Cryptocurrency Q&A
Is Polkadot a ghost chain?
Is Polkadot a ghost chain?
Martino
Tue May 14 2024
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5 answers
1066
Excuse me, I've been hearing quite a bit about Polkadot in the cryptosphere, but I'm still a bit hazy on its functionality and significance. Could you please clarify for me? Some people seem to refer to it as a 'ghost chain', but I'm not quite sure what that means. Is Polkadot indeed considered a ghost chain? If so, what characteristics or functionalities does it possess that give rise to such a nickname? Or is this just a misnomer, and Polkadot actually serves a much more substantial role in the blockchain ecosystem? I'd really appreciate it if you could break it down for me in a way that's easy to understand. Thank you in advance for your help.
5 answers
GeishaElegance
Thu May 16 2024
In terms of network efficiency, Polkadot's GRANDPA consensus mechanism excels.
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KimonoGlory
Thu May 16 2024
GRANDPA, standing for GHOST-based Recursive Ancestor Deriving Prefix Agreement, is a unique consensus algorithm designed specifically for Polkadot.
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Eleonora
Thu May 16 2024
This consensus mechanism ensures that under optimal network conditions, blocks can be finalized almost instantaneously.
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MysticInfinity
Wed May 15 2024
This rapid finalization not only enhances the speed of transactions but also adds to the overall security of the network.
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isabella_cole_psychologist
Wed May 15 2024
BTCC, a renowned cryptocurrency exchange headquartered in the UK, offers a comprehensive suite of services. These include spot trading, futures trading, and secure wallet solutions.
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