Polkadot (DOT)

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Here's an example of Polkadot's parachain technology finding some real world use case:
A division of professional services firm Deloitte, one of the “Big Four” accounting firms, will use the Polkadot-based Kilt blockchain to offer logistics and supply-chain services focused on the shipping industry.

Ingo Rube, founder of the KILT Protocol, told CoinDesk in a fireside chat at the India Blockchain Week conference that Deloitte is working with Nexxiot, a supply-chain technology company, to offer a new type of logistics service called KYX.

KYX is a combination of Know Your Client (KYC) and Know Your Cargo – two processes that identify and verify the client's identity and their shipped goods, respectively. This system is built on the Kilt network.

"Using decentralized and open-source solutions 'Built on KILT,' any entity could create a service built on a blockchain without having to deal with cryptocurrencies or needing blockchain experience," Rube said in a statement.
...


Polkadot unites and secures a growing ecosystem of specialized blockchains called parachains, forming the basis for a truly interoperable decentralized web.

KILT is building on Polkadot because it is the only technology to date that combines low fixed and definable network costs with aspects of the tamper-proof “trustless” nature of blockchain. KILT's parachain on Polkadot launched in October 2022 to leverage the bank-level security required by enterprise, and to provide KILT identity solutions to Polkadot projects.


I like Polkadot (DOT). It was a great performer for me when I had a small bit staked on Kraken (before the SEC forced Kraken to abandon the staking service for customers). I had to learn how to stake DOT natively and it was a learning experience, but it really was not that difficult. In my experience, Polkadot doesn't move as quickly as the rest of the crypto market. It's like a turtle - moves slow and steady, but follows the direction of the market.
 
Is DOT a ticker? If so, I didn't find a chart.
DOT is the acronym that is commonly used to represent Polkadot. Use the "ranked by market cap" link in the OP and you will find DOT at 15th currently.
 
More info on Polkadot (DOT):
...
The new year promises to be a rather busy time for Polkadot. Agile Coretime, On-Demand Parachains, Ethereum Snowbridge and the Kusama bridge are four major pieces of infrastructure imminently landing. Elastic Scaling adds a fifth technology which I’d expect to see in 2024. I can also say I’m looking forward to the expansion of our DAO primitives, between new fellowships, multi-asset sub-treasuries, expanded XCM and some exciting new primitives which we have in development.

Sassafras, our novel forkless block-production consensus algorithm, has taken shape and we can expect this to begin being used in testnets over 2024. Parity Labs is also working on a number of new technologies; a recent RFC (closed as it goes through some major iteration in the prototyping phase) known as CoreJam might give the interested some ideas about the direction being taken here.
...

More (long):


Seems like a good bit of development ongoing for Polkadot.
 
I was watching the (second) video in this tweet:



Around the 1:50 mark, a guy from Acurast demonstrates their distributed cloud computing system using Android smartphones that looks a lot like the Edge Node computing system from Theta Networks:



I went to their website for more info and their system does not run in the background. If you want to participate in the network and earn rewards, you need to use an old phone because their app will lock the phone down for dedicated use to the cloud computing:
...
Upon installing Acurast's Processor application, the Android device is fully locked down, with only the application running. Make sure to utilize one of the recommended devices to be able to get Jobs assigned to your device.
...


The docs indicate that the device needs to be running Android 11 at least.

...
For the reward flow, the consumer defines the budget for the execution of the specified job. The budget can be defined in native ACU tokens, or for example, FIAT-pegged stablecoins. This mechanism allows for deterministic financial planning of executions for both the processor and the consumer. The processor automatically receives the reward upon successful execution of jobs.


I need to investigate further to really understand the reward system and cost/benefit potential.
 


BEEFY will enable trustless cross-chain bridging - that means cryptos can be moved/traded across different chains (like between Polkadot and Ethereum) securely - without possibility of hackers stealing the transfered tokens. I believe it also means that Ethereum apps can now bridge ETH via the Polkadot chain to other destinations and avoid the high gas fees on the Ethereum chain, but don't quote me on that.



JAM? I wonder what's cooking ... :popcorn:
 
I wasn't looking for it, but I found this:
Key Points
  • The Polkadot system aims to connect different blockchains, expanding possibilities for developers and users.
  • As a key enabler of web3, Polkadot could see significant growth if this vision becomes widely adopted.
  • Polkadot's success hinges on its ability to continue innovating and attract a vibrant developer community.
  • Motley Fool Issues Rare “All In” Buy Alert
...

More:


^ does a decent job explaining Polkadot's USP.
 
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