![]() ![]() ![]() The network has a highly sophisticated user-driven governance system where all token holders have a vote in how the network is run. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs. The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants. This parallel processing power improves scalability.Ĭustom blockchains are quick and easy to develop using the Substrate framework and Substrate blockchains are designed to be easy to connect to Polkadot's network. Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). Bridges: allow parachains and parathreads to connect and communicate with external blockchains like Ethereum. ![]() Parathreads: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model.Parachains: independent chains that can have their own tokens and be optimized for specific use cases.Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains.Polkadot’s native DOT token serves three clear purposes: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains. The Polkadot protocol can connect public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot Relay Chain (explained further down). Polkadot provides a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions and services. As a metaprotocol, Polkadot is also capable of autonomously and forklessly updating its own codebase via on-chain governance according to the will of its token holder community. Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains (parallel chains). Polkadot was designed to provide a foundation for a decentralized internet of blockchains, also known as Web3. Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, facilitating cross-chain transfer of any data or asset types, not just tokens, thereby allowing blockchains to be interoperable with each other. ![]()
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