Introducing Polkadot
Polkadot is an innovative blockchain network that has gained significant attention in the cryptocurrency and decentralized application (dApp) development space. Traditional blockchains face scalability, interoperability, security, upgradeability, and innovation challenges. Polkadot addresses these by using a multi-chain structure with parallel parachains, enabling higher scalability and interoperability. Shared security minimizes vulnerabilities, and its upgrade mechanism allows for seamless updates. The modular design of Polkadot encourages innovation by facilitating rapid development and deployment of new features on custom parachains.
At its core, Polkadot utilizes a unique multi-chain architecture (Figure 9.1) that consists of a central relay chain and multiple parallel chains called parachains:
Figure 9. 1 – Illustrating the interaction between the main components and features of Polkadot
The relay chain acts as the...
