Polkadot: Blockspace, Coretime, and Inter Miami CF | European Blockchain Convention

[Music] uh good afternoon um very good to see a packed room um after a long time you know speaking in a packed room here so I'm radad dasari I work at web3 Foundation uh I'm a technical educator so education is my main objective uh in the ecosystem but I wear multiple hats uh there so to relate to me as a speaker so I have a PhD in computer science with a focus in AI um I've been a faculty at University of Vermont for 3 years in computer science department then I've moved to like web3 Foundation three years back so let's get to the topic for today so so what ties like those three things together so that's that's the key uh objective of my talk today um so I'd like to start with with data so because data doesn't lie you know blockchain doesn't blockchain data doesn't lie so so we have about 50 parach chains on bulka dot these are the blockchains running in parallel uh when consolidating you know the activity on all of the parach chains along with PKA do so we have about 7 million active accounts that have made transactions there 17 million transactions um and yeah so the point being like whenever you talk about like activity you hear that poot is sort of dead so this slide sort of I want to make make sure that that misconception is is gone and yeah so talking about the vision of web 3 right so every single one of you here in some way relates to to the actual promise of like web 3 which is you want to you know have this decentralization avoid centralized like points of failure um you want things to be accessible as well as high quality I mean that has been the key uh point of discussion even in the panels earlier so I'm going to tell the ground reality of how padot is trying to keep these promises so first of all the the product that padot offers is block space a block space that is abundant secure and flexible right so uh with the parallel sharding architecture that we've implemented so poot is offering um a a high quality block space for you to utilize and and you can already see that there are multiple projects that are building on poka do not just parach chains so you have like wallets you have like um you know daps as well as like infrastructure out there now the interesting thing here is that yes there is like a lot of D5 based use cases but padot is exploring a lot of other blockchain use cases as well so the previous panel ties into this talk like very seamlessly so poka dot with its like design uh and you know the secure block space is able to provide uh a transfer fee of less than a cent for stable coins so we think this is going to be like a game changer um you know especially in the developing nations uh you can't you can't send like a Dollar by paying like $10 as transfer fee right so so poot sort of ensures that uh this transfer fee is sort of stable and we've also demonstrated that uh when there was this inscriptions cze there's a huge volume on padot chain and the fees for for transfer on pad do remained almost stable so this is very much in contrast with like ethereum and evm based chains where you know the transfer fee sort of spikes and you as a developer or like a a business doesn't know like what's going to happen in the next one year right so you can't make a business model with such a fee model so potis is creating this stable environment with its abundant block space to to bring new business use cases into picture yeah and then um my words weren't empty uh earlier so we are actually proving that that blockchains can be used for high volume like use cases like uh we have like mythical games so they are very famous for the NFL Rivals app in the in the US it's one of the top uh apps downloaded for for gaming um so they have moved from from evm ethereum architecture uh a little bit uh by backed by like poka do and I'm going to explain a lot more details about why they made this switch so you can see uh they launched like like uh fully last month and then you can see plenty of activity and poka do supporting that activity seamlessly and there's also the social media use case we all know you know we have like 6 billion people or more on this planet uh most of them have access to Internet and everybody has the social identity there's a lot of business around U you know the data that that we are producing right so it's only fair that those users have some you know payback for for the data they're contributing um and that that sort of model is only possible if you bring like web 3 or like blockchain technology into picture right so uh if if Google and Facebooks are making billions in Revenue it's through that data so it's it's it's time that they they receive the data back and and frequency is one of the para chains that is working on solving that problem uh the founder of frequency is also looking at um acquiring like Tik Tok we don't know if that deal is going to go through but the idea is that bringing all of those users in creating a social graph that could that could be used like uh across different apps that's their idea so they started with the uh social network called MBE and then they've made a migration for millions of users there so we are having like use cases more than like d present on PKA Dot and and you know they're they're going to come to Limelight soon and yeah so how are we making this possible so uh 3 years back you would have heard the hype around like parach chain auctions you know all the crowd loans U all the hype surrounding it like you know having this two years of like like lease for like parach chains so things have changed like we we've heard uh you know what's happening in the community and then we've switched we actually launched this agile Cod time last week so it's like a very new feature update to poka dot so the idea is that okay so you have to have access to blockchain 24x7 PKA do gives that and if you are like a uh a small organization you don't have to produce a block every 6 seconds maybe you have to consolidate your data into a ledger every 20 4 hours so that is possible with this architecture as well so the idea is to avoid ghost chains like you know running like empty blocks um 24 by7 we are solving that efficiency problem with this HL qu time so if you want to produce a block you produce it on demand and we we're going even further so this feature is is going to be um released like later in the year so we are implementing what um think of like a cloud service provider so if there is a lot of uh demand let's say there's a sporting event a lot of people access that that sporting you know app and the cloud elastically scales to to give that that bandwidth so we are applying the same to blockchain here with elastic scaling so I'm using this example of minting like nfts right so this could be like a onetime event where you need a lot of like capacity so poka do is able to assign a lot more cores you know a lot more validators to facilitate your parach chain you can think of parach chain as rollup so poot has like 50 rollups these rollups can elastically scale when whenever they they need um you know the block space and yeah so from the beginning poka Dot's narrative has always been connecting blockchains together we started out with connecting parach chains together first all these rollups on padot um enjoy the privilege of coming securely communicating with with each other this is not the case in ethereum so all the L2 rollups are are in isolation poot provides a design where they can communicate securely and we already see a lot of activity between these par chains and then we're also expanding it even further because like we don't want to be in this island we want to you know sort of talk to all of you you know make business with all of you so we have like a trust L Bridge so this is one of the Unique Designs out there most of the bridges are based on like multisig or you know some Central points of failures we have seen that with hacks so trustless bridge is when one protocol understands what's happening on the other protocol and all of this is embedded on the Chain so we have a trustless bridge with like Bitcoin and ethereum in operation uh we have one more project called as hyper Bridge so they're bridging with with a lot of like rollups uh in the theum ecosystem as well and yeah so let's talk about what's happening on this slide so how did we get here like how does like P PKA do get onto that t-shirt so this is where one of the very key things about like poad do uh uh I want to shine light on that which is our governance so padot is one of the arguably the largest Dow out there so every do holder is able to participate in in like the governance of padot so of all 1,164 referenda that were processed on on padot governance one of that referenda is about putting poka dot on on Messi's t- t-shirt like you know a partnership with like uh inter Miami CF um yeah padot has treasury U and then padot also does its like upgrades the features using like this Covenant and we're getting better uh whether we our spending is good or bad uh we don't know yet uh but based on the feedback like we're making it much more like orderly so check out open.at you you're able to get a lot more insight into how our da works and as you can see from uh June our treasury spending has reduced U so some common sense is kicking into the bulod do community so just don't don't label us like like you know being like frivolous like we are a community we are learning from whatever we did like previously and then yeah so this is the situation right now with treasury spending and we have this new Ledger app um on ethereum or or other chains you do like blind signing of the contract so that's the history uh with with like PKA do so you're able to exactly see like what transaction you're signing not only on padot but on all of its like parach chains so check out the new Ledger app uh improving the accessibility and also tying back to the previous um you know panel so we have polka. pay app um you know uh in in the works to to be released so this is primarily targeted to the US audience um yeah the idea is that giving this like one uh mobile app solution to do a lot of like PKA do um utility uh check it out when when it gets released later this year here and yeah so if you have any questions I and my team will be at the pka do Booth happy to bring a lot of people into the ecosystem for some reason if we pissed off previously people have changed in poot ecosystem happy to like you know uh restart the conversations thank you very much