About
Polkadot is a pioneering "Layer 0" meta-protocol designed to create a fully decentralized and interoperable web, often referred to as Web3. Founded by Dr. Gavin Wood (a co-founder of Ethereum who coined the term "Web3"), Polkadot’s unique architecture allows vastly different blockchains to connect, communicate, and share security within a single ecosystem. At its core is the Relay Chain, which provides the foundation for the entire network's consensus and security. Connected to this Relay Chain are specialized, sovereign blockchains called Parachains, which can be customized for specific use cases like DeFi, identity, or gaming.
Unlike traditional blockchains that struggle with scalability, Polkadot processes transactions across all parachains in parallel, theoretically allowing for over 100,000 transactions per second (TPS). The DOT token serves three vital functions: governance (holders vote on network upgrades), staking (securing the network via NPoS), and bonding (attaching new parachains to the network). By enabling the seamless transfer of any type of data or asset, not just tokens, Polkadot serves as the "internet of blockchains," breaking down the silos that have traditionally limited the growth of the decentralized economy.
