Polkadot Chief Promises Freedom From Ethereum’s ‘Economic Enslavement’

Posted on by American Coins & Gold

Polkadot Chief Promises Freedom From Ethereum’s ‘Economic Enslavement’
The completion of the first Polkadot parachain auction was occasion for its creator, Gavin Wood, to herald a newfound freedom from the economic constraints of Ethereum smart contracts.Wood, a co-founder of Ethereum who helped develop the smart contract programming language Solidity, said Polkadot’s economic lease-holding model for parachains (literally, parallelized chains) is exactly why users don’t need to buy a platform token, or need to know anything about the framework’s overarching native token, DOT.It’s a model that stands in stark contrast to Ethereum and most of Ethereum’s competitors, according to Wood.“The users of applications that are built on Ethereum are…