Polkadot Ecosystem Overview: Move slowly but surely

The Polkadot ecosystem will be discussed in detail in this article, starting with an overview and working down to the nitty gritty.

Polkadot Overview

Polkadot - a layer 0 platform that connects layer 1 platforms together. Polkadot allows blockchains to connect with each other to share data and form a decentralized network.

Unfamiliar with this concept? Let me give you a detailed example!

We already know that Ethereum, Solana, or BNB Chain are some of the most reputable blockchains in the market. These blockchains will be called "layer 1 chains," which means that they are only responsible for the dApps built in their ecosystem and that each blockchain is completely separate from the rest.

Thus, if we want to exchange assets or data from one chain to another, it must go through bridges.

However, layer 0 (known as Polkadot) is the main layer that connects all layer 1 blockchains together. Let's say if Ethereum and Solana are the Earth and Mars, respectively, then Polkadot is the Sun, the centre of the solar system

In Cosmos, the main chain is referred to as Cosmos Hub, and the layer 1 chain is called Zone.

But in Polkadot, layer 0 chains are called Relay Chains, while layer 1 chains are known as Parachains.

Polkadot Highlights

Heterogeneous Sharding: Different blockchains can run on the same network.

Cross-Chain Composability: Polkadot supports cross-chain communication. Segments can deliver messages to communicate, exchange value, and share functionality.

Polkadot is built as a network layer 0, allowing Layer 1 platforms like Ethereum to work together on the same network. As the crypto market expands with many new chains appearing, Polkadot is built with the purpose of becoming the next step of the crypto market, connecting single pieces into a unified whole.

Polkadot’s Highlighted Numbers

Updated March 23, 2022

$141.8B: Total Market Share of the entire Polkadot