Introduction To Polkadot.- The First Blockchain With Many chains, One Network
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Introduction To Polkadot.- The First Blockchain With Many chains, One Network

By Iforbusiness | Introduction Polkadot | 13 Jun 2020


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As we all know there are many Blockchains but they can't communicate with each other because every blockchain differs from other blockchains by the means of structure, mining protocol, nature, and goals.

So doing a specific task you have to depend on a specific blockchain or you choose the best blockchain to perform that task. For example, to deploy smart contracts you choose among Ethereum, Chainlink, Algorand, etc, and same as this for other purposes you choose other blockchains or use a centralized platform that not only wastes your time and efforts but also risks your data on a centralized platform.

So solving this problem, Polkadot created by the cooperation with the Web3 foundation which can give the power the users to communicate with other blockchains in a simple way.

Plokadot project is lead by Dr. Gavin Wood, the former CTO of Ethereum. He had a huge contribution to the Ethereum ecosystem by creating solidity language for Ethereum, Proof-of-Authority consensus, and Whisper. At Parity.

Polkadot is creating sharded protocol, which means multiple blockchains can meet each other to operate together seamlessly and because of this vision of Polkadot many other features get unlocked, and in this article, we will discuss how Polkadot enable other features by creating sharded protocol.

The first benefit we getting because of Polkadot's multichain infrastructures that can handle the pressure of users from the perspective of TSP (transaction per second), Data, and Network. Because all chains can process transactions in parallel and as many people join the ecosystem Polkadot become more powerful and stronger. As Polkadot open-source platform so it gives us the power that in parallels, we can add more chain chains with different specialization hence it grow the innovation.

As Polkadot can process parallel transactions so no delay in the network which means neither future dAaps run on the Polkadot will experience a delay in run time nor delay in data or money transfer which gives us Economic & transactional scalability.

If Blockchain has an issue, then the community takes the chance to fork that blockchain and create another blockchain, for example, Bitcoin Cash forked from Bitcoin In response to SegWit in 2017 and even if bitcoin cash is a forked coin of bitcoin but it can't communicate with bitcoin but in case of Polkadot will give the ability to the community, they can build and connect any kind of chain to Polkadot so no room for fork situtaion which means Polkadot is forkless and future-proof blockchain.

Polkadot can easily engage with various chains with various features so you need not follow or visit other blockchain or platform, which means you get true interoperability.

Now a question may come to your mind that how Polkadot will give security to this complicated network?

Yes, this is a legitimate question can come to anyone because security is the important component of all the system and here Polkadot give freedom to all chain so can every chain remain independent in their governance but their security get combined to protect the network so the numbers of chain grow more security we can get.

As we know Polkadot is an open-source platform so each person of the network has the power to take action and voice so in short, we can say the Polkadot platform is User-driven network governance.

 

Conclusion:- After research and read the white-paper and light-paper of Polkadot I got to know lots of things that I can't share with this single article so this article is only the introduction to Polkadot hope you understand how Polkadot helps with Many chains in one network. In future I will create lots of good articles about Polkadot components in details so stay tuned.

For more details must visit follow links:

Website, Whitepaper, Lightpaper, Twitter, Reddit, Telegram,

Risk warning!!: All the information above are not financial advice and neither legal nor illegal advice all are my opinion and this article is of your knowledge Before. investment do your own research because nobody will responsible for your profit or loss

Author's details:
Name- Jitendra Naik
Email- Jitencrackit2@gmail.com

 

 

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Iforbusiness
Iforbusiness

Blockchain content creator


Introduction Polkadot
Introduction Polkadot

In this article, I tried to represent Polkadot simply because this is a complicated project to understand

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