Scalability shouldn’t be overdone, but rather undermine decentralization, says founder Polkadot
In speech At the Wanxiang Blockchain Global Summit in Shanghai, Polkadot (DOT) founder Gavin Wood highlighted four key benefits of the Parachain platform as he predicts that Dapps will face increasing legal pressure in the future.
The network’s heterogeneous multi-chain architecture is already bearing fruit, with Polkadot’s first parachain position auctions slated to begin in November while Wood ponders other upcoming milestones in the systems environmental context.
The Polkadot founder noted that a relay chain bridge between two value networks, Polkadot and Kusama, is expected to be operational before the end of the year, while the bridge between the forks below is expected to be implemented in the first months of 2022.
Peer-to-peer, expandable and unlimited
Wood explained how the platform ecosystem enables developers to update their applications and chains over time with minimal effort.
Metaprotocol is “a protocol that is really a business logic blockchain developed on top of a different protocol that controls very basic levels of consensus,” he explained, adding that it is the only solution that enables a blockchain upgrade without a fork .
After the upgrade, Wood covered how the background parachain free execution model gives developers technical freedom when building apps.
It allows developers to break away from the platform’s mechanisms to define and restrict user access, often by asking users to issue tokens in order to use the app.
Thanks to this technical freedom, developers can determine whether users can use the app, how often and when.
This can be determined by mechanisms other than tokens such as wishes, certificates, on-chain methods, off-chain identifiers, etc. Wood goes on to explain how the model enables developers to design a solution that will help users pay for the platform.
Looking forward to something
Wood concluded his presentation with a reflection on current “driving factors” in the industry.
“Some teams really didn’t understand that decentralization and security are not optional features here. We can’t reduce that, ”said Wood, thinking about how to aim for scalability and high transaction throughput.
He believes Dapps “may not be viable in the long run” as regulatory pressures continue to mount, and predicts factors of network centralization, such as the background, are all likely to be targeted by regulators.
Once regulation is in place, multisig wallets, hosted wallets and peer-to-peer stablecoins will have “more trouble” in the future.
In order to achieve a higher degree of decentralization from the ground up, some aspects of Polkadot’s leadership would also need alternatives, stressed Wood.
“The Polkadot Council, a multisig, needs to be renewed, as well as the light clients to avoid the RPC servers. There will also be other technologies that allow nodes running in the network to have a certain degree of privacy from one another despite their decentralization in order to ensure maximum security. A certain series of tests will be carried out over the next 12 months. “
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