Statemine: A Deep Dive Into Kusama’s Asset Hub with Joe Petrowski

August 5th, 2021 · 54 mins 30 secs

About this Episode

This week the tables are turned on Relay Chain, with Jorrin Bruns (Support Engineer, Parity Technologies) interviewing co-host Joe Petrowski (Technical Integrations Lead, Web3 Foundation) as a guest representing his contribution to the Statemint/Statemine project. Statemine — Kusama’s version of Polkadot’s Statemint — is a common-good parachain for creating and managing assets and NFTs on-chain. It recently made history as the first live, featureful parachain to be onboarded to Kusama. Now that Statemine has been made permissionless, anyone can use it to create and deploy tokens and NFTs.

The pair discuss computational resources, achieving faster speeds, lower transaction fees and the potential to shell out those fees for assets, while incentivizing validators. Petrowski also shares his insights into conceiving and deploying a parachain within two months, the Substrate build, and the project’s challenges from upgrading a runtime without governance to asynchronous asset management across chains, and what’s next for the project.

Statemint announcement post
Statemine upgrade announcement
Statemint’s GitHub repositary

01:17 What is Statemint?
05.40 Taking transactions off the relay chain
10:00 Statemine as the first common-good parachain
16:60 Teleporting assets across multiple chains
20:04 Implementing Statemint governance
23:35 Who is building common-good parachains?
25:49 Incentivizing validators
29:03 How Statemint interacts with other parachains
41:35 Considering asynchronous blockchain execution
44:48 Challenges building Statemint
49:54 Statemint’s runtime upgrade to become permissionless
50:30 What’s next for Statemint/ Statemine