We know LINK is partnered with Polkadot/Web 3, so we should try to understand it more. We know it an interoperability chain that transfers value and data across chains.
medium.com
youtube.com
Anybody got some thoughts on Polkadot? Will it be the best Interoperability chain?
Serious thread btw
biz is full of retards...this could be a good discussion but take it to the discord
shit, that guy looks pure reddit nu-male
bearish af, sell now everyone
Parity produces junk code. Pretty bearish on anything gavin touches
some discord faggots have already decided to start FUDDING polkadot ALREADY probably a punch of poorfags... actually most certainly a bunch of poorfags, the kind of discord faggs that ruin this board,
anyway polkadot is going to be BASED af a true interoperability chain WITH staking... awesome
Got any red pills on it?
Mainnet in 1 Year kek
all out mate sorry, I do have a shitton of DOTs though :)
gas the street shitters!
pajeet war now!
>Polkadot
won't be ready until 2020. what's the point of a serious discussion when this is literally a decade away in crypto years?
Because it looks like it's going to be huge. Biz always stays way ahead of the game.
Yes I did get the pun. What kind of dots you got? I'm trying to understand it on a deeper level but might need some smart user to help
well the DOT token is the native token and will be used as collateral/to incentivise good behaviour on the Polkadot Network. Polkadot exists to connect blockchains together, one can assume that when blockchain takes off there will be massive traffic between blockchains and whichever network handles all this traffic will obviously be worth a metric fuckton
basically polkadot will allow you to pay with bitcoin in an ethereum smart contract, and vice versa, or you could use LINK data to trigger a payment on the stellar network ect ect...
Polkadot is an attractive investment because 1. it expands the capacity of blockchains on a fundamental level ie interoperability 2. if it is successful it will have alot of traffic 3. Polkadot will have staking, so you can use it as a passive income stream
I think 2019-20 will be all about interoperability and smart contracts, which 2 coins will provide this? Polkadot and Link... If Polkadot becomes the interoperability standard, then it will have an astounding amount of traffic which makes the network extremely valuable for stakers... its a no brainer
If Polkadot is successful, what would it mean for other interoperability projects like AION, WAN, & ICX?
That's a good question. I'm sure a few could succeed and serve different markets. I think it would spell doom for some smart contract platforms.
I doubt those projects are truly trustless and interoperable
Really appreciate the data dump, seriously. Would polkadot eat into ETH? Sounds like ETH though would still be like the digital registry for assets like the storage layer and have the smart contract functionality.
Sounds like LINK is going to play a major role in their interoperability yeah? Since they would need api data from each other to trigger transactions on each others network as well as get data back and forth? I'm still confused why you would need polkadot when Link can do some of these interoperability functions?
What do you think would happen to AION, WAN, & ICX?
Also curious about this, especially given that Wanchain recently announced a partnership w/ Chainlink. I imagined they would be building their own bridging technology, but it looks like even one of the big interop advocates is just gonna be using CL under the hood?
They are all part of the same alliance. One is partnered w CL, one has expressed interest publicly, the remaining one would enhance smartcontract functionality across multiple chains. Are we certain Polkadot isnt their final form or a white label offering of these platforms plus link?
Looks like chainlink will have all 3 plus polkadot. Maybe if it is in the protocol stack of polkadot then you're right all three of those will whitelabel polkadot
polkadot and any other "connector" blockchains will never see any adoption. nobody is going to need or want to use a middleman blockchain when network effects dictate that only a handful of blockchains will ever see reach large enough to matter, and all of them will be supermajorities in their niche, or they will be private and not relevant for such connector projects.
Wrong on so many levels
>what about all my gook shit.
spoken like a true late adopter. interoperability like this has a solid precedent of not being able to capture any value in the real world, when markets collapse down to supermajority or
I agree with you that major platforms will likely collapse down to a few, but i think having one or two connecting chains will be crucial. Those 3-5 platforms will have to interact seamlessly
We used to laugh at the idea of the blockchain as one generaI platform. Such vernacular used to invite ridicule and imply naivety. I now see it as the only future for the technology. How many people can tell you the difference between the internet and world wide web even today?
>Biz always stays way ahead of the game
Top kek
Why is WAN dumping so hard? It’s a solid project. I was going to get a bag but the dump is giving me second thoughts.
Those 3 are literal garbage. There are only 3 legitimate interoperability projects so far :Polkadot/Cosmos/Block collider with Polkadot being the most ambitious one and most likely to fail because of it.
What do you think of Quant for Interoperability?
No worries, I've being interested in the direction the blockchain space is going and interoperability is the next logical step...
I'd say no, Polkadot wouldnt eat into Ethereum as far as I know, because polkadot will be used to handle inter-blockchain communication where as ethereum handles traffic on its own blockchain. Polkadot will compliment Ethereum by allowing it to communicate to other blockchains.
Correct as Link is a critical for all blockchains as a data supplier, basically it would go down like this, say you have a smart contract on ethereum triggered by Link data but you want to get paid in Monero.
First the contract requirements are met on ethereum with link, then polkadot would tell monero to send x coins to x wallet.
Those other "interoperability" platforms are in my opinion needless competition to ethereum, or places where permissioned chains can interact, I think this is what they mean by interoperability? if someone could clarify thatd be great... anyway, polkadot will allows truly trustless interaction on a granular level as is my understanding
thats interoperability, but not truly trustless interoperability
this is me I just got on the home wifi ill post about polka using this trip code and share my understandings with my fellow Jow Forumsness anons
>Got any red pills on it?
read the first article
it's a red pill in itself
this.
I agree, those 3-5 units will be BTC, ETH, LINK, DOT and possible ATOM which is Cosmos's cross blockchain interaction platform...
Think of BTC and ETH as "trees" in the blockchain forest, where as LINK is the soil and the organic matter and DOT and ATOM are like the Mycellium that allows for nutrients transfer and communication
From what I understand Polkadot is about inter-blockchain communication, where as Cosmos is more about inter blockchain value transfer... I think...
>thats interoperability, but not truly trustless interoperability
What are some use cases where trustless interoperability is not needed and how does the interaction differ? I was of the understanding that interoperability between two immutable & decentralized parties were inherently at least nearly trustless (I should say requires minimal trust); trying to understand further.
I see. That makes sense. I always thought that if an ETH smart contract wanted to trigger a payment on the Monero blockchain then someone would access a LINK adapter built for Monero which it could feed this data into Monero for sending x coins to x wallet. Doesn't Polkadot still need LINK? Didn't they partner with Web3 which is kind of like polkadot?
Could you maybe elaborate on the 3 public interop chain not being trustless compared to Polkadot?
we transact without trustless interaction everyday via institutions, its not so that its not needed but more that its more efficient... trustless interaction allows for less work to be done by both parties, ie, you don't have to verify their trust worthiness like banks do via identity, and its better than "trusting" someone will send your ebay package after you have paid them, now we can trustlessly interact via ethereum instead.
when the interactions are done normally between blockchains we are back to the problem of trusting another party to behave, ie send the ebay package, but when you entrust a blockchain to handle the data you dont have to trust the other party, blockchain is basically an elaborate trustless escrow service... which you can trust ;)
Polkadot needs LINK for real world data, then polkadot can talk to other blockchains to get to to do stuff in response from the LINK data
I get the analogy but anyway you could dig down into the specifics more on how it does this and differs from the trusted methods. Seems like it's POS vs DPOS?
How is voting for referendums and stuff handled? That is, how are decisions actually proposed, voted on, and how are incentives put in place to ensure... fair play?
>unironically comparing those shitcoins to Polkadot
>b-b-b-b-but muh Interoperability Alliance
You realize Polkadot and Cosmos are the two real contenders in that race, right?
Quant is also a meme. I appreciate that user for giving me the tip on Block Collider though gotta do some digging on that
I'm not technically minded I just understand the interesting meta implications of trustless networks
How do I join this discord
Not really caught up with an alliance. I can start a 'suck my dick' alliance right now. I'm asking because these platforms appear to have been first to market but are yet to see full adoption. If anything, it seems these platforms can create their own Parachains if they wish. They aren't competitors in that case and I'm not sure why you think they are.
All three of them are scams that will never accomplish anything.
lmao just wait, you have no idea
genuinely different niche than Polkadot, you'll be surprised by how well both will do long term if Parity code doesn't shit itself a third time
It works by function specific staking, you stake to perform certain tasks on the network (fishermen, relay chains, validators, nominators.) Not exactly DPoS.
I have 50 dots from last year
Am I going to make it Jow Forums?
>polkadot = parity = gavin wood
>raise 8 figures worth of ETH in ICO
>couldn't code multisig wallet right - hacked in july 2017
>does no audit despite hack - hacked again in late 2017
>most polkadot funds locked in second hack
>refuses to take any responsibility
>lobbies ethereum community for bailout for a year, astroturfing hard with actual paid shills
>bunch of san francisco faggots who want your money and nothing but your money
but hey, this is basically what stinkies already like as an investment, so go ahead and throw your money at them
surely this post is just "FUD" so user can "accumulate"
Whats the discord
If you’re still around, please share. Curious about polkadot
Delet
No, you’re right about some of the skepticism around parity and the hack and those involved. If polkadot does however offer a trustless way for blockchains to talk to each other and if link can’t do that then it does show potential and is probably not a money grab by Gavin despite some of those earlier concerns. Polkadot sounds promising but obviously the next 12 months will show what they’re up to giving us the chance to evaluate and vet to decide what the value proposition actually is.
The Web3 Foundation will commission Parity Technologies to build the Polkadot network. The Genesis block launch of Polkadot is anticipated to happen in Q3 2019.