As the Polkadot project enters the final phase of a strategic rollout thatâ€™s been orchestrated over the last year, prominent stakeholders Moonbeam, Acala and Centrifuge shed a light on the future of the ecosystem and how the blockchainâ€™s infrastructure will deliver its advantages for users.
Soon To Be Parachain Projects Underline Their Perspectives On Polkadot
Ahead of a formal launch of the parachain functionality on the Polkadot network protocol, Zero-Knowledge Podcast host Anna Rose joined several key crypto stakeholders to discuss how this progress will transform the blockchain landscape for developers and users alike. The conversation centered primarily on how three budding projects plan to use these advances and the promise the future holds.
Bringing Parachains To Life
Parachains play a fundamental role in unlocking the complete functionality of the Polkadot network. As the final stage of the overall rollout proceeds, many commentators seek to compare the network with other noteworthy developments. For Fabian Gompf, who serves as Vice President at Parity Technologies, these comparisons miss the mark.
According to Gompf,
He continues by underlining,
Unlike Ethereumâ€™s use of shards for exclusively the same purposes, Polkadotâ€™s shards grant more technical and economic freedoms, enabling each shard to host a unique project. Parachains will effectively materialize this ambition.
From Ethereum Killer To Complementary Party
One of the prominent projects set to benefit from the release of parachains is Moonbeam, a smart contract platform protocol designed by Purestake. This protocol will allow Ethereum dapps to deploy on Moonbeam without rewriting any code or applying any changes.
Yet, despite the frequent comparisons and ability for developers to migrate, the operation seeks to distance itself from the â€œEthereum Killerâ€ moniker by explaining how the ecosystems can effectively complement one another and build value instead of displacing one another.
Per Purestake CEO Derek Yoo,
On Becoming The United Nation Of Blockchains
Acala, a decentralized finance (defi) protocol set to launch on a parachain, views Polkadot as a more malleable blockchain of blockchains thanks to the added flexibility developers gain.
Ruitao Su, Acalaâ€™s Co-Founder, remarks that
This flexibility also supports new connections and opportunities as Su adds,
The United Nations allegory did not go unnoticed by Anna Rose who immediately asked, â€œDo you think there could also be a war between them?â€ To which Su optimistically replied, â€œWell, I think we will see a period of prosperity before we see a war.â€
Revisiting The Privacy Conversation Through Added Flexibility
Although defi is a popular avenue for parachain projects to explore, one company that is shaking up the foundation is Centrifuge, which promotes defi collateralization with real-world assets. For Centrifuge CEO and cofounder Lucas Vogelsang, parachainsâ€™ unparalleled flexibility are picking up the privacy torch where other projects left off.
Vogelsang was not afraid to pour some cold water over the heightened excitement in regards to the launch of the Parachains, presenting a very business-like consideration to whether join, or sit this one out:
Do you see parachains as a defining moment in the evolution of blockchain-related technologies or just a revenue-generating feature for Polkadot? Let us know in the comments section below.
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