Polkadot is a next-generation protocol that enables cross-chain transfers of any type of data or asset. It is built on Polkadot’s unique relay chain technology, which allows it to securely connect to multiple blockchains and achieve high scalability.
Polkadot is also the first protocol to offer trustless cross-chain transfers, meaning that users can transfer assets between chains without having to trust a third party.
NOTE: Warning: Polkadot is not built on Ethereum. It is based on the same technology, but is its own separate blockchain. You should not assume that Polkadot is built on Ethereum or that the two are interchangeable.
Polkadot was originally proposed by Gavin Wood, one of the co-founders of Ethereum, and is now being developed by the Web3 Foundation. The foundation is a non-profit organisation that is dedicated to building the next generation of decentralised applications (dApps).
The answer to whether Polkadot is built on Ethereum depends on how you define “built on”. If you mean that Polkadot uses Ethereum’s blockchain in some way, then the answer is yes.
However, if you mean that Polkadot is a direct competitor to Ethereum, then the answer is no. Polkadot is designed to complement Ethereum and other protocols, rather than compete with them.
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Polkadot is a next-generation blockchain protocol that enables cross-chain transfers of any type of data or asset. Polkadot was founded by Gavin Wood, co-founder of Ethereum, and is backed by a host of well-known investors, including Peter Thiel’s Founders Fund. The Polkadot protocol is designed to be far more scalable than Ethereum, with the ability to process thousands of transactions per second.
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