What is Polkadot blockchain technology?
Different kinds of blockchain projects formed in the current years focus more on the general aspect of infrastructure-associated improvements instead of on specific applications. The polkadot is a successful project that helps improve fundamental blockchain technology and empowers dApps. Polkadot protocol helps break the barriers between different blockchain ecosystems and facilitates free communication within the network. Polkadot is a network that helps blockchain architecture interact with each other through specialized blockchains known as parachains. Polkadot utilizes PoS or proof of stake consensus algorithm.
What are the issues that are well addressed by Polkadot blockchain technology?
Developers and industry experts have opined that three main obstacles hinder blockchain technology’s popularity and growth.
These three obstacles are scalability, speed, and security. The Polkadot network was launched in 2020 and had powerful implications for developing the industry. Polkadot is a promising network that will continue to evolve in the future.