What is Polkadot? | Decentralized Web | Blockchain Protocol | Cross-Chain Connection

Polkadot is a next-generation Blockchain protocol
that unites a network of application-specific blockchains. Polkadot enables these Blockchains to operate
seamlessly together. Any type of information can be sent between
any type of Blockchain, including data as well as tokens. Polkadot aims to be a true multi-chain application
environment where things like cross-chain registries and cross-chain computation are
possible. Polkadot can transfer this data across public,
open, permission less blockchains as well as private, permissioned blockchains. This makes it possible to build applications
that get permissioned data from a private blockchain and use it on a public blockchain. Polkadot is designed to operate two types
of blockchains. The main network is called the relay chain
and user-created networks are called parachains. Parachains can be customized for any number
of uses. They feed into the main blockchain, the Relay
Chain.

This means that parachain transactions benefit
from the security of the main chain. The Polkadot Relay Chain uses a variation
of Proof-of-Stake (PoS) consensus called Nominated-Proof-of-Stake (NPoS). This gives anyone who holds Polkadot’s native
cryptoasset, DOT, a role in consensus. The DOT cryptoasset can be used for network
proposals, staking activities, and bonding. Bonding is part of the process for creating
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