Sponsored Links
Polkadot

Polkadot! the mean for blockchains to talk to each other.

Views: 668
8 0
Sponsored Links
Read Time:6 Minute, 54 Second

Treasury | Kusama

Polkadot is an attractive platform due to its Treasury and its Kusama test network. Instead of having to secure some blockchain project’s own network, secure funding, and million other details, Polkadot makes it easy to set up a plug and play Parachain easily and quickly. According to Gavin wood, Kusama is a practice network that embraces chaos, This network gives blockchain project holders the option to test their blockchain before getting launched on the real network. Although it is a test network, be aware that it has real stakes, that give enough incentives to people not to play too much. But actually try things that are ready for real-world and maybe a little risky.

Kusama ends up having a real influence on the development of the real Polkadot network.

Sponsored Links

In regards to the treasury, Polkadot allows anyone who wants to bring some changes to their platform, to stake some funds in the treasury, And when those changes are accepted, these funds are refunded.

Law

Gavin wood emphasizes his attention on regulation and decentralization since he believes that only a matter of time till regulators would crack down on the crypto centralized projects. To make sure Polkadot doesn’t become a target, Gavin has been reading regulator’s documentation from around the world to identify the crypto components that regulators are most likely to target.

Sponsored Links
  • Software development
  • Generic
  • Service provision (RPCs, wallets, app-sites)
  • Multisigs (Multisigs DAOs, council/treasury)
  • Custodians (hosted wallets, non-p2p stablecoins)
  • Easifiers (wallets/ apps with centralized features)
Willing to p2p-ifying everything

Gavin has identified 4 adjustments that developers need to decentralize the most.

The first is governance specifically introducing an alternative to the Polkadot council committee who currently has a significant amount of power in the governance process. The second is light-clients which are an alternative to RPC nodes, which will permit the interaction with Polkadot blockchain in a decentralized manner. The third is to use bootstrapping instead of using boots-node which is another technical term for decentralizing validator’s node infrastructure. The fourth is the most interesting which mixNet, a protocol that prevents transaction audits on public cryptocurrency blockchain, based on breaking the link between the sender and the recipient.

Polkadot 2.0

According to Gavin, the focus of Polkadot 2.0 is to increase scalability, interoperability, treasury management, and Parachain onboarding.

The limited public documentation of the Polkadot 2.0 stated that Polkadot will leverage the zero-knowledge proof, test the limit of how many Parachains a relay chain can support, and see whether it is possible to link multiple relay chains together.

Sponsored Links

Outro

Polkadot upgrades are ultimately decided only by DOT holders by community vote, If no one votes, it is very difficult or impossible for Polkadot to make progress.

Leave a Comment

Your email address will not be published.

Sponsored Links