Plutos Network
Do you Know ?
Why Plutos network is on Polkadot?
First, things to know about Polkadot.
What is Polkadot Ecosystem?
Polkadot has been a rising start in the blockchain industry during its short tenure. And it’s not hard to see why the network has gained so much attention: Founded from key members of Etherium, Polkadot was designed to overcome the congestion and high gas fees, and innovates blockchain in a way that lowers both cost and technical barriers to entry. With the recent announcement of the first parachain slot auctions, it is a good opportunity to review the Polkadot ecosystem and take a look at several examples of projects fully utilizing Polkadot’s value proposition.
- What is Polkadot?
Before we dive in to see these examples, let’s review what Polkadot is and why it’s different from the thousands of other blockchains operating today. Simply put, Polkadot is a multi-chain network that acts as a relay between blockchain projects. It connects to these different networks and uses its ultra-efficient architecture to ensure security and fast transactions (clocked at up to 1,000 per second). Networks can attach to Polkadot by bidding for and winning “slot auctions.” Here they bid DOT, the Polkadot currency, which is held as a staked bond for as long as the chain is connected. These connected chains are called “parachains”, as they run in parallel with the Polkadot relay chain.
Why would another blockchain project want to connect with Polkadot? There are a number of reasons, but the biggest is due to specialization. By connecting to Polkadot, individual projects can take advantage of excellent security and transaction speeds. They will also have easy connections to other projects on Polkadot, and bridges to external networks such as Bitcoin and Ethereum. By doing this, project teams can focus more on the exact functionality they want out of their product, benefit from a more efficient process (both during and after development), enjoy greater security than most teams could develop on their own, and even develop their project faster through the use of Polkadot’s modular building framework called Substrate.
- Below is the banner are reasons why Plutos network is on Polkadot Mainnet
- About Plutos Network?
Plutos Network is a decentralized cross-chain derivative issuance and trading platform which provides infinite liquidity based on the schemes of Staking and Minting and leading Blockchains like Solana, Polkadot and BSC. With Plutos, all users can have access to synthetic assets from both traditional financial market and the crypto market. By enabling cross-chain and on-chain functionalities, Plutos will be able to deliver keynote features such as scalability, high interoperability, low cost of transactions, offering the perfect solution for current DeFi derivative market to difficulties and limitations such as high gas fee, low transaction speed, vulnerability of hacking such as flash loan etc.
John Joseph
official@plutos.network
