The Polkadot network — the perfect playground for Web3 builders
Polkadot is a “blockchain of blockchains,” allowing many different types of chains to work and interact securely together within the same…
Polkadot is a “blockchain of blockchains,” allowing many different types of chains to work and interact securely together within the same ecosystem.
Despite the modest Web3 history, there’s already an evolution underway — a “disrupting the disruption” moment of the Polkadot network that’s cleverly leveraging the momentum of blockchain tech. The network has already contributed great promise and significant progress by encouraging individual sovereignty over personal and business data. And, perhaps more importantly, the integration of diverse parachains into a scalable and flexible network set a new standard for Web3 builders.
Short history, quick evolution
Bitcoin, the decentralized currency, was the very first application of blockchain. Before long, it proved to be no ordinary financial commodity, and the potential to create other decentralized applications grew big. Through the need for improved tools and technological basis, the next-gen blockchain upgrade sprouted in the form of the Ethereum network. A smart-contract-based technology made it possible to exchange value besides just the currency and gave way for developers to build and deploy dapps on top of Ethereum.
However, Ethereum using the one-network-serves-all model soon resulted in limitations like flexibility, scalability, and sovereignty. While building dapps on Ethereum proved beneficial for many industry verticals and demonstrated countless innovations, the mass-scale adoption still fell behind because of the rigid network system and limited scalability of transactions.
Polkadot connected the dots
The Polkadot network is becoming the forefront of a scalable Web3 universe-building and mass adoption of blockchain — by connecting different blockchains into one unified network. Unlike layer-1 blockchains, layer 0 of Polkadot allows for multiple layer-1 blockchains to be built on top of it. The Polkadot team even created a framework called Substrate, where developers can build blockchains that work independently from one another.
All in all, it’s a perfect symbiosis. Polkadot’s layer 0, or the so-called relay chain, executes minimal basic actions in terms of network security and makes communication between chains possible. The blockchains as parachains design their own governance structures, fine-tune their functionalities, and (usually) serve a specific use case purpose.
It’s a win-win situation:
- Parachains have more flexibility in building the architecture and therefore contribute better, more specialized services with improved efficiency.
- Polkadot as an ecosystem offers higher scalability by processing transactions on different chains in parallel and gives way for more innovation due to more specialized parachains.
Technologies like Polkadot — Parity’s inter-chain blockchain protocol — will connect different technological threads into a single economy and “movement.”
— Gavin Wood, Founder of Polkadot
Room for improvements
Polkadot is currently the leading, highest value, and most secure proof-of-stake platform. Nevertheless, every technology’s success can benefit from a reliable support system that can enhance its adoption and bring it to the masses. Each innovation is only as strong as its community of users.
Web3 developers still face considerable challenges when building on Web3. Polkadot offers an excellent foundation, but there’s still enormous amounts of time that need to be invested in the research and development by the builders.
At Authtrail, we’ve built an easy-to-use data integrity solution to bridge the gap between enterprises and blockchain technology. The more we zoomed out on the market needs and the more feedback we’ve received, the more we realized that the market needs a more general solution that would expedite an easier Web3 onboarding and supply the builders and developers with toolkits to simplify their building processes.
The growth opportunities of future technologies are immense and can change the perception of economic relationships for the better and the fairer.
Originally published at https://authtrail.com.
About Authtrail
The Authtrail platform serves as a unified gateway to the Web3 services provided by linked Polkadot parachains. Following the multi-chain vision, Authtrail powers the transition of developers to Web3, simplifying its adoption in the real economy, and expanding its versatility as the ecosystem grows. With Authtrail, Web3 services are within reach for every developer, regardless of their background and experience with the blockchain technology.