polkadot new coin multiblockchain may 2021


SUBMITTED BY: dax74

DATE: Feb. 18, 2021, 2:42 p.m.

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  1. https://polkadot.network/Currently,
  2. blockchains work separately and in silos. Polkdadot promises to create an interoperable blockchain internet for a decentralized web.
  3. Blockchains can connect with Polkadot and work in parallel as so-called "parachains" to access proof-of-stake validation of transactions and network security.
  4. In the so-called "forwarding chain" of the network, the transaction addresses are checked and the data is standardized so that each system can understand them. This is where all chains bring security together.
  5. Blockchains linked to Polkadot can use their own PoS mechanism, decide when and how to update their code, and execute the dapps or tokens of their choice. It is essentially a layer of choice and choice that allows networks to maintain their security and incorporate new protocols.
  6. The two problems that blockchain-based systems need to solve the most are scalability - the number of transactions per second the network can handle - and governance: how the community manages protocol updates and changes. Polkadot aims to solve both of these problems.

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