Cryptocurrency News

Expanding our Network: Partnering with Polkadot to Empower User-Governance and Interoperability

Today, we’re partnering with the Polkadot Network to accelerate the adoption and decentralization of Polkadot tokens (“DOTs”) as it aims to solve the challenges of cross-blockchain interoperability and create a new paradigm for on-chain governance.

When the integration is complete, Blockchain’s over 41M Wallets will not only be able to store, send, and receive DOTs, but also drive the network’s governance by voting on key questions like proposed amendments to the network protocol and council members.

These questions have typically been reserved for networks’ miners, but Polkadot turns traditional governance on its head. It empowers users to control and upgrade the network to adapt to market needs, without having to resort to a hard fork.

But that’s just scratching the surface of what the Polkadot Network can do for the future of crypto.

New to Polkadot? Here’s what you need to know:

Polkadot, announced in 2017, is the first project by the Web3 Foundation and one of the most anticipated networks to launch. Its first implementation is being developed by the founders of Parity Technologies, Dr. Gavin Wood, who also co-founded Polkadot and Ethereum, and Dr. Jutta Steiner, CEO of Parity and Ethereuem’s first Security Chief. Its team is creating a scalable, governable protocol that enables interoperability between blockchain networks.

“Polkadot is exactly the type of purpose-driven network we’ve always supported at Blockchain,” says Peter Smith, Co-founder and CEO of Blockchain. “The team behind the project has a wealth of experience, and shares our vision for a decentralized future where users are in control.”

In a world with many different blockchain networks, communication between them will be vital and could produce some of the biggest outcomes in cryptocurrencies. The ability to connect different blockchains will power many innovative and critical functions that will unleash the potential for disruptive applications.

We’re excited to be bringing the Polkadot Network into your Blockchain Wallet. Stay tuned here for updates on the integration, including when you can use DOTs.

To read more about the Polkadot Network, click here.

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