￼Polkadot is a protocol that allows independent blockchains to exchange information. Polkadot is an inter-chain blockchain protocol which unlike internet messaging protocols (eg:-TCP/IP) also enforces the order and the validity of the messages between the chains. This interoperability also allows the additional benefit of scalability by creating a general environment for multiple state machines.
Polkadot allows new designs of blockchains to communicate and pool their security while still allowing them to have entirely arbitrary state-transition functions. This opens the door to a network of blockchains, where private and consortium chains can be firewalled from open and public chains like Ethereum without losing the ability to communicate with them on their own terms.￼￼
• Polkadot is designed to enable applications and smart contracts on one blockchain to seamlessly transact with data and assets on other chains.
• Polkadot gives the ability to run several parachains, each processing multiple transactions in parallel, which allows networks to obtain infinite scalability.
• With Polkadot, security is pooled within the network, which means that individual chains can leverage collective security without having to start from scratch to gain traction and trust.
• Polkadot is built to connect private consortium chains, public permissionless networks, oracles and future technological developments yet to be created in the Web3 ecosystem. It enables an internet where independent blockchains can exchange information and trust- free transactions via the Polkadot relay chain, with the key tenets of scalability, governance and interoperability.
• Working closely with ZCash, OmiseGo, MELONPORT, SORAMITSU, symbiont, OWNAGE, Gridgularity to develop first few use cases.
• ￼Founder of Polkadot is Gavin Wood, co-founder and main developer of Ethereum. He left Ethereum team to develop Parity, a corporate-facing client and wallet. Notable individuals and companies are following this project on Twitter, including Charlie Lee, Bitshares, Omega One, etc.