Block space and Polkadot 2.0$DOT 🔻

Before talking about the concept of Polkadot 2.0, we need to popularize some pre-knowledge about "block space": Block space can be said to be an abstract concept description. Let me give a more concrete example.

(1) You can imagine the blockchain as a highway, each block is like a section of the highway, and the block space is the number of available lanes in each section. Just as each section of the highway can only accommodate a certain number of vehicles, each block of the blockchain can only process a certain amount of data and transactions.

(2) When transaction demand is high and block space is limited, it will cause long-term congestion, just like peak traffic hours on the highway. This congestion may lead to an increase in on-chain transaction fees.

On the contrary, when there are fewer transactions and more available block space is idle, it is like off-peak hours on the highway. Less traffic congestion, transactions can be processed faster and at lower costs

The above is a description of some scenarios for block space. Based on this example, I will take the transition from Polkadot 1.0 to 2.0 as an example:

(1) Polkadot 1.0 is the grand parallel chain & relay chain model. The ecosystem builds L1 under the Polkadot framework through auctioning slots. This has a big disadvantage, that is, the early startup cost is very high and cumbersome;

(2) Last year, a 2.0 concept was proposed. Simply put, applications can purchase corresponding network performance (block space) according to their own performance requirements, which is a bit like further slicing the original blocks for distribution.

The transition from Polkadot 1.0 to 2.0 is a shift from the chain level to the application level. From a landlord to a "shared office" business model

This is different from the current "chain application prosperity" pattern planning of "ten thousand chains interconnected". The core of this planning is not the expansion of the chain, but a new way of allocating resources.