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Polkadot - The Ethereum Killer

Polkadot - The Ethereum Killer

Polkadot- Introduction

Polkadot is the magnum opus of Dr. Gavin Wood, the founder of Ethereum and creator of Solidity (the programming language used by Ethereum).

It enjoys two main competitive advantages over other similar platforms. Just like Ethereum and Cardano, Polkadot also allows the creation of Smart Contracts.

Although Smart contracts serve great importance, there is no denying the fact that there already exists a lot of highly effective Smart contract platforms which are comparatively better than Polkadot.

Therefore, the more important advantage for Polkadot is the other one. Interoperability.


Interoperability- The paramount of Polkadot

The limitation displayed in the current-gen Blockchain system is that there exist too many. These blockchains operate in isolation with complete independence from each other, and as of yet, there is no way of having them communicate and transact with each other in an efficient manner.

What Polkadot is working towards is bridging this gap by providing interoperability between all Blockchain networks. It will allow any and all Blockchain to be able to communicate and transact with each other in a trustless way under the mutual grounds of Polkadot itself. This system of Blockchain innovation is called Cross-Chain Interoperability.


$DOT- The Polkadot native token

DOT is the digital token used in the Polkadot network and it has 3 main uses: Governance, Staking, and Bonding.

Governance: All DOT token holders are given the right to vote over important decisions regarding Polkadot. Votes are weighted with respect to the number of tokens held by a person.

Staking: DOT holders can help secure the Polkadot network by staking their tokens. For this, they are awarded DOT tokens as incentives.

Bonding: In order to buy Parachain, DOT needs to be bonded. Bonding refers to the process of attaching DOT tokens to the relay chain whenever a new Parachain is added.



Polkadot is referred to as an Internet of Blockchain, a stepping stone to the innovation of the next form of Ethereum. It aims to provide a central platform where all Blockchain networks can co-exist and operate together, to assist a more efficient system of work. But will it actually replace Ethereum? What are your thoughts?

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