This article was first published on Loom Network - Medium
At Loom Network, we want to enable developers to build dapps that are easily accessible across all major blockchains, and for users to be able to use dapps without wasting time trying to figure out the intricacies of the blockchain each dapp happens to be running on. To that end we’ve already built integrations with Ethereum, TRON, and Binance Smart Chain, and now it’s time to start planning the next major integration for our ever growing ecosystem of blockchains. We think building an integration with Polkadot makes the most sense, but before we begin working on this in earnest we’d like to get some feedback from our community to make sure we’re on the right track.
What is Polkadot?
Polkadot is one of the most popular blockchain projects at the time of writing, it was started by Gavin Woods, Ethereum’s former CTO. The project consists of a heterogeneous multichain with shared security and interoperability. In other words, there’s a central Relay chain, and all Polkadot validators stake and validate on this chain. The Relay chain supports only a small number of transaction types that control the governance mechanism, parachain auctions (more on these later), and participation in Polkadot’s Nominated Proof of Stake (NPoS) system.
Basically, the Relay chain provides the bare minimum functionality necessary to coordinate the Polkadot ecosystem as a whole, while most actual work (e.g. executing smart-contracts) is delegated to other chains (in Polkadot nomenclature these are called parachains). Parachains can be built by anyone, so our Basechain network could connect to the Relay chain in order to provide a smart-contract platform and token bridges for the entire Polkadot ecosystem.
Most blockchain projects have one production network (usually referred to as mainnet), and one or more test networks (testnets). Polkadot is a bit different in that regard as ...
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Loom Network - Medium