Home CryptoCurrency News Integritee Network Wins the 21st Kusama Parachain Auction

Integritee Network Wins the 21st Kusama Parachain Auction

Integritee Network has won the 21st Kusama parachain auction and will now be onboarded as the 23rd Kusama parachain.

The official Twitter handle of Kusama, the canary chain of Polkadot, announced on Monday, January 17th, that Integritee Network had won the 21st parachain auction with the help of three thousand crowdloan contributors who locked KSM tokens in the favor of winning parachain. The announcement reads:

“Welcome to the cₐₒ @integri_t_e_e!

After winning my 21st auction, Integritee will be onboarded as my 23rd parachain [20-auction winning parachains, plus #Statemine & @encointer] at the start of lease 19. Three thousand network stakeholders locked up KSM in favor!”

According to Polkadot.js, Integritee collected 20,000 $KSM in its crowdloan and reached its hard cap. The backer of the network will receive a fixed amount of TEER, the native coin of Integritee, for each KSM they contributed to Integritee crowdloan. According to a blog post, backers of the Integritee Network will receive 40 TEER for every KSM bonded.

The 21st Kusama parachain auction was the first auction of fifth-round Kusama parachain auctions. Integritee will now be connected to the Kusama Relay Chain at the start of lease 19 along with the winners of the next 4 auctions, from February 21, 2022, to January 30, 2023.

The 22nd parachain auction has also commenced that will end on January 23rd. Two parachains, Pichiu and Darwinia Crab are competing to win the 24th parachain slot. The Darwinia Crab network is the clear favorite for this round.

The 4th round of 5 Kusama parachain auctions ended on January 5. The 5 auction-winning parachains and a common-good parachain Encointer were connected to their slot on January 10th, at the start of lease 18, for the period January 11, 2022, to December 20, 2022.

As Crypto Economy reported, the auctions for Polkadot’s sister network Kusama commenced on June 15th, 2021, with Karura, the canary network of Acala, winning the 1st auction. There were 5 auctions in the first round, 6 in the second, 4 in the third, 5 in the recently-concluded 4 round.

The parachain slot auctions for the main Polkadot Chain are also well underway. Last Thursday, January 13th, the 7th auction was concluded with Composable Finance as the winner.

What is Integritee Network?

Integritee is a substrate-based public chain that uses a Trusted Execution Environment (TEE) to allow for the secure processing of sensitive business or personal data. The network launched its mainnet in November of 2021.

According to its website, Integritee is a powerful hybrid of the public blockchain and confidential computing that enables sensitive business or personal data to be securely handled in an interoperable blockchain ecosystem. This enables developers and firms to build decentralized, data-driven products and services, without compromising on privacy.”

TEER is a native coin of the Integritee chain which is valued at $4.68 per TEER at the time of writing.

Atiq Ur Rehman
Electronics Engineer with a passion to write about Disrupting Technologies like Blockchain. He joined Crypto-Economy in July 2019.
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