Polkadot (DOT) All Set for Web3 With Parachains!

Polkadot (DOT) All Set for Web3 With Parachains!
  • Polkadot (DOT) raises up with new parachains.
  • Polkadot supremizes itself for Web3.
  • Iota Foundation Co-founder Dominik Schiener comments optimistically.

With the onset of Web3, the entire blockchain sector is in a hustle and bustle. In such terms, being one of the most prominent and a much capable all-rounder blockchain, the Polkadot (DOT) equips itself so well for the future, ready to face the Web3. 

As the first step towards Web3, the Polkadot network launched about 5 different parachains on December 18, 2021. Accordingly, the Polkadot platform states that their main aim is to establish seamless interoperability between multiple blockchains at the same time. 

Moreover, the team from Polkadot terms that this is the result of their five years of profuse research and development. 

Besides, out of many projects created, they set a parachain auction for the projects, selecting five distinguished ones. These are the Acala, Moonbeam, Parallel Finance, Astor, and Clover. 

The Optimistic Views 

The Polkadot founder who is also the Ethereum (ETH) co-founder, Gavin Wood, terms that the current blockchain ecosystem is growing at a rapid pace. 

In addition, Wood denotes that, making the situation worse are the entry of the metastases, thus increasing the blockchain interference. 

Also, he adds that in such a situation there will be multiple blockchains and there will be a need and necessity to interlink them. Therefore, with a series of parachains, obviously the Polkadot network gains the upper hand. 

On the other hand, the co-founder and chairman of IOTA Foundation,  Dominik Schiener states that the Assembly network from IOTA is based on a similar polarity, focused on bridging various smart contract chains.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.