¿What is Polkadot?
¿What is Polkadot?
Polkadot is an interoperability ecosystem between blockchains.
It was launched in August 2020 and is supported by the Swiss Web3 Foundation.
It was then developed by Gavin Wood in 2016, co-founder of the Ethereum network.
its objective is to provide answers or scalability problems in the world of cryptocurrencies.
It also uses a scalable, interoperable and secure network protocol.
¿What does it offer?
Polkadot offers a cheaper platform to debut projects.
It offers high scalability and convenient Parathreads (temporary spaces in the network used to test ideas) to perform operations on the network.
It also offers its token (DOT) that encourages its validators to interact freely on the platform.
Likewise, it gives access to determine tasks, vote on decisions, updates and proposals created to evolve the network.
Even validators can and do generate, join, or remove polka dot parastrings or substrings.
DOT facilitates consensus on the network through staking.
¿How does it work?
Polkadot works under four characteristics that are based on the generation, verification, validation and emission of blocks on top of Polkadot and the parachains.
The union of all these characteristics are developed in parallel, accessing a transmission speed within the blockchain.
In the same way, the central blockchain (relays) searches for the states of the chain of blocks known as the parachains that are linked to the system.
Likewise, it supports all the individual blockchains, this activity has a step to all the tasks related to the management and protection of the network.
Therefore, points (native tokens) to the relay chain are required to start new blockchains and anchor them to the core blockchain.
¿How is Polkadot regulated?
Polkadot, being a fully decentralized network, does not have any financial institution that regulates it.
In the same way, the validators guarantee the protection and security of the network.
They make sure that the transactions are transparent and communicated to all the blockchains in the network.
¿Why do people use Polkadot?
People use the polkadot network for the strength that resides in it, likewise it is widely used for the great ability it has when it comes to communicating with other blockchains.
Also, polkadot provides great scalability, cheap platforms for new projects and an interesting mechanism for DeFi.
¿How is Polkadot different from other blockchain networks?
One of the great differences between Polkadot (DOT) and other networks is its great versatility that it acquires with different blockchains.
You can exchange a cryptocurrency, fiat cryptocurrencies, or simply use a debit or credit card to make purchases.
https://www.binance.com/
¿Where to find more information?
For more information such as movements, prices, explorers, contracts and more you can visit the following link: https://coinmarketcap.com/
Did you know that you can buy and sell USDT and BUSD online thanks to Gastcoin Gateway?
