Ever walk into a room and not speak the same language as everyone? Awkward, isn’t it?
That is what life is like for most blockchains. There is a language hedge that does not allow blockchains to talk to each other. Polka dot (CRYPTO DOT) is a new cryptocurrency that might just be suitable to break this problem and produce an occasion for smart investors.
Polka dot is the blockchain of blockchains. Let us look at three reasons why Polka dot is a token to watch right now.
Dapple
Dapple provides a solution to the interoperability problem that most blockchains face. For a number of reasons, these networks are an unrestricted-circle, with security being the primary priority for most decentralized networks.
Dapple enables unreliable communication across blockchains. That is, they do not require confidence in a single third party for efficient communication among various systems. Advertised Links Pall Durability provides businesses with peace of mind for the time being, that investor would have to employ some type of exchange to smooth the way.
There is the requirement of a centralized service, such as finance. Furthermore, most decentralized exchanges would need investors to “wrap” the Bitcoin or Ether before finalizing the transaction. Polka dot aims to solve this problem by developing an untrustworthy method for blockchains to connect directly with one another. This would enable direct bartering between investors.
In a broader sense, it enables diverse technological blockchain systems to collaborate and create sophisticated services from basic components.
Dapple stands as a potentially disruptive force in the world of decentralized finance (DeFI). By not being forced to use a centralized exchange to change a cryptocurrency, investors can avoid the freights and headaches of this process.
For Polka dot investors, this mileage creation is a crucial reason to consider the DOT commemorative and the Polka dot network right now.
The Analogy
People are incredibly frustrated by getting stuck in traffic on the way to work. Moreover, this analogy rings true for crypto users looking to corroborate a cryptocurrency sale.
In some ways, the amount of transactions per second that a blockchain can process is in comparsion with the toll lanes on a highway. If an investor wished to submit a large number of transactions, the number of lanes on the road would be a constraint. Futhermore, this is the problem that sharding solves. It divides the blockchain into distinct “shards” so that there is the individual handling of transactions. In effect, this entails constructing an increasing number of lanes on the road for cars/transactions to travel down.
They should consider the ramifications of this. Polkadot can now handle 1,000 transactions per second (TPS). Investors estimate that Polkadot is capable of handling over 1,000,000 TPS when fully operational. In fact, the bitcoin business has never witnessed such rapid growth.
This implies that consumers will benefit from a more scalable platform with faster transactions and reduced costs. As a result, investors evaluating Polkadot right now see it as an opportunity to participate in a cryptocurrency network that has solved a fundamental scalability problem that other cryptos have struggled with.
