Blockchain, blockchain ecosystem, Gavin Wood, Polkadot

In a recent Realvision interview, the developer Gavin Wood explains how Polkadot reimagines the innovation ecosystem from the ground up. Wood also discusses how the Polkadot protocol is both similar but also different than Ethereum, the second-largest crypto asset by market valuation.

Polkadot: A Bet Against Maximalism

Innovation involves the pioneering and actualization of a creative new way of doing something. For famed blockchain programmer Gavin Wood, Polkadot is the platform that unlocks the potential of swifter blockchain innovation.

By building a platform of platforms, or 0-layer technology, Polkadot is attempting to push the boundaries of efficiency with a more flexible and more abstract environment.

Here are some highlights from the lengthy interview Wood gave to Sebastian Moonjava of Real Vision (link to the full interview below).

For Wood, one of the primary hurdles of the existing framework is the resource-intensive tasks involved with launching a new blockchain. In this frame, he views Polkadot as multiple forms of shortcuts:

Security is a recurrent theme in blockchain, given that so much power, capital, and resources go towards addressing this basic need. By virtue of its design, Polkadot works to remove this impediment from the development process of new layers and applications.

Securing the ecosystem more efficiently is only one of many value-oriented measures that helps this new model stand out from the crowd. A thorny issue some users are encountering amid the recent rally in cryptocurrency prices is higher transaction costs. Ethereum recently topped $6 per transaction. From Wood’s point of view, the idea of gas ranks among the inefficiencies Polkadot seeks to address.

Another unique area where this concept strays from the mainstream is in the area of consensus. Unlike other methodologies that have occasionally resulted in hard forks, like Ethereum Classic, Polkadot is designed to be forkless,

This sense of experimentation to identify the best option is present in much of the logic underpinning Polkadot, including something as necessary as the rulesets that govern the system.

Unlike Ethereum in the above example, Polkadot doesn’t have the same metered rigidity, which allows it to perform routine calculations and repetitive measures much more affordably. Beyond the greater flexibility, new utilities within the ecosystem will be launched throughout 2021, giving creators and developers a new form of clay to mold future blockchain applications.

Wood’s outlook about the ecosystem’s potential is potently enthusiastic, with his hope of boldly repositioning the blockchain innovation landscape.

You can watch the full interview here

Have you had the opportunity to develop on Polkadot? Tell us about it in the comments section below.

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