Thread by @luidjin

Do you know what Common Good Parachains are?
I often hear that @Polkadot lacks this or that feature. Today I want to talk about CG parachains to understand one more aspect of the chances of #Polkadot and why it makes no sense to talk about lack of functionalities.
$DOT

1/11

"Common Good" parachains are slots reserved for functionality that benefits the whole ecosystem. They are not allocated via auction process but by the on-chain governance system.
Generally, a CG parachain's lease would not expire; it would only be removed via governance.

2/11

The purpose of these parachains will probably fall into one of two categories: system level chains or public utility chains.
They are not chosen by auction, because they are profitable. They are chosen via governance for being useful to the ecosystem.
#Polkadot $DOT

3/11

System level chains move functionality from the Relay Chain into parachains, minimizing the administrative use of the Relay Chain.
Moving the logic from the Relay Chain to a parachain is an optimization that makes the entire network more efficient.
#Polkadot $DOT

4/11

Moving system level logic to a parachain frees capacity in the Relay Chain for its primary function: validating parachains.
Adding a system level chain could make the network capable of processing several more parachains.
#Polkadot $DOT

5/11

Public utility chains add functionality that doesn’t exist yet, but the stakeholders believe will add value to the entire network.
They will always be fully aligned with their Relay Chain stakeholder base. This means that they will adopt the Relay Chain's native token.

6/11

As well, they will respect any messages incoming from the Relay Chain and system level parachains at face value.
Some examples of potential public utility chains are bridges, DOT/KSM-denominated smart contract platforms, and generic asset chains.
#Polkadot $DOT

7/11

Statemint, $DOT and $KSM, are the first CG parachains. It´s a public utility chain adding the creation and management of assets functionality.
It will support both fungible and non-fungible assets, offering an interface similar to ERC-20 for fungible and ERC-721 for NFT.

8/11

Because of the efficiency of executing logic in a parachain, the transaction fees and deposits are about 1/10th of their value on the Relay Chain.
These low fee levels mean that Statemint is well suited to handling $DOT balances and transfers and managing on-chain assets.

9/11

As you can see, Polkadot has the tools to add functionality through governance if needed.
It does not have any lack, because it is not designed to have a specific form. #Polkadot is the creation space to create forms in a safe and reliable environment.

10/11

You can compare it with LEGO. Nothing more than robust building blocks, but infinitely scalable and adaptable.
That gives it the ability to adapt to changes and new needs and prevail over time.
I don't need to tell you about the success of LEGO.
#Polkadot $DOT

11/11