By Alex Siman, founder of Subsocial – a Polkadot-based decentralized social network platform
The imminent Ethereum London upgrade – as well as the launch of Polkadot and Kusama’s parachains – has done much to keep crypto spirits as markets remain bleak. Parachain candidates are drumming up support to win their auctions. In doing so, they offer glimpses of an alternative to the weaknesses of the current centralized internet infrastructure which was so ruthlessly exposed by the massive recent Fastly internet outage.
Yet, due to the highly technical nature of these ambitious blockchain platforms, most casual digital asset investors likely still don’t understand a few core tenets of this nascent technology.
Supporter factions of Ethereum and Polkadot are increasingly at odds. Some wonder if we should expect a battle between those, while others ponder on the threat the parachain technology poses to Ethereum’s supremacy.
How will Substrate 3.0’s parachains improve on Web 2.0 and deliver Web 3.0?
Substrate 3.0 and the parachain technology it unlocks will open up new horizons in terms of the technical capabilities of decentralized technology.
Parachains are highly customizable and therefore allow us to solve specific tasks and create niche, high-performance decentralized products which can exchange various means of value with one another. This means it can …