Will Polkadot save decentralized finance from Ethereum’s scaling problem?
Polkadot is trying to achieve scalability without compromising network security. Early signs suggest it may beat Ethereum 2.0 in the transaction fee race. Web3, interoperability, and layer 0 are all terms tossed around when describing Polkadot. But what do they mean, and how will they impact the Internet and cryptocurrency market? Cointelegraph Research’s new report explores how Polkadot is tackling distributed ledger scalability and centralization of the web simultaneously. For starters, imagine a world where Facebook is replaced by a decentralized social media application built on....
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Polkadot may beat Ethereum 2.0 in the transaction fee race. Web3, interoperability, and layer 0 are all terms tossed around when describing Polkadot. But what do they mean, and how will they impact the internet and cryptocurrency market? Cointelegraph Research’s new report explores how Polkadot is tackling distributed ledger scalability and centralization of the web simultaneously. For starters, imagine a world where Facebook is replaced by a decentralized social media application built on Polkadot. This is what projects like Subsocial are building in their platforms which lets users....
Blockchain venture capitalists continue to fund Polkadot projects with growing conviction. SubQuery aims to bring data indexing infrastructure to the network. Decentralized data aggregator SubQuery has concluded a $9 million funding round to build Polkadot’s first data aggregation layer, a move that could strengthen data indexing for the emerging interoperability network.The investment funds will be used to continue building SubQuery’s data indexing infrastructure for all Polkadot and Kusama applications, the company announced Wednesday. SubQuery also announced the investment would help it....
PolkaBridge development has been gaining steam and our first priority is a smooth / hassle-free launch of our “MultiChain Automated Market Maker (AMM)” decentralized exchange. Currently, we are present on the Ethereum blockchain and we plan to onboard the Polkadot blockchain fully, once it launches with all functionality. However, our mission is ensuring wide compatibility and offering our product to diverse communities. That’s why we plan to launch on Ethereum’s full-stack scaling solution Polygon. Why Did We Choose Ethereum? The Ethereum blockchain is the world’s leading smart contracts....
It's a possible hurdle to cross, but it could take some time. Ethereum 2.0 recently fired up its Beacon Chain, concluding Phase 0 of a scaling effort years in the making. Although he expressed faith in Eth2, Celsius CEO and founder Alex Mashinsky believes that the network could lose its spotlight if it doesn’t scale quickly and significantly.“Ethereum needs to prove it can scale its transactions 100x without compromising on security or decentralization,” Mashinsky told Cointelegraph when asked about Eth2’s next hurdle after its Beacon Chain launch. “If it fails to scale, Cardano and....
Decentralized finance isn’t exclusive to one platform or network, and the Polkadot-based MANTRA DAO intends to unite the disparate world of DeFi under one decentralized autonomous roof. Polkadot’s entry into the top ten cryptocurrencies by market cap signified the rise of one of the most serious competitors to Ethereum to date. With that emergence comes […]