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There’s a new player in town when it comes to cryptocurrency app development, and it’s called Polkadot. The crypto platform is proving to be the first choice for developers, attracted by its flexibility and rapidly growing community.
Recent reports have said that Polkadot saw a 44% increase in developer activity for the 12 months ending May, while Bitcoin and Ethereum both experienced modest declines. Blockchain gaming, crypto wallet and security solutions are among the projects that already use the Polkadot platform.
One of the main ways Polkadot differs from other crypto platforms is that it doesn’t run apps via smart contracts, instead allowing developers to build their own blockchains. Polkadot’s decentralized transmission chain allows independent blockchains to exchange information with each other, be it public or private.
Connect the dots
“Polkadot is a network protocol that allows the transfer of arbitrary data, not just tokens, through the blockchain,” explains the Polkadot website. “This means that Polkadot is a true multi-chain application environment where things like cross-chain registers and cross-chain computation are possible. Polkadot can transfer this data on public, open and unauthorized blockchains, as well as on authorized private blockchains. “
Polkadot was created by British programmer Gavin Wood, the co-founder of Ethereum and the man behind some of the core components of the blockchain industry. The new platform has already raised millions of dollars through a combination of public and private funding, while its Dot tokens have risen in value.
Although Polkadot is still trading only a fraction of the value of Ethereum and Bitcoin, its popularity among developers is certainly noteworthy. And as the industry continues to develop, the demand for secure and easy-to-use crypto platforms will only grow.
Through Outlier Ventures
