DOT - Polkadot

Polkadot Architecture

  • Relay Chain (L0 protocol) - heart chain, responsible for network security, consensus & cross-chain interoperability

  • Parachain (L1 chain) - sovereign blockchain, rely on Relay chain's validation power

  • Bridge - bridge chain, allow Polkadot shards to communicate with external blockchain like Ethereum

Parachain advantage

  • Flexibility - customizable native token, fee structure & economy

  • Interoperability - parachains are cross-chain composability, can communicate with each other

  • Scalability - Polkadot enable parachains as individual blockchain, parachains are also capable to incorporate l2 solutions

  • Security - connect with Relay chain to shared its security

Slot auctions & Crowdloans

  • Parachains connect to Polkadot by leasing an open slot on the Relay Chain via auction

  • invest in parachain projects you support to earn project tokens / rewards

  • facilitate a community driven way to maintain the quality of new projects

  • How auctions work

    • parachain teams lock up DOT tokens for the duration of the lease

    • locked DOT cannot be withdrawn during the lease, return all DOT token after the lease

    • prachain teams can coduct crowdloans to accept DOT contribution from supportors

    • lease ranging from 12-96 weeks

    • one parachain can be used by different projects given the lease is not overlapping

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