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Polkadot

Intro to Polkadot - Lesson 1
What are some limitations of early blockchains like Bitcoin?
Slow transaction speeds, high fees and inability to communicate with other blockchains

What is Web 3.0?
A new web built around decentralised technologies where users have more control over their data

How does Polkadot address some of the limitations of earlier blockchains?
it allows multiple blockchains to communicate with each other and process transactions at the same time
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How Polkadot works - Lesson 2

What is a relay chain?
A blockchain that connects other blockchains and allow them to communicate

What is a parachain?
A blockchain that connects to the Relay Chain and operates in parallel to other parachains

What problems do parachains and relay chains solve?
The inability of blockchains to communicate with each other
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Who decides the future of Polkadot? - Lesson 3

Who is able to vote for new iniatives like network upgrades on the Polkadot network?
People who hold DOT token

What is Polkadots on-chain treasury?
A pot of tokens that can be used to support projects that benefit the network

How does Polkadot's governance system differ from some other popular blockchains?
It's governed by a community through voting
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What is DOT? - Lesson 4

What is Polkadot's native crypto token called?
DOT

What does 'staking' your DOT tokens mean?
Helping secure the network by locking up DOT tokens, in return for a reward in DOT tokens

What does 'bonding' your DOT tokens mean?
Locking up tokens in order to secure a slot for your parachain on the relay chain
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Polkadot and its uses - Lesson 5

What are some use cases of Polkadot?
NFTs, DeFi, powering smart cities

What makes applications built on Polkadot different from the apps on your phone?
Polkadot apps don't need to reply on a middleman to work, and can keep your data safer

How do apps on parachains communicate?
Via the Relay Chain