{"id":117316,"date":"2021-03-17T19:04:27","date_gmt":"2021-03-17T19:04:27","guid":{"rendered":"https:\/\/precoinnews.com\/?p=117316"},"modified":"2021-03-17T19:04:27","modified_gmt":"2021-03-17T19:04:27","slug":"polkadot-dot-to-introduce-bridges-to-connect-blockchain-networks-in-its-ecosystem","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/altcoins\/polkadot-dot-to-introduce-bridges-to-connect-blockchain-networks-in-its-ecosystem\/","title":{"rendered":"Polkadot (DOT) to Introduce Bridges to Connect Blockchain Networks in Its Ecosystem"},"content":{"rendered":"
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The Polkadot (DOT) project sets to <\/b>integrate<\/b> bridges to connect blockchain networks within its ecosystem. Parity Technologies and Web3 foundation are the head developers of the project’s plans.\u00a0<\/b><\/p>\n According to the Polkadot team, the highly anticipated internet generation <\/span>Web 3.0<\/span> will drive the internet to adopt decentralized blockchain technology.\u00a0<\/span><\/p>\n Polkadot will develop bridges to external networks, <\/span>enabling<\/span> cryptocurrency and blockchain die-hards to enjoy a fully decentralized network. The main focus for developing bridges, stated by the Polkadot team, is to enhance blockchain interoperability and diversity.\u00a0<\/span><\/p>\n Coupled with the rollout of Web 3.0, Polkadot plans to <\/span>connect<\/span> blockchains from its network to external ones like Bitcoin and Ethereum. Despite the difference in governance and protocols, bridges will create a common interoperable rule to ensure tokens or information is transferred fast and securely.<\/span><\/p>\n The Web3 Foundation has<\/span> created<\/span> several grant programs that have birthed massive bridges in the Polkadot ecosystem. <\/span><\/p>\n The <\/span>programs<\/span> include Interlay and (PolkaBTC), ChainX (BTC to Substrate bridge), Snowfork (Ethereum and Polkadot), Darwinia, and Chainbridge (Non-fungible token transfers), Bifrost (EOS network bridge). The programs will improve decentralized technology internet services and connect blockchain networks since Polkadot’s modus operandi is to create a multi-chain world.\u00a0<\/span><\/p>\n The Web3 Foundation launched the genesis block of Polkadot in mid-2020 as a Proof-of-Authority(PoA) mode. The PoA network enables blockchain users to acquire tokens from their own Ethereum contracts, stake them and determine whether they will become validators or nominators.\u00a0<\/span><\/p>\n Validators can create their session<\/span> staking keys<\/span> and acquire Nominated Proof-of Stake rights. Late last year, the Web3 foundation <\/span>announced<\/span> that enough validators had accumulated to trigger Polkadot’s network transition to the Nominated PoS phase, which will enhance decentralization and increase the number of active validators.<\/span><\/p>\n Polkadot plans to introduce bridge modules and contracts that will create parachains that will serve as adaptors to external blockchain networks. The modules will entail non-parachain blockchains that can either be integrated as an extension to the Polkadot technology software or a community-controlled parachain. The<\/span> bridge modules<\/span> will work as ‘virtual parachain networks’ that will tune the external blockchain’s operations to the Polkadot network’s benefits.<\/span><\/p>\n According to Polkadot’s team, the substrate-chain building framework will enable developers to create blockchains with its security and consensus. Parity Technologies are developing an inter-connected bridge that will join several substrate-based chains together. The bridge will entail a two-way communication network between <\/span>independent<\/span> Substrate-based chains and a Polkadot parachain. Additionally, the bridge will facilitate users’ interactions within the Polkadot network with those within the Kusama network.<\/span><\/p>\n<\/span>Achieving Decentralization and Interoperability<\/b><\/span><\/h2>\n
<\/span>Polkadot’s Proof-of-Authority Network<\/b><\/span><\/h2>\n
<\/span>Bridges and Substrate-based Chains<\/b><\/span><\/h2>\n
<\/span>Related posts:<\/span><\/h3>\n