The multi-chain and interoperable blockchain Polkadot announces the launch of blockchain connection bridges to unite its decentralized ecosystems with other external networks and allow interconnection between different blockchains.
The developers of Polkadot are convinced that the future of blockchains, or block chains, Is the multichain, a complete network that allows several blockchain networks to operate on top of itself to guarantee different functionalities and applications without sacrificing scalability, security and decentralization. Therefore, the network is advertising the launch of new blockchain bridges, which allow the ecosystems created in Polkadot to easily interact with other external blockchains, as well as the interaction and exchange of data from one blockchain network to another.
The idea was born from the need to guarantee a fully functional and decentralized website, called Web3, which is the mission that Polkadot pursues with its parachains. Network developers compare current blockchains as large islands with economies of their own that remain isolated from each other, and are unable to exchange data or value with the outside world.
The blockchain bridges prepared by Polkadot solve this challenge, making it possible for different chains to connect to each other, to transfer arbitrary tokens and data from one network to another, regardless of whether they have different protocols, rules, communities and governance models. As indicated by the network developers, Polkadot blockchain bridges “provide a compatible way to interoperate securely on both sides”.
The innovation surrounding this protocol is driving up the value of its native DOT token, which is currently trading near $36 USD per unit, showing growth of more than 430% so far this year. DOT is the sixth largest asset in the markets, with a capitalization of more than $33.300 billion.
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Interoperability between chains
The idea with which blockchain was born was, and continues to be, completely revolutionary. However, it is a new technology in full development, which is moving towards new potential and valuable use cases.
Polkadot seeks to explore and exploit the potential of blockchain technology beyond typical use cases, allowing users to use different blockchains trustlessly, easily and securely. The company Parity Technologies, responsible for the development of Polkadot and the protocol Substrate, is already working on the development of the first decentralized and trustless bridge that will allow the interconnection of several blockchain networks based on Substrate.
The network developers point out that they have chosen “trustless” bridges with the aim of always guaranteeing the decentralization of processes, and allowing users to operate on different networks without the need to trust central entities or third parties.
Polkadot, which already allows interaction and communication between its different parachains, is offering these same functionalities to connect with external networks, such as Bitcoin o Ethereum, through different bridges; only this time, as the developers indicate, they will do so with trustless bridges that are more preferred within the digital ecosystem.
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