Summary
- Polkadot is the next-generation blockchain platform
- It allows different blockchains to run parallel to each other on the same platform
- It unifies the strengths of different blockchains
Polkadot ($DOT), commonly referred to as the next-generation blockchain platform that acts as a link for all other blockchains, is a project created by developers for developers. Polkadot was developed mainly to connect oracles, public and private chains, dApps, and DeFi services in a way that they can all work side-by-side.
Polkadot is a bridge protocol that focuses on value transfer, communication, and security pooling for different blockchains. On Polkadot, blockchains can operate parallel to each other on the same network. This unification is a way of compounding the strong features of different blockchains while mitigating their weaknesses.