You may be thinking How to Buy Polkadot, but do you know the intricate mechanisms behind the blockchain that is gaining popularity by the day? Read on to find out.
Today’s crypto-world issue includes many blockchains, which means more transaction fees or gas prices for simpler processes like sending tokens from one wallet to another.
As a result, you lose money because if you don’t have enough funds in your account to make a certain transaction, you’ll have to pay for it. Furthermore, each blockchain has different mechanisms when it comes to how much they charge and whether the transaction will be valid within a certain period of time or not.
Polkadot ICO aims at solving this problem by creating a new kind of consensus algorithm that allows blockchains to talk with each other. Not only that, but their technology could be useful if you’re launching token crowd sales because it may help you deliver tokens to multiple blockchains, all without additional fees charged by exchanges included in the picture.
This is quite different from another project called Cosmos which was created while building on top of Ethereum. In addition, we’d like to point out that Polkadot ICO’s developers have worked with Ethereum founder VitalikButerin in the past, which is quite a big deal, especially for those looking into other blockchain technologies.
One of the main goals behind this project is to ensure that users will be able to move their tokens between blockchains without worrying about transaction fees and the speed of confirmation. This could help businesses deliver their services much easier than before since they’ll only need one token or currency for all blockchain activities.
Furthermore, since Polkadot ICO uses the Proof-of-Stake mechanism, we believe it may become highly scalable once implemented thanks to sharding technology.
As expected, there’s no specific date listed when it comes to the project’s launch because you shouldn’t expect any developer team to give a precise date for a specific product release. However, what is important is that Polkadot ICO aims to create a scalable, fair, and secure platform that doesn’t require any additional fees to be paid by the user when they move their assets from one blockchain into another.
Polkadot ICO’s team and its core features
Several key members of this project have worked on different projects together, including Ethereum, Parity Project, Web3 Foundation, or Chain space. However, considering their background experience within the industry, we believe that all three of them should successfully achieve the project’s main goals before time runs out for it.
This decentralized platform allows building applications using Parachains as well since there’s a need for them to be interoperable with each other. As a result, users should access those chains without worrying about transaction fees or whether it will take too long for transactions to be confirmed by miners. In addition, Polkadot ICO uses a Relay Chain that links multiple parachains together and acts as one point of failure if some of those chains go offline.
Not only that, but Polkadot ICO aims at increasing blockchain’s security since it uses a consensus algorithm called PoS-BFT. Their platform also makes sure to solve scalability by using sharding and state channels to improve blockchain performance. Finally, we should mention how this project enables users to move their assets from one chain into another without paying additional fees, which will help businesses deliver their services much more efficiently than before.
Why should you buy dot?
Of course, one of the main reasons why you should consider investing in Polkadot ICO or its tokens is because their ICO will happen sometime in the first quarter of 2018. Another reason worth mentioning is that this platform has quite a big team with experienced developers who can deliver on time and possibly even early to depend on how things go for them.