As the Polkadot project entered the final stage of the strategic deployment carefully planned last year, well-known stakeholders Moonbeam, Acala, and Centrifuge shed light on the future of the ecosystem and how the blockchain infrastructure can provide users with its advantages.
The upcoming Parachain project emphasizes their views on Polkadot
Before the official release of the parallel chain function on the Polkadot network protocol, the zero-knowledge podcast host Anna Rose and several major cryptocurrency stakeholders discussed how this development will change the blockchain landscape for developers and users. The conversation focused on how the three budding projects plan to take advantage of these advances and their commitment to the future.
Bring parallel chains to life
Parachains play a fundamental role in unlocking the full functionality of the Polkadot network. As the final phase of the overall deployment progressed, many commentators tried to compare the network with other notable developments. For Fabian Gompf, vice president of Parity Technologies, these comparisons did not meet their goals.
According to Gompf,
Eth2 has just started, these are the fragments, that is the function, please deploy on top of them. There is one more thing about Polkadot: this is the metadata infrastructure, you can actually start deploying these shards now, and there are also financial benefits in the way they are distributed.
He continued to emphasize,
In the end, Polkadot is still a fragmented blockchain protocol. However, compared with Ethereum 2, the main difference is that not every shard is a problem of the execution environment, and every shard looks exactly the same, and these shards can look very different.
Unlike Ethereum, which uses shards only for the same purpose, Polkadot’s shards give more technical and economic freedom, allowing each shard to host a unique project. Parachain will effectively realize this ambition.
Parachains are like switching from this basic thing to an actual open developer platform… Then, we can actually deploy things using all the tools we have been building for the past year or two.
From Ethereum killer to complementary party
One of the well-known projects that can benefit from the release of parachains is Moonbeam, which is a smart contract platform protocol designed by Purestake. The agreement will allow Ethereum dapps to be deployed on Moonbeam without having to rewrite any code or apply any changes.
However, despite frequent comparisons and ability transfers between developers, the operation managed to distance itself from the name “Ethereum Killer” by explaining how ecosystems can effectively complement each other and create value instead of replacing each other.
Derek Yoo, CEO of Per Purestake,
They will have more [developers Purestake works with] Maintain their Ethereum deployment and provide services to users and use cases that provide services there, but then they are expanding and reaching out to these other users and use cases and assets on Polkadot. Therefore, it is additive, and they plan to have multiple deployments at the same time.
About becoming a blockchain united nations
The decentralized finance (defi) protocol Acala, which is about to be launched on the parachain, sees Polkadot as the more malleable blockchain in the blockchain, thanks to the greater flexibility that developers have gained.
Su Ruitao, co-founder of Acala, said
When we build things on a decentralized parachain network, we are studying the possibilities and capabilities that the base layer can provide. If you look at Bitcoin, there is almost nothing that can be programmed… and if we look at Polkadot, it actually provides developers with new possibilities to design the blockchain in a completely customized way.
Su added that this flexibility also supports new connections and opportunities,
Polkadot is actually like the United Nations, and we are like sovereign nations living on Polkadot… A country may express diplomatic relations with another country from a smart contract point of view-this is a dream I cannot stop.
The UN’s allegations did not attract the attention of Anna Rose, who immediately asked: “Do you think there will be a war between them?” Su optimistically replied, “Well, I think I’m seeing war. Before, we would go through a period of prosperity.”
Revisit private conversations by increasing flexibility
Although defi is a popular way to explore parachain projects, one company of the Centrifugal Foundation is Centrifuge, which uses actual assets to promote defi mortgages. For Lucas Vogelsang, CEO and co-founder of Centrifuge, parachains’ unparalleled flexibility is provoking privacy that other projects cannot implement.
One thing we really like about Substrate and Polkadot is that it gives you crazy flexibility… One of the things we want to use in runtime is cryptographic primitives, which are much better than what Ethereum has, Much more updated. Therefore, in order for our asset promoters to have more privacy rights when borrowing money, they have initiated these assets to some extent.
Vogelsang is not afraid to pour some cold water into the process of being excited when launching Parachains, and put forward very commercial considerations on whether to join or withdraw:
Maybe we won’t be eager to bid for the first slot machine, but look at how much hype this market currently has, which means the DOT market and all ongoing parachain loan products and projects. We will ensure that we will not overpay for this. Because I think the first few slots treat them more as marketing expenses than actually paying for your security.
Do you see parachain as a decisive moment in the development of blockchain-related technology, or is it just a revenue-generating function of Polkadot? Let us know in the comments section below.
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