What makes Polkadot an attractive project and what problems does it solve?
One of the existing challenges for blockchain projects going really “big” is a lack of interoperability and scalability.
''Interoperability'' means that different blockchains can interact with each other and safely exchange data and ensuring consistent results to a user accessing one or another blockchain.
''Scalability'' is a big issue in blockchain which is well described by the Scalability Trilemma. Scalability is measured by the capability of the blockchain to process many transactions within an interval of time, i.e. allowing fast operations.
Both properties are important for real-life applications: 1) scalability attract more users and can process more data while interoperability makes it possible for blockchains with different functionalities to exchange data and perform common operations (imagine, for instance, a case of insurance payments where interactions of different agents are required).
Polkadot claims to address the issues of scalability and interoperability by providing a basis for the “Internet of blockchains” — a platform for different blockchains to interact while secured by a common consensus algorithm.
Web3 is a project that crystalises the overarching idea of Polkadot — interconnected blockchains with different functionalities with open access and diverse participants, all on the base of Polkadot. The scale and ambition of the project makes it definitely worth to keep an eye on.
Web3 and Polkadot have an impressive team behind them. Founders are Dr.Gavin Wood, co-founder and CTO of Ethereum, as well as Peter Czaban and a Thiel Fellow Robert Habermeier. The research work is conducted together with Inria Paris and ETH Zurich. The tech part is done by the developers from Parity Technologies, with the support of the capital partners from crypto-funds such as Polychain Capital. Strong team and good connections in the crypto world is one of the attractive points of the projects.
i also some more research on this and am nt goin to lie its a damn nice project
ShinForex1
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@Richy21, fuck yeah mate. crazy as sound. diversifying portfolio with "cosmos" and "Aion" is also smart. to hedge against technological development
WMWToronto
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Very good fundamentals on this asset and your chart appears to be dead on. I'm going to give you an "A+" on this project. The only thing lacking is a price prediction for the near future (say over the weekend) and a gross profit margin, if one was to go long on this asset for a little while. We are moving close to the month of Sept. where I believe we will have a little shift in the market place.
Very good !
Thanks for your efforts.
Ward Weaire
Toronto, Canada
Off for a coffee now.
ShinForex1
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@WMWToronto, For me i look at it as early stage ICO investment,When you have great team, Solving a big problem in the space and you have other project building on top of that... and if they are really accomplishing the goal the set on the white paper, Its a PLus. also they have a Kumasa which they are testing this technology on so i can see how this. can fundamentally change in the future
roitman
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Great insight! What you think about 1/2w price prediction?
On coinmarket cap the page was just changed a week ago and not updated yet
ShinForex1
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@roitman, if you are talking about the price.The percentage of the DOT you own relative to total supply will be unchanged.DOT token will undergo a redenomination by factor of 100 . if that is what you are asking for?
roitman
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@ShinForex1, i mean how much DOT could reach in short 1 /2 week
on binance the chart is new about just 1 week and I didnt follow this Token yet to have a history and past prices
thank you very much, sir
ShinForex1
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@roitman, Just relative new project so there is no too much historical price at the moment. Mostly focused on the team, underlying technology that it is solving, and what are they gonna do to increase adaption of the token,..overall it just launch it mainnet couple month ago. there also other project solving similar problems like cosmos
michaelnguyen629
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Dot is undervalue at least 10 times accordingly to the market cap which is almost $6 billions at price of Dot $6.50.