Polkadot(DOT )is a multi-chain platform that enables the transfer of any type of data or asset across different blockchains, fostering a new era of interoperability and scalability for multiple blockchains to work together under one decentralized system.
It was launched by Dr. Gavin Wood in 2020, who is also the co-founder of Ethereum. One of Polkadot's key features is its shared security model. Unlike other blockchain networks where each chain must provide its own security, Polkadot's relay chain provides security to all parachains, ensuring a high level of safety and resilience against attacks. Polkadot also introduces the concept of cross-chain composability, allowing developers to build applications that can interact with multiple blockchains seamlessly.
On 15 June 2023, Gavin Wood proposed the concept of Polkadot 2.0. Whole Polkadot ecosystem will no longer limited to the existing parallel chains and relay chains, the focus is on the more fundamental resources required by the blockchain - the computing core (Core), viewing Polkadot as a multi-core computer. In addition, Polkadot may possibly cancel the existing slot auction method in the future, and adopt a more flexible resource allocation method centered on the core: the purchase of Coretime. For example, "bulk purchases" and "instant purchases" of the "core" on a monthly basis, and this will bring new supply and demand changes to DOT, as well as improvements to the economic model.
In 2024, Polkadot continued to advance the implementation of Polkadot 2.0, launching new governance mechanisms and resource management strategies to better support projects within the ecosystem. The team introduced new development tools and frameworks to encourage more developers to participate in creating decentralized applications (dApps). Additionally, Polkadot established partnerships with several projects both within and outside its ecosystem, promoting practical applications of cross-chain interoperability, such as integration with Chainlink, enhancing the functionality of smart contracts.
Above are only for introduction, not intended as investment advice.
