Review on Polkadot [IOU] by altınburak yağız
A user-friendly decentralized web.
Hello everyone, friends,
This week, I reviewed the polkadot technology, purpose and token.
Polkadot is a project supported by a Switzerland based web3 fund. It is functional and user friendly. It has the mission of creating a decentralized web that is only under the control of the users.
Its technology has a parallel chain of 4 stages. One of them is relaychain, which is known as the heart of polkadot. It is responsible for connecting secure shared networks. Parathreads allows you to stay on this blockchain chain without being constantly connected to the network. The bridge acts as a bridge with other tokens and coins.
To put it a little easier, as you know, many blockchain technologies, including bitcoin and ethereum, work on a single network. This causes density and increases commission fees. It also has a negative impact on miners' expenses. Thanks to this 4-phase parallel network, Polkadot reduces the block time to 6 seconds by offering quad-core processing capacity instead of single-core processing. And it does this with very low commissions.
Many more operations such as smart contract chains, identity chains and the internet of things (mxc protocol) can be performed on Polkadot.
Finally, the DOT token has an increasing value, but it has a structure that encourages honesty to its users. It punishes potentially harmful and vulnerable users and has a system that rewards beneficial users as well.
Good luck to everyone...
![img 1 attached to Polkadot [IOU] review by altınburak yağız](https://images.revain.org/blob/review_0808b054_35fb_46f1_9a9e_a2dc68f15d60_image_0_0c04951ac8.jpg)
Pros
- Easy access to the dot token.
- fast and low transaction costs.
- Possibility of other users to create chains.
- A project for the future.
Cons
- Multiple projects in the same ecosystem.
