#show-card ## Project Overview [[Polkadot]] is a next-generation blockchain protocol designed to enable scalability, interoperability, and innovation by connecting multiple specialized blockchains (called [[Parachain|parachains]]) into a single unified network. It was founded by Dr. Gavin Wood, co-founder of [[Ethereum]], and is developed by the [[Web3]] Foundation. Its core purpose is to overcome the limitations of isolated blockchains by providing a shared security model (via its Relay Chain) and a framework for seamless cross-chain communication (XCM - Cross-[[Consensus]] Message Format). Key features include its sharded parachain architecture, on-chain governance, forkless upgrades, and the [[Substrate]] framework for building custom blockchains. Discover more at the [official Polkadot website](https://polkadot.network/). ## Technical Details - **Underlying Technology:** Polkadot uses a Nominated Proof-of-Stake (NPoS) consensus mechanism for its Relay Chain. The Relay Chain doesn't handle [[Smart contract|smart contracts]] directly but is responsible for coordinating the network, including security and consensus for connected parachains. - **Architecture Overview:** - **Relay Chain:** The heart of Polkadot, providing security and consensus to the network. - **Parachains:** Sovereign blockchains with their own logic, tokenomics, and governance, which connect to the Relay Chain for shared security and interoperability. - **Parathreads:** Similar to parachains but with a pay-as-you-go model, suitable for projects not needing continuous connectivity. - **Bridges:** Connect Polkadot to external blockchains like Ethereum or [[Bitcoin]]. - **Unique Selling Points:** - **Shared Security:** Parachains benefit from the economic security of the entire Polkadot network. - **Interoperability:** Enables different blockchains to communicate and exchange data/assets trustlessly. - **Customizability via Substrate:** Developers can build highly specialized blockchains tailored to specific use cases. - **Forkless Upgrades:** The network can upgrade its own runtime without requiring [[Hard fork|hard forks]], facilitated by on-chain governance. - **On-Chain Governance:** A sophisticated governance system allows stakeholders to manage protocol upgrades, treasury funds, and other network parameters. ## Use Cases - **[[DeFI|DeFi]] Hubs:** Parachains dedicated to [[Decentralized finance|decentralized finance]] (e.g., [[Acala]], [[Moonbeam]] often offering [[EVM]] compatibility). - **[[NFT]] and Gaming Platforms:** Specialized parachains for NFTs, gaming, and metaverse applications. - **Identity Solutions:** Blockchains focused on [[Decentralized identity|decentralized identity]] and credentialing. - **IoT and Supply Chain:** Parachains designed for Internet of Things (IoT) data or supply chain management. - **Cross-Chain Bridges and Services:** Enabling communication and asset transfer between Polkadot and other ecosystems. ## Getting Started - **How to use/access:** Users interact with Polkadot and its native token (DOT) via wallets like Polkadot.js, Fearless [[Wallet]], Nova Wallet, or [[Hardware wallet|hardware wallets]]. DOT is used for [[Staking|staking]], governance, and parachain auctions/leases. - **Official Resources:** - Website: [Polkadot Network](https://polkadot.network/) - Wiki: [Polkadot Wiki](https://wiki.polkadot.network/) - Polkadot.js Apps: [Polkadot JS](https://polkadot.js.org/apps/) - Explorer: [Subscan](https://polkadot.subscan.io/), [Polkastats](https://polkastats.io/) - **Community:** Active on various channels including the Polkadot Forum, Discord, Reddit (r/dot), and Telegram. ## Related Links (Optional) - Substrate - Parachain - [[Proof of stake]]