What is the Polkadat network? Polkadat by Web 3 Foundation in the form of open source Launched, it allows the transfer of all types of data and information between different blockchains in a scalable manner. By connecting to the Polkadat network, it is possible to connect to other blockchain networks and create a connection with them. This network, which enables scalability in parallel blockchains by publishing transactions, also allows the creation of custom blockchains through the framework. Substrate makes it possible In the blockchain world of Polkadat, there is no hard fork to eliminate errors, and with its help, it is possible to create interaction between different networks while maintaining complete security. This network with its native currency ie dat currency It has made a lot of noise in the world of cryptocurrency and now we are going to talk more about it during the article.
Getting to know the Polkadat blockchain
In our world, everything is centralized and different service centers and collections take our information from us in exchange for providing services. The value of the information you provide to these companies is more than anything, and for this reason, new technologies such as blockchain have gained many fans; There is no mention of data control and destroying people’s privacy. By mentioning this topic as an introduction, we will introduce Polkadat blockchain network.
Polkadat network, which is a communication way for different types of blockchain networks with each other; It allows blockchains to transfer any type of data and information. This blockchain network creates a decentralized market and offers services by gathering the advantages of each blockchain network together in a fair and good way.
This blockchain network has many advantages, including heterogeneous sharding, transparent management or upgradeability.
Polkadat project team
To get to know the Polkadat network, it is not a bad idea to get to know its development team, which we will introduce below:
Robert Habermeier: Robert Habermaye works as the founder of the Polkadat blockchain network and with his experience in the field of blockchain and cryptography, he has been able to play a role in his own way.
Dr. Gavin Wood: Another founder of the Polkadat blockchain network is Dr. Gavinwood, who also has the title of Chief Technology Officer of Ethereum in his resume. Currently, Dr. Gavinwood is responsible for driving innovation in the Polkadata network
Peter Czaban: Peter Chezan, who has a master’s degree in engineering from Oxford University, is one of the founders of Polkadat and also works as a Web 3 technology manager.
History of Polkadat
We will review the road map and history of Polkadat in the following to familiarize yourself with the route of this network:
- May 2018: First stage of proof of concept
- July 2018: Second phase of proof of concept
- October 2018: BBQ-Birch Test Network
- January 2019: Third stage of proof of concept
- May 2019: Fourth stage of proof of concept
- August 2019: The first stage of Kusama’s chain candidacy
- September 2019: The second stage of Kusama’s chain candidacy
- November 2019: The third stage of Kusama’s chain candidacy
- May 2020: The first phase of the main network release
- June 2020: The second phase of the main network release
- July 2020: The third phase of the main network release
- July 2020: The fourth stage of the release of the main network
- August 2020: The fifth stage of the release of the main network
- August 2020: DOT name change
DOT network architecture
Parachains are heterogeneous blockchain shards connected by the Polkadat network. The connection of Parachains chains with Polkadat network relay cannot be ignored, through which their security is maintained. Parachains also have the ability to bridge with external networks.
Polkadat relay chain is like the heart of this network and is very important. In fact, the Polkadat relay chain is used to provide security, consensus and interaction between the chains. Parachains, which we introduced in the previous section, has the possibility of creating a permanent connection for the Polkadat relay network and also improves the performance of the Polkadat network.
The bridges we mentioned are actually a special type of blockchains that issue permission to Polkadata shards so that they can communicate with other blockchain networks.
According to the explanations we have given, you have noticed the architecture of the Polkadat network and how it is possible to connect with other networks in the best way.
Features of the Polkadat network
Now, we will discuss some of the most important features of Beke Polkadat and talk about them:
Collection of different chains
In the world of affairs, various specialized blockchain networks are used and each of them performs a specific task in the world of cryptocurrency. But with a different approach, the Polkadat blockchain network tries to connect all these networks with each other so that it can access all of them. In fact, Polkadat does this by means of its heterogeneous sharding circuit. The networks created in Polkadat can each have their own function in such a way that Polkadat does not create any restrictions for them.
In today’s world, no matter how practical blockchains are, they can’t answer the challenges well on their own, and that’s why Polkadat can be considered as a new and original idea. Also, in the old blockchains, there was a scaling problem and transactions were done one by one, which luckily, Polkadat solved this model by using the sharding model, and in the future, by using the relay chain scheme, it wants to completely satisfy the imagination of its users in this Make the field comfortable.
Eliminate update problems
As different software and applications are updated over time and various features are added to them, blockchain networks also need successive updates. Therefore, a fork is needed to update the blockchains, and therefore this process is difficult. For example, if a hard fork is needed for the update, people of the same community will be separated from each other (such as the hard fork of Bitcoin and the separation of Bitcoin Cash from it). But fortunately, there are no challenging and difficult updates in the Polkadat blockchain network, and this can be done easily.
There is no need to fork in the Polkadat network for updates, and since it has a transparent management system, you can make your updates easily. With this feature, the projects that are currently in the Polkadat network and the programs that are going to be developed in the future based on this network will be in sync with the current technology. By reducing the risk of hard fork, Polkadat encourages many companies to step into the world of blockchain and start their activities in this field.
A community-based network
The Polkadat network is a community-based network, which means that all those who have the DAT cryptocurrency can make decisions about the changes that are going to be made in this network. In fact, everyone can manage this network and can even make suggestions for changing Polkadad. If you are part of the Polkadat community, you have the option to elect a council to represent inactive members of the Polkadat blockchain community.
Polkadat, the leader in the 3rd generation internet foundation
Applications are based on the web and operate in a decentralized manner, supported by the Web 3 Foundation or Internet Generation 3. The focus of this foundation is on projects that are engaged in providing decentralization with cryptographic methods. 3rd generation internet registration is provided by this foundation. The Polkadat network, which is a kind of leader in the Web 3 Foundation, receives help from the Web 3 Foundation.
What do Kusama and Substrate have to do with Polkadot?
In the following, we introduce Kusama and Substrate so that you can understand their connection with Polkadat:
Kusama
The initial version of Polkadat actually Kusama It was published without special review. Kusama was released to test the Polkadat network. This local version is also suitable for Parachain developers to test and check their ideas and, if the test is positive, enter them into the Polkadat blockchain network. The activity of this network does not pose a risk to Polkadat; Because it is managed by some of its fans and operates completely independently.
Substrate
By means of the Substrate framework, it is possible to create a custom blockchain. In Substrate, you will find different templates that serve different purposes. If this framework is used, developing a dedicated blockchain network will no longer be a time-consuming and tedious task. With this framework, all market needs can be met, and Substrate-based blockchains have many opportunities for improvement. In this framework, there is also a tool called Cumulus, which is used to connect a blockchain network to other blockchain networks with full security.
Familiarity with DOT digital currency and its importance in the network
The dot currency, which is the native currency of the Polkadot blockchain, is used for three different purposes, each of which we will examine below:
- Sticking: In the Polkadat network, users who have a healthy and honest behavior can be rewarded by staking. In this network, punishment has also been considered for people who have destructive behavior
- Management: As we said, those who have the DOT token have the ability to manage the Polkadata network and can participate in its decisions. This approach of Polkadat is completely different from other blockchains that leave decisions to the miners. If you have a DOT token, it means that you can participate in important network issues such as protocol upgrade or protocol modification
At the time of writing, the DOT token is ranked 12th on the CoinMarketCap website and is trading at $6.11. The circulating supply of this cryptocurrency is 1,156,624,241 DOT, its daily volume is 38,663,708 DOT or 236,022,090 dollars, and its market value is 7,073,966,363 dollars. You can buy this digital currency through reliable foreign or domestic websites like Valex.
Polkadat network, a revolution in the field of 3rd generation internet
In this article, we talked completely about the Polkadat network and said how it created a connection between different blockchain networks, and since it has practical features such as not requiring a hard fork, how it can create a desire in different companies to enter the world of blockchain. . The security and scalability of this blockchain network cannot be ignored, which are among its unique features. Despite all the explanations we gave about the Polkadat blockchain network, keep in mind that all blockchain-based projects are risky and most of the time, the predictions made for them are not correct. We have tried our best to discuss the Polkadat network unbiasedly in this article, but we are not suggesting you invest in it. You have to make an investment decision by doing various reviews and analysis and getting help from professionals in your market.
Introduction to Polkadot blockchain, full introduction of polkadot network architecture for the first time on Wallex blog. appeared.
