![]() ![]() Blockchain governance models can even be perfected and upgraded as needs and conditions change over time. ![]() Teams can customize and optimize their blockchain’s governance to their needs, experiment with new ideas, or swap in pre-built modules for faster deployment. Self-governĬommunities on Polkadot govern their network as they see fit, and hold a transparent stake in the future of Polkadot’s network governance as a whole. For example, a chain providing financial services can communicate with another that provides access to real-world data (known as an oracle chain) such as stock market price feeds for tokenized equities trading. This opens the door to innovative new services and allows users to transfer information between chains. Unlike previous networks that operated largely as standalone environments, Polkadot offers interoperability and cross-chain communication. Networks and applications on Polkadot can share information and functionality like apps on a smartphone, without needing to rely on centralized service providers with questionable data practices. By building on the Substrate development framework, teams can develop and customize their blockchain faster and more efficiently than ever before possible. ![]() That means blockchains can offer better services, while also improving efficiency and security by leaving out unnecessary code. On Polkadot, each blockchain can have a novel design optimized for a specific use case. For example, one chain might optimize for identity management while another might optimize for file storage. All blockchains make tradeoffs to support different features and use cases. When it comes to blockchain architecture, one size does not fit all. Sharded chains connected to Polkadot are called “parachains” because they run on the network in parallel. This parallel processing power significantly improves scalability and creates the right conditions for increased adoption and future growth. Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel, eliminating the bottlenecks that occurred on legacy networks that processed transactions one-by-one. What are those advantages? Polkadot enables blockchain networks to: Scaleīlockchains in isolation can only process a limited amount of traffic. Designed as part of a broad vision for a web that returns control to individuals over internet monopolies, Polkadot builds on the revolutionary promise of previous blockchain networks while offering several fundamental advantages. Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. ![]()
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