When Gavin Wood co-founded Ethereum, he claimed that it would "allow people to interact in mutually beneficial ways without anyone having to trust each other."
In theory, such a platform would pave the way to Web3, characterized by decentralized or distributed network architectures, which would lay the foundation for a truly open Internet where we would not have to blindly trust our data to monopolistic corporations or get their permission. to participate.
Polkadot shows interest in Latin America: Santiago was the epicenter of a Blockchain meetup
However, since its inception in 2015, Ethereum simply hasn't managed to adapt fast enough and keep up. Transaction costs for decentralized applications (DApps) have been too high, while transaction speeds have been too slow. Wood left the Ethereum team in 2016 and founded the framework for a decentralized Web3: Polkadot.
With its series of parachain auctions beginning to gain attention, the blockchain of blockchains is rounding off a very exciting year, starting with the launch of Kusama, its canary network. Kusama's motto is "expect chaos". And looking back, it's clear that the network's expected chaos during its parachain auctions set the stage for a strong Polkadot foundation and eventual decentralized Web3 in the years to come.
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