How to Launch a Project on Polkadot

By Stan Peterson
December 8, 2021 Updated December 8, 2021
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The Polkadot ecosystem is a relatively new area in the world of blockchain and is leading the third-gen movement. The aim is to make blockchain tech interoperable and scalable. To do this, there is an inner network called the Polkadot Relay. Coming off this, there are parachains, which are connected to a parachain slot. When a “transaction” is made on the ecosystem, the change happens simultaneously through the relay. On the outer level of the Polkadot network are parachains that act like blockchains, with the difference being that they can communicate together. Access to the Polkadot network is won through bidding on a parachain slot using their native crypto DOT. If you win, your crypto assets are tied up until the end of the slot lease. If you’ve been asking how you can develop on this Defi system, continue reading for a short guide.

Why Polkadot?

The fundamental reason for developing through Polkadot’s parachains is interoperability and scalability. The Polkadot ecosystem is designed with scalability in mind, and because it allows chains to interact, it can cope with more than single chains can. In particular, Polkadot is heavily involved with the development of dApps, with the Ethereum Defi reportedly migrating to the system.

Integrating with Polkadot

Currently, the main project launches on the Polkadot ecosystem are parachain building, dApp development on the blockchain, and cross-chain bridging. These are just a few examples of the capabilities of Polkadot. However, if you’ve got development in these areas, you should look to bid on a parachain slot.

Parachain Development

Parachain development takes the independent blockchain we all know and makes it capable of interacting with other chains. To develop Polkadot parachains, you need to have a deep understanding of the Rust language. However, you can typically create a blockchain project using other languages including Java, Go, and C++. If your language is supported by the parachain slot, you’re good to go. If you’re looking to build parachains through Polkadot they will supply you with a Polkadot development kit (PDK), which is available in Cumulus and Substrate.

Polkadot dApp Development

With the interoperability and scalability of Polkadot, keen developers looking to build dApps systems are flocking to secure places on the Relay Chain. Most significantly, devs are looking to create open finance dApps that can integrate with other blockchains. For a couple of great examples, check out RIO Chain and Centrifuge.

Cross-Chain Bridges

Another way to access the Polkadot network is to create cross-chain bridges. This is exactly as it sounds. Your service would sit on the Polkadot network and work as a token exchange service that would link external blockchains into the Polkadot ecosystem. Wanchain is one of the most obvious examples of a cross-chain bridge.

If you’re a developer looking to create dApps or Defi, the Polkadot ecosystem of parachains is the way forward. Alongside further reading and a solid idea, you will need to have a deep understanding of code languages before you get stuck in.

Being an active participant in the Blockchain world, I always look forward to engage with opportunities where I could share my love towards digital transformation.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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