Community Trust ScoreVerified
- Polkadot Hybrid Consensus
- Securing a slot
- Implementation of this Improvement With Optimization
Polkadot is a sharded protocol that enables blockchain networks to operate together seamlessly.
Polkadot uses hybrid consensus, separating GRANDPA (finality) from BABE (block production). This allows for blocks to be rapidly produced and finalized at a slower pace without risking slower transaction speeds or stalling.
Rob Habermeier, Polkadot founder has published: Polkadot v1.0: Sharding and Economic Security. Those who want to understand the technology powering Polkadot can check it.
Several interesting topics like: The Chains before the Chain, Grandpa Paper, Sharding: scaling by subset selection, submitting blocks and growing parachains, Approval checking and finality, Approval checking properties and security, what do validators check? When to check, Assignments, approvals, and no-shows, getting to yes: scheduling and the approval state machine, Disputes: arguing for money, Disputes and Consensus Rules, on Protocol development and lot more.
Community Reaction: How can you expect a chain like this to win when Parachains need to constantly waste millions on securing a slot instead of ecosystem development?
Crowd loans mean teams don’t actually spend anything. The alternative, building your own network of economic security, is really expensive and time consuming and leaves your chain less secure.
There’s game theoretic reason for the auction slot mechanism. It incentivises community building and trust and value creation. If you have a passionate community and provide value you will get enough crowd loan support and after lease ends you keep the slot if still valuable.
And here in the real world have you seen the Tokenomics on these projects? Check out ACALA and GLMR. Absolute Trash. If you want to incentivize trust and value creation, have the team lock their tokens for at least 2 years *after* the length of the crowd loan, not before.
From your professional point of view, is it possible to shorten the block generation time of parachains to 6s? how long will it take? That’s probably going to be the next blog post. We have begun the implementation of this improvement along with other related optimizations.
I look forward to your substantial progress. The upgrade of the parachain to 6s will make the Polkadot parachain perfect as an L1 and very competitive.
Few understand how important these contributions are. They will allow us to prevent MEV and give us more time to provide secure transactions to users.
I feel way smarter now. Not sure about what I read but I’m definitely smarter now. Yes, I know it. This is super informative. Much appreciated.
