PRESS RELEASE. Polkadot promises to bring innovation, robustness, and enhanced security to decentralized blockchain systems, allowing for the transfer of all kinds of data – not just tokens.
September 10th 2021 – The Web 3 Foundation has been working in collaboration with over 100 leading blockchain development specialists to create the advanced Polkadot platform, which in accordance with their development roadmap, is now live.
Blockchain technology has been at the heart of much of the innovation in a number of fields in recent years, from the most widely known about sphere of cryptocurrencies, through to areas like logistics and human resources. Decentralization brings with it a lot of benefits and offers huge potential, but also creates some challenges that Polkadot aims to take an innovative and robust approach to solving.
Polkadot uses a stake-based system to establish which actors to trust within its blockchain network. This advanced approach allows for better security, and a robust framework appropriate for use with all kinds of data, not just crypto tokens.
Interoperability Between Multiple Blockchains
One of the most impressive things about Polkadot is its capacity to provide interoperability between multiple blockchains, which makes it scalable in a way no other platform can currently compete with. Polkadot is also extremely easy to implement, allowing users to create custom blockchains in minutes and gain the advantages of the interoperability and scalability inherent to the platform from day one of beginning to use it.
Polkadot also aims to be futureproof, having been designed in such a way that it can be upgraded with no hard forks, meaning that as technologies improve, Polkadot users will be able to leverage them without experiencing any issues with their existing data or blockchains.
A Novel Security Approach
Another advantage Web 3 Foundation put forward to the Polkadot platform is its novel security approach, which lets blockchains stay independent in terms of their governance, while also sharing the same high level of security. Security is one of the biggest concerns for people moving into blockchain, and Polkadot’s approach can offer complete assurance in that respect.
The development of Polkadot has been an interesting process, and through 2020 and 2021 the testing and initiation phases were completed successfully. This means that Polkadot is now live and ready for use. Full information about how the technology and stake-based system works is available on the website at Polkadot.network.
For the future, Polkadot’s development will continue with an approach that takes into account the voices of the user community. As users are considered stakeholders, the developers aim to work alongside the community to avoid stagnation in the platform and its features, and to continue to provide the most innovative and effective platform for blockchain implementation. The development roadmap for the next phases is available on the Polkadot website.
The arrival of Polkadot as a live service is certainly an interesting one for those interested in the advancements in blockchain technology on the whole, and for those looking for a powerful and reliable platform for their own blockchain implementations.
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