In order to enable cross-chain transfers of any data or asset kinds, not only tokens, Polkadot is an open-source sharded multichain protocol that links and secures a network of specialized blockchains. This enables blockchains to communicate with one another and cooperate. Polkadot was created to serve as the framework for Web3, often known as a decentralized internet of blockchains.
Chainlink, a blockchain abstraction layer that was established in 2017, enables globally interconnected smart contracts. Chainlink, a decentralized oracle network, enables blockchains to communicate securely with external data feeds, events, and payment methods while delivering the essential off-chain data required by sophisticated smart contracts, which are quickly taking over as the primary type of digital agreement.
A sizable open-source community of data producers, node operators, smart contract developers, researchers, security auditors, and others powers the Chainlink Network. The firm is committed to ensuring that all node operators and users who want to contribute to the network are assured of decentralized involvement.
Compound is a Defi lending system that enables users to deposit their cryptocurrencies into one of the platform’s supported pools in exchange for interest on their holdings.
Introducing as “Polkadot’s wild cousin,” An experimental blockchain platform called Kusama is intended to give developers a highly interoperable and scalable foundation. The foundation of Kusama is Substrate, a blockchain construction kit created by Parity Technologies. One of the most popular interoperable blockchains, Polkadot, shares practically all of its code with Kusama. Fast-moving projects can utilize a highly scalable, interoperable sharded network with Kusama deployment that includes features not yet present on Polkadot. In order to achieve this, Kusama refers to itself as a “canary network.”
On Polkadot, Moonbeam is a para chain for smart contracts that is compatible with Ethereum. Moonbeam makes it simple to construct or deploy Solidity projects in a Substrate-based environment using well-known Ethereum development tools.
Moonbeam is a highly specialized para chain that replicates Ethereum’s Web3 RPC, accounts, keys, subscriptions, logs, and more. It is much more than just an EVM implementation. With extra features like on-chain governance, staking, and cross-chain integrations, the Moonbeam platform expands the core set of Ethereum functionalities.
Top Polkadot Ecosystem Tokens by Market Capitalization