What is Polkadot?
Polkadot is a decentralised blockchain connecting multiple specialised blockchains into one single network. Polkadot also extends its support to existing blockchains, acting as a connecting bridge. This multi-chain network enables the cross-blockchain transfer of any data or asset, meaning transactions are not limited to tokens.
Think of Polkadot as an operating system (OS), such as Android, iOS, or other OS that provides an interface for all your apps to function. Likewise, Polkadot is an infrastructure for different blockchains.
Polkadot is a blockchain protocol linking several blockchains into one unified network. It adopts the best blockchain practices while addressing some shortcomings of the previous generation blockchains.
As discussed, the Polkadot shared space enables a frictionless transfer of value, be it data or tokens.
Let’s take a deeper look into Polkadots key features:
Scalability
Polkadot enables parallel block transactions, which as the name suggests, means multiple transactions can be carried out at the same time. This capability enables up to 1,000,000 transactions to be carried out per second, making it more scalable.
Specialisation
You can deploy specialised blockchains with particular functionality on the Polkadot network, for example one could create an identity management blockchain or a file storage blockchain giving both flexibility and the ability to specialise.
Cooperation
Blockchains on the Polkadot network can seamlessly transfer any information using the cross-chain messaging protocol (XCMP). This protocol allows parachains, simpler forms of blockchain, onto the Polkadot network to operate alongside each other securely and in a trust-free manner.
Governance
Polkadot is a decentralised, community-driven blockchain where every participant has a say in the administration process. Their robust governance ensures smooth network upgrades avoiding things like hard forks that can often slow down projects or cause trust issues with the wider public
