Explaining Polkadot for Beginners

Imagine Polkadot ecosystem as European Union, where Parachains act as one union.

• They can trade between each other under a certain security.
• You can travel without any visa. (XCM)
• You can use the needs you require from other EU country easily.

Currently, this is the best approach against the communication problem of blockchains; connecting the dots without compromising the security.

As the number of specialized blockchains increases, the need for an interoperability is required; to be able to bridge all these platforms.

• You don’t need to build everything from scratch.
• You just borrow from an other country in EU or lend to an another.
• These countries/Parachains still act as independent within their own currencies, governance and economic structures.

For the ones who can’t afford or don’t prefer to be in EU/Parachains, can work through as e-Residency .

As an E-resident entrepreneurs from whole world can launch their EU-based company and benefit of shared security and bridging/XCM.

Pay as you go model→ Parathreads

You don’t even need to be a Parachain or a Parathread to leverage XCM.

You can still make a business, send messages over an EVM bridge across Parachains via XCMP.

In this European Union analogy: You can act same as United Kingdom.

If you like these kind of analogies, please let me know.

You can also check up my “Zero Knowledge Proof”; explaining on child level.

The post on → my twitter.