brief explain of Polkadot

table of contents.

● Introduction

● Architecture

● Advantage

● Consensus

● Tokenomics

Introduction

Polkadot is a protocol which allows blockchains to connect to different blockchains via Polkadot, it allows any type of data, tokens to be sent between any type of blockchain. It is developed by Ethereum co creator Gavin Wood, and was launched on May 26, 2020.

Imagine you want to build a game chain, you need different functions, and you wouldn’t want to do it all by yourself. As an example, if the game need a recharge function, you might need some DeFi functions, and maybe you need NFTs to build the game, then you’ll have to get all these functions, and these functions has already been set on other blockchains, you can get them from those blockchains.

So this is what Polkadot does, it combines different blockchains, they can cooperate, and focus on whatever they are good at, increase their performance, and let the others do what they are good at. In brief, a crosschain protocol.

So how exactly does it works, we’re gonna see it architecture first.

Architecture

The structure of Polkadot is different from the other public blockchains.

Polkadot is radial, it consists of a relay chain in the middle, and the surrounding parachains and bridges.

architecture of Polkadot

Four different chains on Polkadot:

• Relay chains
  • The heart of Polkadot, responsible for the network’s security, consensus and cross-chain interoperability.
• Parachains
  • Sovereign blockchains that can have their own tokens and optimize their functionality for specific use cases. Parachains is connected to Relay chains by leasing a slot on it.
• Parathreads
  • Parathreads are parachains that are temporarily participate in Polkadot security without needing to lease a dedicated parachain slot.
• Bridges
  • Special blockchains that allow Polkadot shards to connect to and communicate with external networks like Ethereum and Bitcoin.