Polkadot is rolling out the most robust platform for security, scalability and innovation. Having launched the genesis block of its Relay Chain in May 2020, Polkadot is now on track to launch several para chains in 2021.
Dr. Gavin Wood, Co-Founder CTO Ethereum, Founder Polkadot stated, we were just kind of thinking how we could may be create the next version of Ethereum. He pointed to how we already have technologies like Bitcoin and Ethereum, which were able to in some sense dis-intermediate men – the middle men, many of the institutional authorities and remove the need for much of the trust in society.
He pointed to how we currently have a patch work of independent and isolated ecosystem of the internet. This in turn creates a lot of groups with different vision creating a misalignment in how they wished to achieve it – creating borders, while borders do not need to be there.
We have this great new technology that is allowing us to alternate one of the very fundamental aspects of the economy, which is trust, which is this idea that I could have reasonable expectation on what is going to happen without having to trust someone.
He pointed to how it was a general idea when starting Ethereum back in 2014 that Ethereum 2 should be under development by late 2016, here we were sitting around in 2016 and there was absolutely no indication that there is going to be any development that is significant at least on Ethereum 2 for some time and so we really wanted to push forward with Ethereum in one way or another in a way to embark on something that will be complementary to Ethereum. In a way to assist and fulfill all those that Ethereum 2 will be less optimal in fulfilling.
So, all these led to the coming of Polkadot. Polkadot is multi chain. The idea is that it is a blockchain, but bundling different blocks of all at the same time be executed in parallel so that all of these things can be executed in the same time.
Endeavoring so we created a sort of multi chain because every block is actually also made up of different blocks that in principle can run 100 times the amount of transactions that which just one chain like Bitcoin or Ethereum could.
Polkadot therefore he states in many respects is a bet against chain maxi-malism. He stated that even if there will be one perfect blockchain it will not be so for very long time.
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