NVDA Q3 Earnings Alert: Why our AI stock picker is still holding Nvidia stockRead More

Polkadot tech powers Web3, from Indonesia government to gaming giants

Published 10/22/2024, 07:48 PM
pDOTn/USD
-
pDOTn/USD
-

Investing.com - Polkadot is playing a growing role in enabling developers to build decentralized apps (dApps) with ease, Shawn Tabrizi, Lead Developer at Polkadot, stated at Tech Forum Argentina.

Polkadot’s platform allows developers to bypass the hassle of setting up their own bridges and apps, Tabrizi said. Instead, they inherit these features directly from the infrastructure, functioning like a Web3 cloud server.

Polkadot provides native access to data availability systems at no extra cost, simplifying the development process. “It’s an all-in-one solution for building, just like you’d expect from a Web3 server,” he said.

Polkadot’s system is one of the most energy-efficient and resilient in the blockchain space, Tabrizi added. It can produce blocks in just 0.5 seconds and secure up to 150,000 transactions per second (TPS) across 100 cores, rivaling top vertical scaling solutions without sacrificing resilience.

Decentralization remains at the heart of Polkadot’s vision, and community participation continues to grow. Tabrizi shared that over 1,200 proposals have been made this year with a 32 million DOT turnout. Additionally, over 15,000 people completed free introductory courses, while hundreds of students at university level are learning to build Web3 systems through Polkadot’s programs.

Polkadot's ecosystem also hosts projects like Hydration, a DeFi chain controlled by its DAO, and Mythical, a gaming chain that ranked among the top four in NFT sales after switching from Ethereum to Polkadot. According to Tabrizi, the gaming company was attracted by Polkadot’s scalability and performance.

Perhaps one of Polkadot's most interesting projects is its partnership with Mandala to bring Indonesia’s government functions on-chain. “Polkadot is the only infrastructure that can scale to Indonesia’s needs, both today and in the future,” Tabrizi stated, elaborating on this collaboration with the world’s fourth-largest population.

Tabrizi urged developers to get involved, noting that Polkadot offers open access to its tech and community, along with the best performance-to-price ratio for those ready to build in the Web3 space.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.