What does the Polkadot ecosystem mean (Polkadot ecosystem trustbase)?
What does the Polkadot ecosystem mean? What does the Polkadot ecosystem refer to
What does the Polkadot ecosystem mean? What does the Polkadot ecosystem refer to? Polkadot is a kind of blockchain network composed of multiple parallel chains. From the perspective of PolkaWorld, the concept of Polkadot is “Internet protocol.” Polkadot has its own branches and subnets, and each subnet is an independent network; other parallel or upper-level applications also rely on various smart contract systems on these main networks.
Simply put, when we talk about blockchain technology or decentralized finance, “Polkadot” means an important component of the Polkadot ecosystem – distributed ledger. This means that different types of data can be stored in different blockchain platforms for transactions, and it allows nodes to share information to achieve data availability, security, and other functions. Therefore, “Polkadot” (DOT) has the following definitions: anyone can participate in the development, creation, and maintenance of blockchains, but they also need to pay a certain fee to operate the blockchain platform.
In addition, Polkadot also provides an open infrastructure. This framework provides a set of infrastructure services for applications and projects, such as wallets, exchanges, games, and other similar things. Polkadot version 1.0 includes a new consensus algorithm – the staking mechanism. (Translated by Substack)
Polkadot ecosystem trustbase
Supported by the official Polkadot, the Polkadot ecosystem trustbase has officially launched. The team will join forces with the Web3 Foundation to build a decentralized hosting platform based on the Polkadot ecosystem, providing services such as security audit, transaction execution, and community management. They also launched the DOT-based voting system Polkastarter and the first on-chain governance tool Subscribe.
TrustBase is the longest-established non-profit organization in the blockchain industry, dedicated to becoming one of the first investment institutions in the Polkadot ecosystem that focuses on project investment and incubation.
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