As announced on March 26, 2021, ACALA NETWORK secured the first parachain slot on POLKADOT'S Rococo testnet. Parachains such as this are acquired as a result of an auction process whereby different projects bid against each other for the parachain slot. Rococo was launched by POLKADOT in 2020 as a testing ground for its inter-shard communication protocols before projects deploy to KUSAMA, POLKADOT'S canary network, and eventual deployment to the POLKADOT mainnet. Sharded sidechains will be used in the POLKADOT multi-chain ecosystem to process transactions in parallel providing the interoperability, speed and cost effectiveness desired.

This accomplishment makes ACALA NETWORK the first public parachain present on Rococo.

ACALA NETWORK was launched in 2020 with the self professed goal of creating a cross chain financial infrastructure for deployment on the POLKADOT network. ACALA NETWORK has already launched its EVM (Ethereum Virtual Machine) based in Substrate (POLKADOT'S framework) to facilitate the networks interoperability with Ethereum based assets. Additionally, ACALA NETWORK plans to issue a dollar pegged stablecoin for use in any POLKADOT based project.

This is a very significant achievement for the evolution of POLKADOT as a viable blockchain project. The official launch of ACALA NETWORK on Rococo moves POLKADOT one step closer to achieving its goal of providing cross-chain interoperability within a single ecosystem. Uses for such a system, particularly in the DeFi space are infinite and such a system will facilitate growth and development of new investment vehicles within said DeFi space.

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