Polkadot Boom soon! — Everything you need to know about Parachains!

What will happen in the Polkadot ecosystem? As always, FATPIGSIGNALS and I are analyzing Polkadot fundamentals and some excellent trading points.

The Polkadot ecosystem has not the full functionality yet. However, this Parachains update means that Polkadot will soon be ready to host other blockchain projects on its platform. Companies will be applying for a spot to build a substrate on Polkadot. Substrates are Polkadot’s equivalent of smart contracts on Ethereum. So, developers will come and develop their own projects on the Polkadot ecosystem.

Those who are not familiar with the Polkadot and Kusama networks may not understand how significant this is. This is because most Polkadot experts did not expect Polkadot Parachain’s auctions to occur before 2022. It seems that the first 4 Parachain places will be awarded this October. This could have a very bullish effect on the price.

Polkadot is also a Layer 1 blockchain with smart contracts. This makes the project a potential competitor of Ethereum, among others. On a technical level, however, there are some notable differences between the two projects.

Polkadot’s technical framework consists of a relay chain, many parachains, and bridges. The relay chain is the leading blockchain of the project. It serves as…