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What is Polkadot Substrate and the TOP Three Benefits of Substrate

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What is the Substrate?

Parity Technologies has condensed all its learnings from creating Bitcoin, Ethereum, and Polkadot clients into a development stack dubbed Substrate. The substrate app is a development framework that allows you to develop tools and blockchains with the least amount of effort. Some functions, like networking, consensus, and storage, are shared by all blockchains.

Top Three Benefits of Substrate:

  • Substrate lowers the threshold for building a blockchain. Any blockchain developed with Substrate will be natively interoperable with Polkadot, allowing you to connect into Polkadot as a para-chain when the mainnet launches. You have the option of designing your chain that is tailored to your specific application’s requirements. You will obtain Polkadot’s network effects by integrating your blockchain into Polkadot. You’ll also benefit from Polkadot’s pooled security, eliminating the need to build and incentivize a community to protect your blockchain.
  • Substrate makes it easy to plug in this functionality, allowing you to focus on the core of your application.
  • The substrate has several advantages over other blockchain development kits, including the ability to change your runtime without a hard fork. Your runtime is a Wasm binary stored on-chain and may be changed using your chain’s governance mechanism. You may alter your runtime (application logic) without a fork as long as your fundamental layer (networking, consensus, synchronization) remains constant. Furthermore, you may build the blockchain logic in any language that can compile to WebAssembly (Rust, C/C++, C#, Go, and so on).

What is the use of Substrate?

The requirement for various blockchain functionality for different use cases is reflected in the diversity of contemporary apps. Because establishing a blockchain from scratch was so laborious, general-purpose blockchains were beneficial because apps on a single chain could communicate with one other. On the other hand, the one-blockchain model compelled every application to work within the constraints of the underlying chain. Upgrades to the chain and on-chain apps became practically impossible as a result.

Substrate and Polkadot provide apps the freedom to create their blockchain while also using a general-purpose framework’s infrastructure and interoperability. Like Cosmos and Aion, many groups have been working hard to develop blockchain SDKs and enable interchain token transfers. While token transfers are helpful, Substrate and Polkadot were designed to allow for arbitrary message forwarding. This paves the way for any Web3 application to succeed.

Web3 Communication Development:

By connecting your chain into Polkadot’s pooled security paradigm, your chain may send arbitrary messages to other chains and protect your blockchain. No additional interoperability platform will support this as of yet. The following are some examples of arbitrary data interoperability:

Oracle services that connect real-world data to the blockchain Identity management system that connects user identities across various apps

Escrow and decentralized exchange order books

IoT networks receive messages from other networks or controllers.

Calls to cross-chain smart contracts

Messages are sent back and forth between private and public chains.

Substrate’s included tools:

When you use Substrate to create your blockchain, you’ll obtain the following tools. This infrastructure consists of the following elements:

  • Polkadot Telemetry Service — network information including what nodes are running your chain, what software versions they are running, and sync status.
  • Polkadot JS’ Substrate and Polkadot UI — built with React.js and RxJS. API docs and examples available.
  • Substrate UI — built with the Bonds oo7 library. API Docs available.
  • Polkadash — validator monitor.
  • Polkabot — network monitoring and reporting.
  • Polkascan — blockchain data explorer and analytics.

Substrate is a great place to start building your app:

You may start creating your chain with Substrate, whether you want to build a parachain for the Polkadot network or you just want the most easy approach to design your blockchain solution. To begin started, here are some resources:

  • Developer Hub & Documentation
  • Substrate Collectables tutorial
  • Building a TCR on Substrate
  • Build a Proof of Existence Blockchain with Substrate
  • ERC721 Implementation on Substrate
  • Build and maintain a Substrate runtime events based off-chain storage using the Substrate Events listener
  • How to deploy a Polkadot Parachain on the Polkadot testnet

Tel Aviv-born, an entrepreneur, CEO, manager, and marketing strategist. I have been working for some leading publications like Datafloq, Blogher, Engadget, Medium and other publication.

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