Polkadot - Page 8
Polkadot is a multi-chain network protocol designed to enable different blockchains to transfer messages and value in a trust-free fashion; it aims to enhance interoperability among various independent blockchains. Developed by the Web3 Foundation, it facilitates the creation of "parachains" (parallel blockchains) that can operate seamlessly alongside each other, thus improving scalability and efficiency. Polkadot employs a unique consensus mechanism known as Nominated Proof-of-Stake (NPoS), which allows for a secure environment where validators are rewarded for their participation. The network's architecture allows developers to create custom blockchains that can interact with other chains and connect to external networks. This flexibility and interoperability are key features of Polkadot, positioning it as a foundational layer for a decentralized web where different blockchain ecosystems can work together.
