Polkadot Crypto & Parachains explained in 60 seconds #shorts

Polkadot has been the talk of the crypto world 
since Ethereum continues to struggle with   high fees and scalability. And Parachains and 
interoperability are Polkadot’s secret sauce. But what are parachains? Parachains are like individual blockchains 
that run parallel to each other on the Polkadot   network. Since applications will be 
able to run on different parachains,   the Polkadot network will be able to handle a 
lot more traffic without resulting in high fees. Parachains will also share 
data and transactions with each   other by connecting with a centralized 
hub in the Polkadot network. In fact,   Parachains are actually a lot like 
shards on the future version of Ethereum. In both cases, the main goal is to spread out 
different applications on different chains so   that there isn’t one chain that has 
to clear all of the transactions. If Polkadot and Ethereum are 
going to offer a similar service,   then why wouldn't you just pick Ethereum 
since it's already the smart contract leader? One word: interoperability.

Polkadot has a 
unique bridge feature that lets it connect   to other blockchains. And if the massive price 
increase of the DOT token is any indication,   the market is pricing this in 
as a very desirable feature..

You May Also Like