Polkadot shows the path towards acceleration of Web 3

I want to share about another project which is growing fast and technologically interesting which is Polkadot.

Highlights of Polkadot

• Connects networks together
• It can handle heavy traffic and scale. As more users adopt crypto, any new project treats scalability as one of the key requirements. I am doing more research and will post a separate article on this.
• Better security feature
• You can create new blockchains which are customizable
• It has the best governance system which is community-driven
• Enables upgrades chain without having to fork

Many of them think Polkadot is a layer 1 chain. Many compare it with Ethereum. Polkadot is a Layer 0 chain. So Layer 1 chains can reside on top of Polkadot. Polkadot is an underlying layer for Parachains or third-party chains connected to Polkadot for interoperability, scalability, and security. Parachains are specialized chains running on Layer 0 and transactions on parachains are processed in parallel and this enables the building of highly scalable systems.

The technology that powers Polkadot is the substrate. You can use substrate to build projects on Polkadot or they can run as solo chains.

Polkadot allows any data to be passed on to the network and this is truly required for building Web 3 projects. Things like cross-chain registries and computations are possible. This is one of the major problems NFT and Metaveserse projects are facing and this might be one of the solutions to transfer NFT from one chain to other chains.

Polkadot’s innovative technology will definitely help many projects which were limited by the technology of other chains and these new developments will help more projects move towards Polkadot. Recently XCMv2 Audit was completed by Quarkslab and this will help accelerate the project further. The team is committed and the community is growing strong day by day. In the coming, days, I will be doing more research on the project and building a use case to build on my project.