What is Polkadot? Polkadot is designed to be scalable, modular, and extensible, allowing it to support a wide range of use cases such as DeFi, gaming, IoT, and more. Polkadot is a decentralized network protocol that enables cross-chain transfers of data and value. Polkadot is built on top of the Parity Substrate framework and utilizes the WebAssembly virtual machine for smart contract execution. The native currency of the Polkadot network is DOT, which is used to pay transaction fees and reward network validators. The Polkadot network consists of two main types of chains: relay chains and parachains. Relay chains are used to coordinate communication between parachains, while parachains are used to host user-generated applications and dapps.
What is Polkadot?
What is Polkadot?
What is Polkadot?
What is Polkadot? Polkadot is designed to be scalable, modular, and extensible, allowing it to support a wide range of use cases such as DeFi, gaming, IoT, and more. Polkadot is a decentralized network protocol that enables cross-chain transfers of data and value. Polkadot is built on top of the Parity Substrate framework and utilizes the WebAssembly virtual machine for smart contract execution. The native currency of the Polkadot network is DOT, which is used to pay transaction fees and reward network validators. The Polkadot network consists of two main types of chains: relay chains and parachains. Relay chains are used to coordinate communication between parachains, while parachains are used to host user-generated applications and dapps.