Audit Date: 27 September 2022
ECOSYSTEM SCORE
27 September 2022
81
ALERTS
Aug 03, 2022

Hubble explorer is currently working but it will not accessible in fourth quarter of 2022

Jul 06, 2022

Official invitation link has expired.

Jun 28, 2022

717 validators are waiting.

Jun 24, 2022

Channel is currently muted.

Jun 21, 2022

Hubble block explorer is down.

REVIEW NOTES
Sep 22, 2022

Ecosystem score decrease due to decrease in documentation score.

Jun 28, 2022

Add-ons score is increased due to the introduction of DAO.

Jun 21, 2022

Third-party services score increased as Chainlink integrated with Moonbeam.

Jun 21, 2022

Documentation score decreased due to no official skeleton code.

Jun 21, 2022

Foundation score increases due to introduction of GO and C++ implementation.

PERFORMANCE
Empty container
100
NODES

297 nodes

WRITE SPEED

6,766 ms

READ SPEED

1,234 ms

GAS FEES

15 mroc

UP TIME

100%

PERFORMANCE MATRIX VALUE MONITORED AT
Gas Fee 15 mroc
Read Speed 1,234 ms
Write Speed 6,766 ms
Uptime Percentage 100%
Node Count 297 nodes
Reddit Total Members Online 565 members
Reddit Total Members 80,000 members
Discord Total Subscribers Online 3,129 subscribers
Discord Total Subscribers 23,997 subscribers
Telegram Err 31 err
Telegram Ppm 4 ppm
Telegram Views Per Post 515 views
Telegram Total Subscribers Online 1,451 subscribers
Telegram Total Subscribers 32,483 subscribers
FOUNDATION TOOLS
Empty container
70
ESSENTIAL TOOLS
PROGRAMMING LANGUAGE SUPPORT
SDKs
DOCUMENTATION
Empty container
83
API DOCUMENTATION

Exists

100
NODE SETUP

Exists

90
SKELETON CODE

Exists

50
VALIDATOR NODES

Exists

90
GRANT PROGRAM
Empty container
50
AVAILABLE GRANT

293million

ADD-ONS
Empty container
69
THIRD PARTY SERVICES
Empty container
100
PROTOCOL SUPPORT
Empty container
60
ADOPTION
Empty container
100
DEVELOPERS

9,965

REPOSITORIES

386

COMMUNITY
Empty container
100

Overview

Polkadot is a blockchain platform built to enable a completely decentralized web where users are in control. Polkadot connects independent blockchain networks, private and consortium chains, public and permissionless networks and oracles, enabling them to exchange information and transactions in a trustless way.

The Polkadot ecosystem has interoperability at its core, and it provides a development tool for the easier development of interoperable decentralized applications, services, and institutions.

About Polkadot

Polkadot is the first fully-sharded blockchain that enables the creation of the internet in which independent blockchains can exchange information while sharing common security guarantees. A Swiss Foundation named Web3 Foundation funds the development of the Polkadot ecosystem.

Architecture

The Polkadot ecosystem is a network of parachains and parathreads connected to the relay chain in the Polkadot ecosystem. Bridges connect parachains to external networks, and the relay chain ensures the network's overall security.

Relay Chain

Relay Chain is the layer 0 blockchains of the Polkadot network, in charge of shared security, cross-chain interoperability, and consensus.

Parachains

Parachains are the heterogeneous layer 1 blockchains that run parallel to Polkadot. Parachains can have their own tokens, functions, and use cases. Parachains need to acquire a slot on Polkadot through auctions.

Parathreads

Parathreads are similar to parachains, but these chains do not require constant network connectivity and thus operate on a pay-as-you-go basis.

Bridges 

Bridges allow parathreads and parachains to interact with external networks like Bitcoin and Ethereum.

Consensus mechanism

The Polkadot network has a hybrid consensus model, and it achieves consensus through a complicated process that employs two distinct but complementary consensus algorithms:

GRANDPA (GHOST-based Recursive Ancestor Deriving Prefix Agreement), which provides the network with the advantage of probabilistic finality, i.e., the ability to generate new blocks continuously and accurately.

BABE (Blind Assignment for Blockchain Extension), which provides the network with the advantage of provable finality, uses a universal agreement with no chance of reversion.

Key features

True interoperability

Polkadot facilities cross-chain transfers of any type of data or assets, unlike some blockchains that allow the transfer of only tokens.

Transactional scalability

Using a shared set of validators, Polkadot allows for the smooth distribution of transactions across multiple parallel blockchains and enables transactional scalability.

Easy to innovate

Substrate-built blockchains are inherently compatible with Polkadot, and it only takes a few minutes to connect a substrate chain with Polkadot for complete interoperability and security.

Forkless 

Polkadot is a future-ready protocol that does not require any forks to upgrade itself to keep up with emerging technologies.

United Security

Polkadot allows independent chains to interact with one another while maintaining their independence in governance. However, their security becomes more cohesive, which improves the overall security of the chains.

DAO network governance

Over the Polkadot network, every stakeholder has a say. Any network upgrades are coordinated on-chain and carried out autonomously.

Founders

Dr. Gavin Wood

Gavin began originating blockchain technology as co-founder and CTO of Ethereum. He invented fundamental components of the blockchain industry, including Solidity, Proof-of-Authority consensus, and Whisper. At Parity, Gavin currently leads innovation on Substrate and Polkadot. He coined the term Web 3.0 in 2014 and currently serves as President of the Web3 Foundation.

Robert Habermeier

Robert Habermeier is a blockchain researcher and developer with experience in distributed systems and cryptography. He is a Rust community member who focuses on leveraging the language's features to create highly parallel and performant solutions.

Peter Czaban

Masters in Engineering Science from the University of Oxford, Peter has worked on mesh networks, machine learning, distributed knowledge bases, quantitative pricing models, and business development across the defense, finance, and data analytics industries. Currently, he is serving as Web3 Foundation's Technology Director, where he supports the development of the next generation of distributed technologies.

Popular use cases

Acala is a decentralized finance network and liquidity hub for Polkadot. It is a Layer-1 parachain smart contract platform that is highly scalable, Ethereum compatible, and DeFi optimized.

Moonbeam (GLMR) is a Polkadot-based Ethereum-compatible smart contract parachain.

Clover Finance (CLV) is a Polkadot-based parachain that aims to provide an intuitive blockchain infrastructure to reduce efforts and costs for decentralized finance developers.

Enfinity (EFI) is a Polkadot parachain that aims to be the next-generation blockchain for NFTs by charging low fees and rewarding ENJ holders.