Ethereum-based Aragon Considers The Launch Of A Second Network On Polkadot Blockchain

The Aragon Network, an Ethereum startup, is now considering the idea of launching a second network on Polkadot, an interoperability protocol. Originally, the plans of the company were to launch its product only on the Ethereum blockchain.

Despite the original plans, now the strategy is to make two launches. The first one, on Ethereum, will continue and it is already set for 2019. The Chief Technical Officer (CTO) of the company, Jorge Izquierdo, has revealed the second launch this week, though.

Izquierdo made the official announcement at the Aracon conference, in which he announced that the aragonOS, a framework to create smart contracts, will use Polkadot.

The CEO of Aragon, Luis Cuende, has told Coindesk at the occasion that the main idea of the team was to make the aragonOS transactions in a way that they could be free and optimized as well. This way, they would run seamlessly and be cheaper.

Despite the announcements, the CEO was quick to affirm that the company is obviously very bullish on Ethereum, too, and that no plans have been abandoned, only that the company has decided to diversify its business a little in order to make the most of the technology.

He has also affirmed that aragonOS launching on Polkadot is still a very early plan that is still on the research phase. The exploration of Polkadot is still very early and it will run parallel to the rest of the development on Ethereum.

Polkadot was created by Gavin Wood, one of the co-founders of Ethereum. The idea of the platform is to help developers to create consensus and transaction deliveries on different blockchains. At the time, the project is on a test network, but it will be migrated soon and the expectations are that the launch will happen at the end of 2019.

The network has been in development since 2016 and it is quite advanced now, which was seen as a “warning sign” for some of the Ethereum community.

Ethereum And Scaling Limitations

It can be said that the openness of Aragon in using other technologies shows that Ethereum, the third largest blockchain by market cap in the world now (which was the second last year) is facing problems.

Ethereum has been failing to scale its business and it shows. Just like Bitcoin, the network is still not prepared to be mainstream just yet and some architectural changes need to be done in order to scale effectively and grow.

Lane Rettig, an Ethereum developer, believes that other companies “exploring options” are a wake-up call for the ETH community as it is clear that more companies may start to migrate soon if a consensus is reached that the product being offered by Ethereum is not good enough for the standards of the industry now.

For instance, if Ethereum 2.0, the big update which is being promised by the ETH developers, takes too long, what’s stopping the community from just going to other networks like Polkadot instead?

The community seems to be quite divided and people like Afri Schoedon, which works in Parity, are not so convinced that there is something to be afraid, however. According to him, the community is full of engineers which are certain to develop a very good product, so people do not need to be afraid.

Polkadot And Its Future

It is interesting to perceive that the team behind Polkadot is comprised of people who are overseen by both Parity Technologies and the Web3 Foundation, which are also linked to the Ethereum ecosystem.

This could another reason for the ETH community not to be too afraid, as the overseers of the project might not be personally interested in turning Polkadot into a substitute of Ethereum. This is pretty much what Jack Platts, from the Web3 Foundation, claims.

He says that the network will certainly be a complementary project and that no plans of taking over exist. The plan is to make many interoperable blockchains and to work together instead of being competitors, this, he believes, would create a really multi-chain universe for cryptos.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide