When it comes to blockchain architecture, one size does not fit all. The current blockchain landscape is highly fragmented, with multiple, independent blockchains all operating in isolation. This means that time, talent and resources are diverted into building competing networks, rather than creating a standard everyone builds off of. Until recently, there was no efficient way for these separate chains to operate and communicate with each other to share data, transact, or exchange value.
The blockchains in isolation can only process a limited amount of traffic. Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network. It will allow any blockchain: private and public, as well as oracles and decentralized apps to talk to each other and be connected in a trustless way under a single decentralized Polkadot network. Its ultimate aim is to act as a framework for all blockchains that opt-in, a bit like how HTML allows sites, browsers, and servers to interact with each other. Networks and applications on Polkadot can share information and functionality like apps on a smartphone, without needing to rely on centralized service providers with questionable data practices. It can also process many transactions on several chains in parallel, eliminating the bottlenecks that occurred on legacy networks that processed transactions one-by-one. This parallel processing power significantly improves scalability and creates the right conditions for increased adoption and future growth.
Day by day, the Polkadot ecosystem is growing larger and more robust as teams realize the benefits and efficiency of deploying their project to Polkadot. Polkadot’s unique design gives projects more possibilities for innovation and flexible iteration than was ever possible in previous networks. By bringing multiple specialized chains together into one scalable network, Polkadot enables blockchain technology to reach its full potential for real-world use cases, giving rise to new markets and paving the way for future decentralized economies.
Therefore, we are incredibly bullish on the outlook for Polkadot’s native token DOT. DOT has traded as high as $50’s before the recent correction in the Crypto space. Most of the altcoins sold off in the range of 60% to 70% from their recent highs, but we think this is a tremendous buying opportunity for some of the altcoins with very strong fundamentals.