Polkadot was conceived by Gavin Wood, one of Ethereum's original architects, to address a specific limitation of the existing blockchain landscape: each chain operates as an isolated island, unable to communicate meaningfully with others. Polkadot's architecture connects multiple specialized blockchains called parachains under a shared security umbrella provided by the Relay Chain. A parachain focused on DeFi can communicate seamlessly with one focused on identity or gaming. Slots on the Relay Chain are limited and auctioned teams bid using DOT tokens, creating demand for the native asset. The vision is a web of interoperable, purpose-built chains rather than one chain trying to do everything at once.
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