After months of hype around the launch, the first Kusama parachain auction went off without a hitch. The now active parachain has already begun successfully processing transactions, paving the way for future slot auctions.

Kusama’s First Functional Parachain Goes Live

The anticipation surrounding Polkadot parachains over the last few months has at last been realized following the first successful parachain auction on the Kusama canary network. This development marks the first time that a 100% decentralized, heterogeneously-sharded blockchain has been launched.

The parachain, awarded to “Shell,” has since been upgraded to “Statemine,” a common-good parachain with several different utilities and functionalities. Other parachains will leverage Statemine’s utility thanks to the XCM protocol, which also allows KSM tokens to move between Kusama and the parachain seamlessly.

With this proof of concept in place and operational,…

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Source: https://news.bitcoin.com/polkadots-parachain-vision-materializes-following-successful-kusama-auction/