In 2020, there will be two hot spots in the currency circle, one is "DeFi lending" and the second is "Polkadot ecology". After the DeFi boom, will Polkadot cross-chain become a new outlet?
Polkadot is Polkadot in English. The official interpretation of Polkadot: Polkadot is a blockchain network. By providing a powerful underlying security system, different blockchains with various functions can coexist and communicate in this network, providing the next generation of Internet Web3.0 Provide the basis.
For example, although Bitcoin and Ethereum are the most mainstream chains, they are completely independent in nature. They are in two parallel worlds and cannot communicate with each other. One of Polkadot's goals is to allow these mutually independent chains to be connected in the Polkadot network to form a network effect, rather than a structure that is not related to each other. This is the meaning of its cross-chain.
What is Polkadot ecology? Polkadot is a heterogeneous cross-chain and a heterogeneous multi-chain. It deploys all the public chains issued by Substrate into the ecology through parallel chains. That is to say, it is not enough just to issue a token on a chain in Ethereum, but to officially become a parachain of this chain through the auction of parachain slots in order to become a part of the Polkadot ecology. Polkadot realizes the vision through relay chains, parallel chains and transfer bridges. Shared security and one-click chain issuance are also considered by industry insiders to be the core competitiveness of the Polkadot network.
DeFi and Polkadot are not separate, because now there are many DeFi infrastructures on Ethereum, and everyone is using Substrate to slowly transfer to the Polkadot ecosystem.
The native token of the Polkadot network is DOT.
The Web3 Foundation Polkadot is an independent official foundation that specializes in investing in and sponsoring ecological projects developed by Polkadot, and funding projects at all levels of the Web3 technology stack. Data shows that the Polkadot Web3 Foundation has funded 129 ecological projects with an amount of US$6.45 million.
The Polkadot mainnet is gradually launched and DOT transfers are enabled. Next, Polkadot will also open parachain slot auctions and launch core functions. The Polkadot ecology may soon enter an explosive period.
