Blockchain Projects and Their Practical Working: A Case Study of Polkadot

CRYPTO FINANCE AND
CRYPTOCURRENCY

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
CONCLUSION................................................................................................................................5
REFERENCES................................................................................................................................1

INTRODUCTION
The report will comprehensively analyse the blockchain projects and how they work by
bringing the value in projects. Also, the quality of information in white paper will be assessed.
Further, “Polkadot” block chain project will be taken and it's scalability and decentralization will
be evaluated. At last various opportunities, risks and challenges of blockchain project will be
illustrated.
MAIN BODY
A polka dot block chain project works by a distributed database which maintains
constantly growing list of ordered records which is called blocks. It is a next generation protocol
of block chain which unites an entire network of purpose built block chain it allows these to
operate seamlessly. These blocks are with other blocks using cryptography. Each of these block
contain the cryptographic hash which belongs to the previous block, transaction data and a time
stamp (Valdeolmillos and et.al., 2019). It is basically a distributed, decentralized and public
ledgers which is used to maintain the records across the computers and systems so that the record
can not be manipulated with the consensus of the network and alteration of the blocks which are
subsequent. Polka dot allows sharing of any type of data to between any type of block chain. It
has the current market cap of 7.29 billion USD, with the high volume of trading per second.
SORA network is an ecosystem helping the polka dot project to connect to other block chain like
Binance and Ethereum by building token bridges across the ecosystem (Scott, de Castro Neto
and Pinheiro, 2021).
A block chain technology supports the projects by enabling a network that verifies each
transaction which becomes a new block of data. And this data is added to the block chain which
is become available to all the users of the network. It is the infrastructure of the digital currency
and the process is known as cryptography that creates digital currency. It brings the value in a
project by enabling global per network, value exchange network, authentic online documents,
digital assets and contracts, parties stay anonymous (Joo, Nishikawa and Dandapani, 2019).
Also, it provides spreadsheet which can record transaction that are verified efficiently and
permanently. It creates value addition in terms of keeping the data in the safest formats where
alternation is not possible without dual or multiple authentication. It has generated the values by
keeping the digital assets which remains unhurt and name of the people remains undisclosed
which brings privacy in the highest form.