What are /r/Polkadot's favorite Products & Services?

From 3.5 billion Reddit comments

It's not an ETH killer. Both Gavin (co-creator of Ethereum and Polkadot) and Vitalik (co-creator of Ethereum) even says they serve different purposes in this article.

https://hackmd.io/@0TOBpaKkSieExetSaifRTA/rJpr5NbkS#Is-there-a-common-ground-between-Polkadot-and-Ethereum-What-do-the-projects-represent-in-the-ecosystem

A few points.

1. According to the last section of this article

https://hackmd.io/@beHJoYs7TbGToD_lc1aa8g/HJgZcXAmD

*We aim to become a collective in which members can learn how to make use of the network’s assets via proposals and fund projects to enhance their understanding.

Developer engagement is an important part of the Kusama ecosystem, but it is essential we also provide as many straightforward and simple on-ramps to allow non-technical end-users to participate.

The project focuses its efforts on the development of a communications strategy, brand development, educational resources for new members wishing to understand Kusama and its benefits further, and funds for the pot.*

1. How is this any different from any other blockchain/dapp with a Treasury and team fund?

2. I'll tell you how. Transparency in the allocation of funds by on-chain governance as opposed to the opaque ways other teams handle money.

3. This is on Kusama, the ground for experimentation. The society, as I understand it, is a social experiment. Who knows, maybe more useful societies will come out of this in the future.

In general, let's not confuse decentralization with egalitarianism. Every blockchain/dapp you support, there's a team making money behind it.

Hi Bill, there seems to be an issue when accessing notion.so ( of https://gist.github.com/kianenigma/aa835946455b9a3f167821b9d05ba376 : https://www.notion.so/aa835946455b9a3f167821b9d05ba376 ). Although the github link works fine.

KAR has not been distributed yet. you can follow the parachain deployment process for Karura here https://www.notion.so/dcabf9ba7c6246c69b913d5972503227?v=4121894373fd43d98ffcac260803928d

you can see your finalized rewards here https://distribution.acala.network/

80b is not a crazy market cap expectation if you consider that the ghost-chain Cardano was like 47b market cap at the height of 2017 bull-run. Granted that was the ICO craze, so the macro is a bit different...

I think if you read their medium post it's pretty self explanatory, but head over to and what rewards work for you. Personally, I like the idea of having my own dedicated router and VPN at my control vs. trusting a centralized service like NordVPN. The passive income stuff is just a nice feature on top.

That's a great question.

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When we go to Polkadot.js.org > Governance, we see "Democracy".

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Technically, this is not democracy. And it's good that's not democracy.

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Democracy is a beautiful word but it doesn't work.

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We actually have on Polkadot a governance based on "skin in the game".

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Indeed whales can force a bad decision on the network, but for this, they need to lock their tokens for a long time, which means that they are the ones that will most suffer from wrong decisions.

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That's similar to Bitcoin mining.

If Bitcoin's blocks were created by "democracy", it would have failed.

Instead, Bitcoin works because blocks are created based on game theory and the miners will rationally do what is better for the newtork, despite them being good or evil (because they want more money!).

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Skin in The + Math (Game theory) > Democracy

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But for many people, this is a hard pill to swallow.

#1 - it's not like Kraken's staking cannot get slashed. Their slashing clause says they will not compensate you if the slashing action is taken as a result of a malicious actor, which is the primary case during which your tokens would be slashed if staked directly.

#2 - The point of the validator system is that you can research their organizations and choose reputable ones.

IMO you're more likely to have your funds frozen or account issues with Kraken vs having your funds slashed on Polkadot. Kraken is a centralized exchange subjected to regulation and legal actions. They will always protect themselves if they need to at the expense of their users if regulation comes.

A validator has a lot of skin in the game and is incentivized to act in good faith, because if they get slashed, they lose their investment.

No one can regulate your Polkadot wallet.

Ofc no, if a project unable to win another slot, they will be ~~downgraded~~ converted to a parathread.

There's a bit of misunderstanding where a parachain always better than a parathread. Actually, depends on the project's need, parathread can be more efficient, which you can learn more here (Kraken's Blog) or here (Coinmonk's Medium)

From one of ETH 2 researchers:

"In particular, very few have noticed that the current plan for Ethereum 2.0 does not bring any useful scalability on its own."

"Cheap layer 1 transactions are probably gone for good, and Eth2 as currently planned is not going to change that. This will be surprising and disappointing news to many people."

Source: https://hackmd.io/@benjaminion/eth2_news/https%3A%2F%2Fhackmd.io%2F%40benjaminion%2Fwnie2_210213

Plus the ETH 2 design is meant to be rollup-centric meaning that its L1 is, in the long run, is only good for L2s settling.

Sure, PoS will increase throughput on Ethereum but it won't be the final fix for all of Ethereum's problems. L2s should be that.

Great question. When comparing any blockchain network, it's imperative to keep in mind the "blockchain trilemma"; that is, due to fundamental limitations with networking technology, every blockchain today invariably makes trade-offs at some point in the quest for the holy trinity of decentralisation, security, and scalability/latency.

In the case of Polkadot, one could say that it *slightly* compromises on decentralisation— albeit with a clear path to decentralising the network further over time (by increasing the number of validator nodes).

Avalanche loves to claim that it's the world's fastest and most decentralised blockchain due to a "novel new consensus mechanism". Of course, though, it doesn't advertise the fact that it achieves this by compromising the entire network's security. The achilles heel of the Avalanche network is in its subnets—specifically, inter-subnet trust.

Because Polkadot has its relay chain to which all shards/parachains are connected to, the same level of security is guaranteed to be propagated across every shard of the network. With Avalanche, however, the entire network is only as secure as its weakest subnet. Or, to paraphrase Gavin Wood, "messages from one subnet can affect a state change in another subnet" [1]. (I highly recommend reading the article by the way, very informative).

In summary, I'm far more confident in Polkadot than Avalanche for many reasons. But the main one is that IMO it has been designed with the appropriate trade-offs made and maximising chain security is a necessity to facilitating real-world mass adoption by enterprise.

[1]. https://hackmd.io/@gavwood/HJrgddTxD

Yes I did thanks to the help of another reddit user. https://uphold.com/en/transparency%C2%A0

teir 3 is what you can withdraw/deposit. You'll have to convert the Polkadot to a different coin and then make the transfer

Here's an overview (I just found this info from them) of what you can't/can withdraw/deposit/buy/sell/etc. The cryptos you can't withdraw do raise concern for me... Call me skeptical but I feel like you aren't holding the asset if you can't withdraw let alone deposit said asset...

https://uphold.com/en/transparency%C2%A0

https://metamask.io/

Is this the correct place to get started?

I have an ETH address but it needs to specially be a metamask address? I’m guessing because of the same reasons a ledger won’t work with the other crowdloan rewards.

Thank you, I appreciate your feedback!

I really like this subject.

>f they would blow it in a month maybe they are not the best ones to obtain it.

It's may sound trivial, however, even in traditional inheritance systems, some people organize it so the receivers can't touch the "three".

For example, some people set that the son need to be at a certain age to spend the principal amount.

This is because some people (even adults) can handle money...

In some cases, it's good to create some nudges, even if it sound "economically wrong"

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