In this video, I am going to explain in simple terms, Why Polkadot is Better blockchain than the Ethereum blockchain. Polkadot has a much broader vision for decentralized blockchain chain development than Ethereum. Polkadot has introduced the concept of parachains, which is an advancement of what the Ethereum network is trying to do with Sharding. Less Trust with More Truth, that is what Polkadot is striving to offer.
What is Polkadot?
This is the simplest explanation of Polkadot cryptocurrency that I could find. Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains.
How Does Polkadot compare to Ethereum?
This means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible.
Is Polkadot Secure? Is Dot Safe?
Polkadot can transfer this data across public, open, permissionless blockchains as well as private, permissioned blockchains.
What are the advantages of polkadot?
This makes it possible to build applications that get permissioned data from a private blockchain and use it on a public blockchain. For instance, a school’s private, permissioned academic records chain could send a proof to a degree-verification smart contract on a public chain. Deep Dive into Polkadot Cryptocurrency: Polkadot’s relay chain is built with Substrate, a blockchain-building framework that is the distillation of Parity Technologies’ learnings building Ethereum, Bitcoin, and enterprise blockchains. Polkadot’s state machine is compiled to WebAssembly (Wasm), a super performant virtual environment. Wasm is developed by major companies, including Google, Apple, Microsoft, and Mozilla, that have created a large ecosystem of support for the standard. Polkadot’s networking uses libp2p, a flexible cross-platform network framework for peer-to-peer applications. Positioned to be the standard for future decentralized applications, libp2p handles the peer discovery and communication in the Polkadot ecosystem. The Polkadot runtime environment is being coded in Rust, C++, and Golang, making Polkadot accessible to a wide range of developers.