Opting for decentralization represents a highly practical approach to design. Unlike Web2, which relies on opaque control and trusted intermediaries, Polkadot functions through the collective effort of hundreds of validators. Each of these participants stakes capital to serve as a bond for their honest conduct. The network ensures security through an incentive-based model, offering rewards for accuracy and high uptime.
Polkadot has successfully advanced to a new level of capability. The runtime upgrade implemented today launches a network that is simpler, faster, and more practical for real-world applications. Regarding the improvements to your experience, you will notice that applications operate with greater fluidity and speed, while transaction confirmations occur much more rapidly. Furthermore, this update ensures that builders can dedicate their efforts to developing products rather than managing the complexities of protocol engineering.
The breakdown of centralized institutions during the 2008 financial crisis highlighted a fundamental flaw: systems reliant on trust crumble when those institutions fail.
Prior to the release of the Macintosh, the philosophy was paramount. Leaders like Steve Jobs were molded by the counterculture of the 60s, which embodied a rejection of the corporate uniformity and mass media dominance inherited from the 1950s.
While technology evolves, the ethos remains unchanged.
Web3 didn’t start with Bitcoin, nor is it simply “Web2 with tokens.” It belongs to a much longer lineage that stretches from the personal computer to the early internet.
These are tools designed to shift power from institutions to individuals.
The Kusama runtime upgrade that took place yesterday marked two significant advancements:
→ Block times have been reduced from approximately 6 seconds to less than 2 seconds, thanks to Elastic Scaling. → Introduction of Revive: a comprehensive smart contract platform that operates on both PVM and EVM.
Developers can deploy Solidity contracts without modifications and utilize their well-known Ethereum tools.
Staking rewards on Polkadot operate within a cycle of approximately 24 hours, referred to as an "Era," which is typically divided among around 22,000 nominators.
In Era #2035, an event occurred involving an off-chain election tool that restricted the nominator pool to merely 3,000 participants. This limitation resulted in increased individual payouts for those who were part of this smaller group. Fortunately, the issue has been addressed, and the nominator set has now reverted to its usual number of approximately 22,000 nominators.
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