A scalable heterogeneous multi-chain. Allows new designs of blockchains to communicate and pool their security while still allowing them to have entirely arbitrary state-transition functions
Polkadot holders have complete control over the protocol. All privileges, which on other platforms are exclusive to miners, will be given to the relay chain participants (Polkadot token holders), including managing exceptional events such as protocol upgrades and fixes.
Polkadot can be optimized through making the model into which extensions fit as abstract as possible.
The Polkadot token serves 3 distinct purposes: governance over the network, operation, and bonding.
Polkadot is a blockchain on which the funds sent to the Foundation pursuant to the Polkadot Sale and the cryptographic wallet in which funds are stored may be subject to successful attacks, including but not limited to double-spend attacks, majority mining power attacks, "selfish-mining" attacks, and race condition attacks.
DOTs are intended to perform three key functions in Polkadot, namely (i) to facilitate participation by holders of DOTs in protocol governance, (ii) to facilitate participation by holders of DOTs in the relay-chain’s Proof of Stake consensus mechanism and (iii) to serve as a value metric.
Polkadot achieves low-level consensus over a set of mutually agreed valid blocks through a modern asynchronous Byzantine faulttolerant (BFT) algorithm.
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