Scalability and interoperability are two of the main issues facing blockchain protocols today. In a future in which entire industries and economies rely on distributed technologies, it is unclear how blockchain networks will support massive amounts of data, and exchange transactions in a trusted way.
Peter Czaban, co-founder of Polkadot, joins us as we dive deep into the Polkadot Network. Polkadot is a heterogeneous multi-chain network, consisting of many connected chains (or parachains), all of which have their own set of features and characteristics. Transactions flow across chains, while Polkadot ensures the global security and consensus of the network, forming an ‘Internet of Blockchain networks’. Scalability is achieved through the parallel processing of transactions on the different parachains.
Topics covered in this episode:
- Peter’s background and his role at Parity technologies
- What is the Polkadot project and what problems it is addressing
- How Polkadot handles the issue of scaling
- The different components of the Polkadot Network
- The various players in the network
- The consensus model used in Polkadot
- The types of applications Polkadot would enable
- The Web3 Foundation and its goals