An article detailing a stable blockchain – Polka

When mentioning Poca, people always see words like “heterogeneous cross-chain and interconnection of all chains”, but in fact, these words are a high summary of Poca technology.

An article detailing a stable blockchain - Polka

When mentioning Poca, people always see words like “heterogeneous cross-chain and interconnection of all chains”, but in fact, these words are a high summary of Poca technology.

That is, why is Poca new? Why will Poca be stable?

  1. Why do we need to develop a blockchain from scratch?

Why don’t we “tinker” with the existing blockchain and make this blockchain with advanced technical features to fit the current needs?

For example, why didn’t Vitalik Buterin fork a bitcoin and add smart contracts to this blockchain, instead of developing a new blockchain in 2013, and why didn’t Gavin Wood add heterogeneous multi-chain functionality to ethereum, instead of taking so long to develop polka in 2015?

There are two main reasons.

First, existing blockchain platforms don’t necessarily meet the flexibility and customizability required by applications.

The underlying Bitcoin layer, for example, consists of several modules – storage layer, data layer, network layer, consensus layer, and application layer – but Bitcoin’s customizability is extremely limited, and it is extremely difficult and time-consuming for developers to improve any of these modules to fit current needs, and it is easy to very much invite a hard fork.

As we all know, it took several years after the BCH fork from Bitcoin to have smart contract functionality, at the cost of a serious split in the Bitcoin community, and then two serious hard forks, BSV and BCHA, each of which “broke the bones”, and the BCH community was unable to make up for the cracks no matter how much storytelling they did.

By the same token, although Gavin Wood has been involved in the development and architecture of Ethernet from the second half of 2013 to 2015, and has made great contributions to the development of the protocol of Ethernet 1.0, and also participated in the design of the architecture of ETH 2.0, Ethernet has become a huge ship, and it is very difficult to change the course in a short time.

Whether in terms of technology or internal communication, Gavin was unable to make any impact on the state of Ether at that time.

After the birth of Polka, compared with ETH2.0, Polka has at least four advantages in terms of technical architecture, which are more advanced slice design, more advanced smart contract language, more advanced consensus mechanism, and more advanced governance.

According to the Ethernet technology roadmap, the number of slices will be 64 after the completion of all three phases of ETH2.0, but Poca can achieve infinite expansion.

Taking the smart contract language as another example, an important point of the ETH 2.0 upgrade is the transition from the virtual machine (EVM) to the WASM module, and Poca now has the WASM module to facilitate developers to program smart contracts in a faster and deeper way, and it is already available. In contrast, ETH 2.0 is still several years away from being live.

These are performances that would not have been possible if Gavin had remained in Ether in 2015.

Second, on the original chain, all your actions must be limited by the original chain, i.e., the autonomy issue.

For example, applications you build on a smart contract platform must accept the governance rules of the proto-chain, such as block time, Gas pricing, rollback to change state, etc. These proto-chain properties are mandatory for developers based on this blockchain, just like acting in a country requires you to follow the laws of that country.

However, if developing this blockchain from scratch, Poca, all states are freely defined by the developer. Moreover, with a blockchain developed using the Poca Substrate toolkit, the developer can define various properties of the blockchain, such as the storage layer, data layer, network layer, consensus layer, and application layer, all of which can be substantially modified.

It is hard to imagine developing on the old blockchain protocol if not on the new blockchain, developing new protocols and adding new development tools.

2、Poca is stable, from developers to the underlying technology

The stability here includes the stability of the development team and the stability of the underlying technology.

The reason why developer stability is important is that once the core developers figure out the momentary benefits and seek new blockchain projects from a blockchain project that is not yet stable, this will have a huge negative impact on the project development.

A more extreme case is the developer of EOS, Bytemaster, known as BM in the jianghu.

Regarding BM’s departure, the following paragraph is circulating in the blockchain industry.

BM released BTS in 2013 and declared in 2014 that he “did not announce any new projects and would not leave BTS”; then he released STEEM in 2015 and declared in 2016 that he “did not announce any new projects and would not leave STEEM”; then he released EOS in 2018 and declared in 2018 that he “did not announce any new projects and would not leave EOS”; then he released the new project Voice in 2019.

An article detailing a stable blockchain - Polka

While we didn’t experience the early development of BTS, one can only imagine the shock to the community when a project founder resigns in the early stages of the blockchain! It’s the equivalent of what would have happened before 2009 when Satoshi Nakamoto announced that he was handing over Bitcoin to the community and was going to develop a new project himself.

In the real world, the stability of founders is equally important to the growth of a company.

Take Apple for example, in 1976, 21-year-old Steve Jobs and his friends created Apple in their own garage, then was fired by investors and partners due to the development of the concept, and later the company Jobs founded was acquired by Apple, which took the opportunity to bring Jobs back to the decision-making level, which led to today’s Apple.

Looking back at Gavin Wood, the founder of Poca, from the second half of 2013 when he started to help V God develop ETH 1.0, to 2015 when he designed the ETH 2.0 architecture, and then to the second half of 2015 when he started to develop Poca, Gavin’s work is continuous and supported by a goal, and this ultimate goal is Web 3.0.

To this end, Gavin and polka developers created the “Blockchain Developer Toolkit Substrate” in 2018 to enable developers to build a new blockchain in 10 minutes, and founded the Web3 Foundation in 2017 to fully support the research and development of polka and the Web3.0 ecosystem. . In addition, Parity Technologies also provides great technical support to the developers of the polka ecology worldwide.

All of the above is to show that Polkadot’s founder is a stable, dedicated, and patterned developer, which ensures the stability of Polkadot from the perspective of “people”.

So, why do I have to emphasize this stability again and again?

Because the stability of the underlying public chain is too important to the long-term development of the project.

Before 2019, we often heard slogans like “so-and-so public chain is an ethereum killer”, similar to so-and-so public chain has come up with a new governance concept, and its performance is far better than ETH, and is becoming an ethereum killer.

However, the end result is that many of the underlying blockchain public chains that once shouted similar slogans have disappeared. The fundamental reason is that “no matter how strong your public chain is and how cheap it is”, it ultimately comes down to the level of “application”, i.e. how many projects are willing to blossom on your public chain.

At present, the DeFi projects that we have seen blossoming on ETH, such as MakerDAO/Compound/Uniswap, have actually started to develop on top of Ether as early as 2018, which means that these teams are definitely not looking at the performance of Ether, but the stability of Ether.

Because, blockchain is far from Window and MAC, which cannot yet reach the performance of one-click migration, all blockchain projects, have to face a problem: extremely expensive migration cost.

Therefore, numerous blockchain projects, prefer to spend a high cost to block on Ether, rather than go to EOS, because Ether is stable enough, although also enough congestion.

The question arises, is Polka stable enough? Yes, I think from Gavin, the founder of Polka, to Jutta Steiner, the CEO of Parity, to Robert Habermeier, the Co-Founder of Polkadot, they are all stable, and then to Polka Vision, which is even more solid towards the front, so the Polka ecology attracts many projects and developers.

As of May 18, 2021, polkaproject.com has included 439 polka projects, more than all public chains except ethereum.

According to OKEx quotes, at press time, DOT is now quoted at 40.60 USDT, up 6.76% intra-day.

The choice of developers and the support of users is perhaps the best answer.

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/an-article-detailing-a-stable-blockchain-polka/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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