Polkadot is a multi-chain blockchain platform that fosters interoperability between different blockchains. Created by Ethereum co-founder Gavin Wood, it consists of a central relay chain connected to multiple parachains, each with its own unique design and rules. Key features include cross-chain communication and scalability, enabling data sharing, collaboration, and parallel processing of transactions. Polkadot's innovative consensus mechanism combines proof-of-stake and nominated proof-of-stake systems, promoting network security and decentralization. This platform represents a leap in blockchain technology, providing a framework where diverse blockchains can interact seamlessly.
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