BLOCKCHAIN AND THE CONSTRUCTION OF WEB 3.0
Blockchain will be a fundamental piece in the construction of this new generation of the web, enabling a new user / internet relationship. However, like all new technology, it constantly undergoes improvements and will evolve a lot. Ethereum is certainly a great icon in this segment, as it is allowing the creation of decentralized applications that we would never have imagined. Behind it, many brilliant minds are working on its development and many have also contributed to its existence.
Among them, Gavin Wood, a scientist and the main responsible for the creation of Solidity, the programming language used for the creation of decentralized applications (dapps) on the Ethereum network.
He is the main creator of Polkadot, a project that aims to solve some limitations of the Ethereum network, such as scalability and interoperability, and provide a safe and more effective environment for the development of other blockchains that will be part of the construction of Web 3.0.
WHAT IS POLKADOT
It is a project founded by the WEB3 Foundation and which aims to be a key part in the construction of the new generation of Web 3.0, facilitating interoperability between blockchains. It connects several blockchains, public and private, in a unified network and allows communication between them, enabling its users to build their own blockchain, in addition to secure and decentralized applications. Each chain built on the Polkadot network uses Substrate, which is a software development framework, maintained by Parity Technologies and used mainly by Polkadot developers who want to create parachains quickly.
Scalability problems of networks like Ethereum are well known and Polkadot is part of the category of projects that aims to promote a network with better interoperability, more scalable and with shareable security, operating in a multichain format where it is possible to connect to your Relay Chain (main chain) different blockchains, allowing data transfers between them.
The project has four main objectives to fulfill this purpose:
- Facilitate communication between public and private blockchains.
- Provide a highly scalable environment.
- Promote network updates without the need for forks.
All of this through a community-based governance model.
The project has a global team of the best systems engineers, cryptographers, solution architects and researchers, many who have contributed to the mold of the current blockchain industry and who intend to continue participating in the development of the next generation of blockchains.
In the Polkadot format, it is possible to execute transactions in parallel, allowing dozens of blockchains to work together, connected through the relay chain. Thus, the Polkadot team claims that transactions can be kept safe and accurate using only the computing resources needed to execute the main chain and allows users to carry out transactions more privately and efficiently, processing a larger number of transactions, with about a hundred times more scalability than current options.
It will be very interesting to follow what technologies like Polkadot's will offer for the development of the next generations of blockchains. Do your analysis to better understand the projects and make a better decision. There are some with good potential and that in the long run can be used a lot. It is important to pay attention to them and position yourself in the ones you think are best to take advantage of possible price increases.
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