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114 lines
6.6 KiB
Markdown
114 lines
6.6 KiB
Markdown
# The Polkadot Playbook
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The minimum set of information you need to be able to explain Polkadot to others.
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## What is Polkadot?
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- Polkadot is a scaling solution for Web3[^1] applications and services.
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- Polkadot scales through data and execution sharding, allowing for parallelized throughput.[^2]
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- Polkadot provides shared security and secure interoperability to services build on it.[^3]
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- Polkadot creates abundant, flexible, and high quality blockspace.[^4]
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- Polkadot uses a novel "cynical" rollup to provide fast finality while using minimal resources.[^5]
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## What unique things can you do on Polkadot?
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- Build applications which execute automatically (without initial user input).
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- Build applications with full control over block construction and transaction execution.[^20]
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- Build applications which dynamically scale up and down execution cores.
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- Build applications which execute at sub-second speeds.[^21]
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- Build applications that can permissionlessly upgrade and evolve over time.[^22]
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## Why choose Polkadot?
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- Billions of dollars of economic security provided to itself and applications running on it.
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- Fast finalization times, on average under 30 seconds.[^31]
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- Executing and scaling on standard "gaming" hardware.[^32]
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- Polkadot SDK is the most robust and flexible blockchain framework.[^34]
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- Secure cross-chain interoperability through trustless bridging protocols.[^35]
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## Where is Polkadot leading?
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- 50+ active rollups live on Polkadot.[^40]
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- Among the highest Nakamoto coefficients in the blockchain ecosystem.[^41]
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- 2nd largest developer community after Ethereum.[^42]
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- Blazing fast execution speeds compared to other blockchain VMs.[^43]
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- One of the largest functioning DAOs, managing the functionality of the network and tens of millions of dollars in assets for development.[^44]
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## Polkadot Comparisons
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- Ethereum: Polkadot realized Ethereum's scaling vision first, conceived and delivered by co-founder Dr. Gavin Wood.[^51]
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- Solana: Unlike Solana, Polkadot scales without compromising Web3 principles of decentralization and security.[^52]
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- Cosmos: Unlike Cosmos, Polkadot provides shared security and secure interoperability.[^53]
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- Avalanche: Subnets in Avalanche are not as flexible as applications on Polkadot, and subnets do not provide shared security or secure interoperability.[^54]
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- Layer 2s: Layer 2 solutions face performance issues, unpredictable fees, and fragmented interoperability due to non-native support for rollups.[^55]
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[^1]: Learn more about Web3:
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- The first time the term "Web3" was used: https://gavwood.com/dappsweb3.html
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- A blog post describing the importance of Web3: https://gavofyork.medium.com/why-we-need-web-3-0-5da4f2bf95ab
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[^2]: Explanation of sharding on Polkadot: https://polkadot.com/blog/polkadot-v1-0-sharding-and-economic-security
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[^3]: A high level overview of shared security: https://www.youtube.com/watch?v=uKQOSPfM-W0
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[^4]: A blog post explaining the term "blockspace": https://www.rob.tech/blog/polkadot-blockspace-over-blockchains/
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[^5]:
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- The ELVES paper, formally describing Polkadot's cynical rollup: https://eprint.iacr.org/2024/961
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- A tweet summary of the ELVES paper: https://x.com/rphmeier/status/1807884271157187007
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[^20]: For example:
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- Build applications where end-users pay no transaction fees.
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- Build applications more resilient to MEV.
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- Build applications which can prioritize tasks and processes.
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[^21]: A demo of a Polkadot SDK blockchain producing blocks every .5 seconds: https://twitter.com/bkchr/status/1818027282688352591
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[^22]: Learn about forkless runtime upgrades in Polkadot: https://wiki.polkadot.network/docs/learn-runtime-upgrades
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[^31]: Learn more about cynical rollups:
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- Compare that to optimistic rollups which may take up to a week to finalize!
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- Cynical rollups actively check that a block is valid, rather than waiting for someone to report it is invalid. See ELVES paper footnote above.
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- Compared to "instant finality" consensus, block production is separated from finality, reducing network stalls: https://polkadot.com/blog/polkadot-consensus-part-1-introduction
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[^32]: Compared to expensive and centralized machines needed for vertical scaling or ZK provers.
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- Hardware requirements for running a Polkadot Validator: https://wiki.polkadot.network/docs/maintain-guides-how-to-validate-polkadot#requirements
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[^34]: Polkadot SDK is used throughout the entire blockchain ecosystem:
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- Polkadot and Kusama are built with the Polkadot SDK.
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- All 50+ live parachains, and many more in development, all use Polkadot SDK.
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- Many projects outside of Polkadot also use the Polkadot SDK: [Avail](https://www.availproject.org/), [Cardano](https://midnight.network/), [Entropy](https://entropy.xyz/), and more...
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[^35]: Bridging in Polkadot can be broken down into internal bridges and external bridges:
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- Native bridging protocol for applications secured by Polkadot: https://wiki.polkadot.network/docs/learn-xcm-transport
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- An overview of external bridges on Polkadot: https://polkadot.com/blog/the-landscape-of-trustless-bridges-on-polkadot
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[^40]: A list of active parachains on Polkadot: https://polkadot.subscan.io/parachain
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[^41]: The Nakamoto Coefficient is one measure of decentralization and resilience.
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- A third party service comparing the Nakamoto Coefficient: https://nakaflow.io/
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[^42]: Graph of blockchain developer ecosystems: https://twitter.com/Polkadot/status/1577016988697706496
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- The raw data is being generated using this open source repo: https://github.com/electric-capital/crypto-ecosystems
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[^43]: PVM and other VM benchmarks: https://github.com/koute/polkavm/blob/master/BENCHMARKS.md
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[^44]: Information about the Polkadot DAO: https://polkadot.com/platform/dao
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- Polkadot Treasury Account: https://polkadot.subscan.io/account/13UVJyLnbVp9RBZYFwFGyDvVd1y27Tt8tkntv6Q7JVPhFsTB
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[^51]: Polkadot comparison document to Ethereum:
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- https://wiki.polkadot.network/docs/learn-comparisons-ethereum-2
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[^52]: Solana is better described as a distributed database, than a Web3 product.
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- Information about the scalability trilemma: https://ethereum.org/en/roadmap/vision/
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- Solana scales vertically while Polkadot scales horizontally.
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- Since January 2022, Solana has seen around half a dozen significant outages and 15 partial or major outage days: https://cointelegraph.com/news/solana-outage-client-diversity-beta
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[^53]: Polkadot comparison document to Cosmos:
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- https://wiki.polkadot.network/docs/learn-comparisons-cosmos
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[^54]: Polkadot comparison document to Avalanche:
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- https://wiki.polkadot.network/docs/learn-comparisons-avalanche
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[^55]: Polkadot comparison document to Layer 2s and Rollups:
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- https://wiki.polkadot.network/docs/learn-comparisons-rollups
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