Parity Says Polkadot Is The Only Protocol Fitting The Revolutionary Bill

By July 21, 2021Polkadot
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Parity says Polkadot is the only blockchain protocol fitting the revolutionary bill according to the head of public affairs Peter Mauric as we can see more in our latest cryptocurrency news today.

Parity Technologies’ head of public affairs Peter Mauric says that Polkadot is the only protocol that fits the bill of a blockchain project providing enhanced scalability, security, utilization, and speed. He outlined that the advantages of this blockchain are strong over Ethereum and spoke about the project’s parachains. Ever since the official launch of the network in 2020 three years after the ICO with the sharded heterogeneous multichain protocol enjoying a substantial increase in terms of adoption.

parachains polkadot

Aside from the DOT price increase in its native token, the blockchain infrastructure became the best space for countless crypto-related projects like stablecoins and DeFi. Mauric described this impressive demand as “people being ready for another revolution and Polkadot is the only protocol which fits the bill.” Being a protocol close to some extent to Ethereum, Mauric spoke about the comparisons between the two but asserted that there are also major differences:

“Everything we have seen since Gavin (Wood) and the team launched Ethereum have been iterations on linear mono-chain smart contract platforms, and Polkadot isn’t that.”

As the face of Parity says Polkadot is the only blockchain protocol that fits the revolutionary bill and it also worked on the Ethereum blockchain is aware of its shortcomings adding:

“it was always a proof of concept of the technology, […] we learned a lot from these experiences, and we have implemented those improvements in Polkadot.”

peter mauric
Peter Mauric, Parity. Image by LinkedIn

As per him, one of the upgrades is a better approach to scalability as Polkadot has representative on-chain stakeholder governance something ETH doesn’t plan to implement. Polkadot developed parachains for roughly a year in light of some of the issues on another network. Parity already outlined plans to create new forms of parachains in order to enhance the deployment of assets, lower the fees and improve the user experience. Mauric described them as the next generation of layer one blockchain protocol explaining that the relay chain is not one it’s a meta protocol that is a layer below the parachain network at layer zero:

“Parachains could be linear monochain smart contracts protocols like Ethereum, Tezos, Solana, or Cardano. They could be UTXO coin transfer chains like Bitcoin or Zcash, or they could be focused on optimizing specific pieces of infrastructure like oracles, prediction markets, or stablecoins.”

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