Welcome Polkadot! Many chains, one network, first validator in L…

Welcome Polkadot! Many chains, one network, first validator in LatAm.

June 26th, 2023

Polkadot extends its network across Latin America as we introduce our latest validator, creating endless opportunities for growth, adoption and collaboration in the region.

Special thanks to Web3Foundation for the support. We’re thrilled to be part of such a game-changer network.

This is our opening message to collaborate in the growth and development of Polkadot in the region. Sync with us! We’ll be present at the Polkadot Decoded 2023 Satellite Event organized by Polkadot Hub on July 6th.

Validator Info:

SenseiNode's DOT Validator. APR% is is determined by the protocol itself and based on Historical Rewards Rate.

What is Polkadot?

Polkadot is a next-generation blockchain protocol connecting multiple specialized blockchains into one unified network (a sharded blockchain) allowing them to operate seamlessly together at scale, by parallel transaction processing and data exchange, in a secure and trust-free environment, while optimizing each chain for specific use cases avoiding a one-size-fits-all approach.

Connecting the dots

Designed as part of a broad vision for a web that returns control to individuals over internet monopolies, Polkadot builds on the revolutionary promise of previous blockchain networks while offering several fundamental advantages.

🟣🚀 Scale

Polkadot's sharded multichain network resolves the limitations of isolated blockchains by enabling parallel processing of transactions across multiple chains. This eliminates bottlenecks found in legacy networks that process transactions sequentially, paving the way for greater adoption and future growth.

*The main Polkadot blockchain is called the relay chain. The interconnected chains on Polkadot, known as "parachains," operate in parallel, further optimizing the network's capabilities. *

🟣🔬 Specialize

On Polkadot, each blockchain can have a novel design optimized for a specific use case. That means blockchains can offer better services, while also improving efficiency and security by leaving out unnecessary code.

🟣🤝 Work together

Networks and applications on Polkadot can share information and functionality like apps on a smartphone. Unlike standalone networks, Polkadot fosters interoperability and cross-chain communication, facilitating the creation of innovative services.

Because Polkadot allows any type of data to be sent between any type of blockchain, it unlocks a wide range of real-world use cases. By bringing together the best features from multiple specialized blockchains, Polkadot paves the way for new decentralized marketplaces to emerge, offering fairer ways to access services through a variety of apps and providers.

🟣🫂 Self-govern

Communities on Polkadot govern their network as they see fit, and hold a transparent stake in the future of Polkadot’s network governance as a whole. Teams can customize and optimize their blockchain’s governance to their needs, experiment with new ideas, or swap in pre-built modules for faster deployment. Moreover, blockchain governance models can be continuously refined to adapt to evolving needs and conditions.

🟣🧑🏻‍💻 Upgrade easily

Polkadot revolutionizes blockchain upgrades by enabling seamless and forkless upgrades, eliminating the need for hard forks that can divide communities and require extensive work. This flexibility allows blockchains to evolve and adapt easily to leverage better technology as it becomes available.

Nominators and Validators

Polkadot implements Nominated Proof-of-Stake (NPoS), a relatively novel and sophisticated mechanism to select the validators who are allowed to participate in its consensus protocol. NPoS encourages DOT holders to participate as nominators.

Nominators are one type of participant in the staking subsystem of Polkadot. They appoint their stake to the validators, the second type of participant. By appointing their stake, they can elect the active set of validators and share in the rewards that are paid out.
Validators have two crucial roles in maintaining the Polkadot network. They participate in consensus with other validators to produce new blocks on the Relay Chain. Second, they verify and validate the information in the assigned parachain blocks.
Becoming a validator requires some technical skills, a stake of DOT, as well as trust and support from the community in the form of nominations.