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  • locked DOT cannot be withdrawn during the lease, return all DOT token after the lease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