Yesterday, the POD Conference hosted by Odaily and co-organized by 36Kr Group was held in Beijing today. At the meeting, Joshua Oakley, head of Polkadot products, delivered a keynote speech on "Interoperability Connecting The Dots".

Joshua Oakley believes that the reason for the relatively low efficiency of the public chain is that the consensus mechanism and the state machine are not better combined. Polkadot's core technology transfer chain can transfer information from the parent chain to other chains through the state machine. Running multiple chains at the same time can increase the workload. For example, the workload of parallel transactions on ten different chains can increase tenfold, but there are requirements for scalability. Joshua Oakley said that Polkadot's scalable consensus mechanism can enable efficient interaction between different chains.

He believes that every blockchain has two important components, one is the state machine and the other is the consensus mechanism. The reason why the efficiency of the public chain is relatively low is that these two important factors are closely integrated. The state machine is used for registration, registration from state A to state B, and each state is to conduct transactions and payments online. Interactivity is how to combine state machine and consensus mechanism

The development of Polkadot mainly solves some existing challenges and problems. For example, one system may equally suit all needs. Second, the needs of many enterprises have not been met. For example, some companies don't like to put data on the public chain because they don't like being managed by the public chain. Therefore, Polkadot will combine similar requirements together. The third problem is that the current layout and planning are split. Many projects are building blockchains in their own way, and they communicate with each other through centralized services. But this is actually reducing the role of the Internet. If these chains are combined, the efficiency of communication can be greatly improved.

Among the core elements of Polkadot, the transmission chain can pass information from the parent chain to other chains through the state machine. All rights and interests can interact through the transfer chain.

According to Joshua Oakley, sometimes it is difficult to pull all the security resources together.

Polkadot also has interactive operations, such as the mutual communication between different supply chains and private chains, which may require many intermediaries. But Polkadot's smart contracts allow them to interact with private chains, banks, different bank accounts, and different public chains on the public chain at the same time. This of course puts high demands on scalability.

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The following is the full text of the speech:

good morning everyone!

Thank you very much David for the invitation. I am very happy to be in Beijing. My name is Joshua Oakley, and I am from the Polkadot project.

Polkadot is a scalable, decentralized protocol that can interact across chains. Today I mainly talk about interactivity and how to achieve interactivity.

First of all, every blockchain has two important components, one is the state machine, and the other is the consensus mechanism. The reason why the efficiency of the public chain is relatively low is because these two important factors are closely integrated.

The state machine is used for registration, such as registration from state A to state B, and each state must be traded and paid online.

Interactivity can combine state machines and consensus mechanisms. We may have developed many chains, but we cannot manage them perfectly, so we need some solutions.

Then when we develop Polkadot, we mainly solve the existing challenges and problems. The first is that a model may not be able to adapt to all needs, because different blockchains have different data, data size, and different projects have different needs.

The second point is that the needs of many enterprises have not been met. Many enterprises do not like to put their data on the public chain, and they do not like to be managed by the public chain, so our approach is to put different chains combine together.

The third problem is that the current layout and planning are split, and many blockchain projects are building blockchains in their own way. In addition, they also need to communicate with each other through centralized services, but this actually reduces the role of the Internet. If we can combine this chain together, we can greatly improve the efficiency of communication.

So what is our Polkadot? Our central element is the transfer chain first, which can transfer information from the parent chain to other chains through the state machine, and at the same time, these rights can be interacted through the transfer chain. It can transfer transactions between different chains, and can improve security through consensus mechanisms.

The picture above illustrates this principle. One of the very important problems is that sometimes it is difficult to get all the security resources together. We prove through the POW workload, some small chains, for example, they may have a 51% possibility of being threatened, and there are some computing resources, some centralized resources, can they resist attacks? This is what Polkadot is going to do.

The picture below has public chains, Polkadot, interactive operations, supply chains, and private chains, such as a private chain of a private bank.

So in actual operation, these chains need to communicate with each other, which may require many intermediaries. If there is a smart contract, operating on the public chain can simultaneously communicate with private chains, banks, different bank accounts, and other public chains through our interactive operations.

So finally I want to talk about another feature of Polkadot, which is scalability. Because if multiple chains are paralleled at the same time, a lot of value can be added. For example, if ten different chains interact in parallel at the same time, the workload can increase tenfold, but the scalability requirements are very high.

And Polkadot is a scalable consensus mechanism that can help different chains communicate efficiently. thank you all!