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Polkadot is a blockchain protocol connecting multiple specialized blockchains into one unified network. Polkadot is built to connect and secure unique blockchains, whether they be public, permission-less networks, private consortium chains, or oracles and other Web3 technologies. It enables an internet where independent blockchains can exchange information under common security guarantees. The network has an advanced suite of governance tools and, using the WebAssembly standard as a "meta-protocol", can autonomously deploy network upgrades. https://wiki.polkadot.network/docs/en/getting-started

The sudden growth of DeFi on Ethereum has pushed the blockchain to its limits, leading to transaction delays and inordinately high fees - making many Ethereum DeFi platforms simply unusable to regular users. As a result, many developers are opting to build their DeFi applications on other Platforms such as Polkadot. Polkadot is highly interoperable other blockchains (including Ethereum). Also, Polkadot has a block time of just six seconds and most transactions are considered final after less than a minute, and it can currently handle more than 1,000 transactions per second (tps).

Polkadot is entering the fourth and final phase of its mainnet launch, which involves deploying parachains to the Kusama network. Polkadot is a platform that allows different blockchains to transfer value in a trustless fashion and share their unique features while using one secure channel. It was developed as an alternative to Ethereum's 2.0 network upgrade currently under development.

The price of Ether (ETH) is up 266% this year - twice as much as that of bitcoin (BTC). But a lot of digital-asset investors are hedging their bets, buying tokens associated with upstart blockchains that could potentially grab market share from the Ethereum network, often referred to as a "world computer" due to its versatility and programmability. One such token is dot (DOT), of the Polkadot blockchain, whose co-founder Gavin Wood was a co-founder of Ethereum. At the heart of Polkadot is the concept of "parachains," which are blockchains that can run higher transaction throughput than Ethereum.

And while Bitcoin has plunged by 15% on a seven-day period, dragging most of the cryptocurrency market along with it, some altcoins have survived the drop and massive price correction: Chainlink (LINK), Uniswap (UNI), and Polkadot (DOT) have recorded gains of 11%, 21%, and 20% over the same seven-day period.

Grayscale has incorporated six more trusts, tied to Polkadot (DOT), Aave (AAVE), Monero (XMR), Cardano (ADA), Cosmos (ATOM), and EOS.IO (EOS). All the six trusts were formed Wednesday by Delaware Trust Company, Grayscale's "statutory trustee." The new trust formations come a week after Grayscale incorporated [six more trusts, including those tied to Chainlink (LINK) and Tezos (XTZ) tokens]. However, trust formations do not mean the firm will launch these products.

Coinbase Pro has begun accepting inbound transfers of DOT, and trading will begin on or after 9am Pacific Time (PT) Wednesday June 16, if liquidity conditions are met.

"For now, it appears unlikely Ethereum will be dethroned in the short-term. Ethereum has a very firm and clear first-mover advantage over its competitors. It not only has the highest dominance in terms of the network value but also outdoes the competition in several key factors. In a nutshell, these factors are-the number of active users; the ERC-20 (Ethereum) token being the most adopted standard for newly issued crypto-assets; third party adoption for service and infrastructure; and overall network security."

"This article compares some of the main features of the Internet Computer with the following layer one blockchains: Ethereum, Cardano, Solana, Binance Smart Chain, Zilliqa, Algorand, and Avalanche. Although Polkadot is a 0-layer blockchain, known as a multi-chain protocol with heterogeneous sharding, "

"cLabs (a company in the Celo ecosystem) acquired Summa, bringing on a talented team of leaders in cross-chain interoperability. This acquisition began the construction of a gas-efficient interoperability standard for cross-chain communication named Optics. The project is focused on enabling seamless interoperability between layer-one blockchains. This work is part of a broader set of projects, including Cosmos and Polkadot, that focus on developing a future vision for a connected world of blockchains."

As CBDCs emerge as a major disruptor to existing infrastructure, interoperability remains one of the most significant roadblocks to their functionality. Although most financial institutions remained wary of digital currencies, payment players like Visa, Mastercard and PayPal have not only accepted the concept of cryptocurrencies and CBDCs but are constantly innovating on both fronts. The future could see them carving out a new niche for themselves - as the interoperability layer for the upcoming CBDC world.

Ethereum studio ConsenSys will reportedly integrate Quorum into the China state-sanctioned Blockchain Service Network (BSN). The BSN is a service infrastructure that allows developers to build decentralized applications on top of blockchains that it supports, like Hyperledger Fabric, Ethereum, and Polkadot. It is backed by the State Information Center of China, a think tank under the country's cabinet-level economic planning agency, the National Development and Reform Commission. Beijing-based Red Date Technology oversees the operations and development of the platform.

China's Blockchain-based Service Network (BSN) - a public-private nationwide infrastructure project to spur mass adoption of blockchain technology - is setting up international portals in Turkey and Uzbekistan, following its September announcements to set up BSN portals in Hong Kong and South Korea. The BSN integrates frameworks such as Ethereum, Algorand, EOS, Polkadot, NEO, Tezos, Oasis, Hyperledger Fabric, ConsenSys Quorum, and Corda. It is also supported by cloud services, including Amazon Web Services, Google, and Microsoft Azure.

Banks and other financial institutions are already showing signs of readiness for blockchain adoption, but they almost certainly won't use Ethereum. More likely is that they'll adopt customized solutions. An omni-chain platform that can interact with a wide variety of enterprise networks is, therefore, a must-have in preparing for the point when there's a demand for trading traditional financial instruments with decentralized digital assets.