Polkadot Fellowship held an online public meeting yesterday to share the progress of all aspects of the Polkadot ecosystem! In this meeting, everyone also mentioned the progress of Plaza! PolkaWorld has compiled this part of the content for everyone to help the community understand Plaza’s current focus! https://www.youtube.com/watch?v=hAMo6wMOuak&t=15s
The name comes from Rob's blog post , which covers two main aspects.
First of all, we have always wanted to minimize the relay chain , that is, put everything on their own chain, such as the pledge chain, governance chain, etc. Rob proposed an alternative, which is to put everything in AssetHub.
Secondly, add EVM-compatible contract functions to AssetHub .
So, the name Plaza means it is a collection of projects, not a new product. The product is still Polkadot, it is not a new chain, nor is it to rename AssetHub or something like that.
Plaza is a collection of multiple projects , all of which aim to make Polkadot easier to use, easier to integrate, and easier to get started with.
You can think of Plaza as a code name , which is a general name for several projects, but it's not something new that end users will see, it's just something we're developing.
Some Fellowship members are developing sub-projects, and here we focus on three of the most impactful ones.
The first is to add EVM-compatible contracts to AssetHub.
The second is to migrate all protocol-related content, such as pledge, governance, and balance, to AssetHub . After doing so, the deposit for proxy and multi-signature will be greatly reduced, and the deposit for existence will of course also be reduced.
In addition, institutions like exchanges may support DOT but are reluctant to support USDT because that means they have to support AssetHub as well, which is additional integration work for them. Therefore, by moving everything to AssetHub, we hope to get better support, such as exchanges or other providers being able to support stablecoins more easily or lower their minimum deposits because the deposits are already significantly lowered. Hopefully, this will greatly improve the end-user experience.
The third point is the API change . Now in application development, the common pattern is to read storage directly. So every time we migrate the storage of a pallet in the frame, all applications will crash because they try to read values that cannot be decoded. So the idea is to change everything to use view functions, which allows implementers to abstract away the impact of any storage changes. For example, when you are looking at something related to governance, you only need to ask "give me the voting results of this referendum", and this view function will always return the same result.
Even if the underlying storage format, like how voting data is stored or the information in a vote changes, normally this will cause your application to break. But if you access it through the view function, then nothing will change. It's basically a stable API for reading Polkadot data.
Plaza is not only useful for Polkadot's system chain or AssetHub, other parachains can also use these functions. In the next week or two, there will be a more specific timeline , as well as the time the Fellowship thinks the development will take, as well as the specific specifications of each part and what it means to everyone.
Follow PolkaWorld and stay tuned for more updates on Plaza!
If you want to know more about Plaza, you can also check out the related articles published by PolkaWorld!
PolkaWorld Telegram Group:
https://t.me/+z7BUktDraU1mNWE1
PolkaWorld Youtube Channel:
https://www.youtube.com/c/PolkaWorld
PolkaWorld Twitter:
@polkaworld_org
