One of the most striking forums of this opening day of the Crypto Latin Fest 2023 was focused on the Polkadot blockchain network.
Polkadot is one of the most advanced networks in the cryptocurrency area and it was discussed during this session of the Crypto Latin Fest 2023. After Ethereum, there are numerous Blockchains that offer solutions to real problems in the ecosystem. Among them, the parent network of the DOT token stands out.
The forum dedicated to Polkadot was in charge of Ezio Rojas. As an appetizer, the project representative emphasizes that it is a protocol focused on interoperability within Blockchains.
The main support of the Polkadot network is the Substrate Client, emphasizes Rojas. He adds that the latter is a framework that allows building Blockchains in a similar way to putting Lego pieces together. “Substrate allows you to create a blockchain through different pallets” The latter helps determine the elements to be added to the blockchain being created.
Learning about Polkadot at the Crypto Latin Fest
Polkadot was one of the main protagonists of this first day of the Crypto Latin Fest 2023. Rojas was in charge of offering a clear and detailed vision of that network. As already mentioned, the fundamental part of the ecosystem is that it allows the creation of complete networks from its Substrates.
The expert further explains that the pallets help the creator to add qualities to his blockchain. He comments that all this comes in a ready-made package.
The advantages of this is that it allows “making a blockchain to save costs and that it can be done in a safe, stable and unique way within the ecosystem.” At the beginning of his forum, the expert commented that traditionally there are two ways to make a chain of blocks. The first is through a hard fork, like Litecoin from Bitcoin. However, note that this form inherits many of the limitations of the original string.
The second way is to create it from scratch, which implies having a team of developers and a significant amount of capital to invest. Considering all this, Rojas suggests that Polkadot stand as a third way that comes to solve this dilemma.
The Blockchain Must Evolve Towards an Interoperable System
For Rojas, the nature of Polkadot is focused on interoperability. The specialist affirms that the chain of blocks must evolve from the traditional stage towards one of interoperability. With this, it could become a unique universe of various networks that work harmoniously.
“We believe and understand that the blockchain has to evolve into an interoperable system. It is very difficult to conceptualize that a single blockchain is going to dominate the market. Bitcoin has not, Ethereum has not,” he says. Next, he adds that there are more and more Blockchains that have their spaces within society.
In his opinion, Blockchains are growing and have more space while becoming different from each other. “This variability begins to require us to have interoperable systems, that is, where the Blockchains are not islands, but can communicate with each other,” he commented.
Considering these elements, Rojas confirms that from Polkadot they trust that the future is “multi-chain”. During his words at the Crypto Latin Fest, the expert says that there is no longer a place for monopoly thinking in the world of blockchain. Consequently, those who think that there will be a dominant blockchain, stayed 4 or 5 years behind, he remarked.
By Audy Castaneda
