What is Polkadot (DOT)?
Polkadot is a next-generation blockchain platform designed to connect multiple specialized blockchains into a single unified network. Founded by Dr. Gavin Wood, co-founder of Ethereum and inventor of the Solidity programming language, Polkadot aims to solve two major challenges in the blockchain space: interoperability and scalability.
With its advanced NPoS consensus mechanism and parachain technology, Polkadot can handle around 1,000 transactions per second (TPS). Polkadot’s TPS is expected to increase to over 100,000 when running more than 100 parachains. With the asynchronous support upgrade, the TPS is expected to increase tenfold to 1,000,000.
Polkadot was launched in 2020 and quickly gained attention for its innovative architecture. Unlike traditional blockchains that operate in isolation, Polkadot allows different blockchains, known as parachains, to work together seamlessly. This ability to connect different blockchains opens up new possibilities for decentralized applications and services.
