In the rapidly evolving landscape of blockchains, choosing the right technology stack to build a high-tech blockchain is crucial. The problem with the old generations of blockchains is that they highly depend on their own economical and technological guarantees behind their own consensus mechanism. Moreover, these blockchains can only evolve over time with hard forks, which are highly resource-intensive and very slow to organize. Not to mention the fact that the old versions of blockchains are outdated in terms of on-chain governance.
These shortcomings in the old versions of blockchains led us to choose the Polkadot Network and its technology, Substrate. Only Polkadot’s technology can offer high-level customization features, shared security, fast and safe interoperability between chains, forkless runtime upgrades, light-client support, and built-in DAO features.
Let’s take a look at all these:
Polkadot as a Layer 0 chain, guaranteeing Shared Security for all the connected Layer 1 blockchains, the Parachains
Today, the Polkadot Network is the only blockchain that can increase the security of other Layer 1 blockchains and provide them instant and secure token transfers between them. Polkadot can provide these essential functions through its shared security model, where all data flows between individual blockchains are monitored by Polkadot’s validators and intervened if necessary. This ensures continuous monitoring and protection of the connected blockchains. This is why Polkadot is actually called Layer 0, because it can coordinate and secure other Layer 1 blockchains, which we call Parachains (Parallelized blockchains) in Polkadot’s terminology.
After the Mosaic blockchain successfully connects to the Polkadot Relay Chain, Mosaic’s and Polkadot’s consensus mechanisms will be melded, which technically means that Mosaic will be secured by Polkadot. Then Mosaic will be one of the Parachains of Polkadot, as Mosaic will run side by side with Polkadot simultaneously.
Polkadot can scale by design, via Parachains
Polkadot has the most advanced scaling solution in the blockchain industry. All the Parachains connected to Polkadot effectively become shards of it. So, in this case, Mosaic does not have to worry about scalability issues because Mosaic becomes one of the shards of Polkadot once it becomes a Parachain (Mosaic must participate in a Parachain Slot auction to gain a connection to Polkadot).
Since Polkadot has several Parachains connected to it, they are not left to validate alone. Polkadot helps them: every block of the Parachains (Parablocks) is finalized by Polkadot in the end. Therefore, every small state change on the sides of the Parachains is checked by Polkadot. Some transactions are validated by the Parachain validators and some by Polkadot validators. This approach technically spreads the execution of transactions across multiple blockchains, making the entire Polkadot ecosystem unable to be overloaded, including Mosaic. In conclusion, the scaling of a blockchain is based on Polkadot’s unique architecture, which is why we are committed to Polkadot.
Trustless token transfers across blockchains, thanks to XCM
We all know how difficult and dangerous it is to bridge assets from chain A to chain B. These bridge technologies often rely on unreliable people who are controlling the private keys of the crypto addresses behind the bridge and have inadequate technological backgrounds with low economic security. More than 2 billion USD worth of cryptocurrency was stolen by hackers in 2022, and these vulnerabilities in bridges have not been fully addressed to date.
Only Polkadot’s other advanced technology, the so-called Cross-Consensus Messaging (XCM), can solve the interoperability issues in a completely trustless and secure way in the blockchain industry. The most compelling reason we chose Polkadot as our core infrastructure is XCM. With XCM, our blockchain can send and receive crypto assets from other blockchains securely and quickly. That’s not all: XCM provides us with a high level of flexibility and efficient programmability, allowing us to fully configure the applications running on the Mosaic blockchain without having to conform to other blockchain standards.
Agile and easy blockchain upgrades without hard forks
Considering blockchains as unique distributed software, we might rightly think that these blockchains should be updated at certain intervals, just like traditional software, to keep them up-to-date. These occasions to update blockchains are called hard forks and have disadvantages in many ways.
When a blockchain network is upgraded via hard fork, what effectively happens is that all validator operators maintaining the blockchain have to download new software to the validator’s hardware. After the successful upgrade, the blockchain will operate with the new software’s logic, not based on the old software’s logic. Now, operation can only be done with great difficulty and effort. Hence, updates via hard forks are not very agile, require a lot of off-chain coordination, and are also slow and dangerous, as transactions can be compromised during a hard fork. Not to mention that hard forks can split the community, not just the blockchain.
Polkadot’s approach is quite the opposite: it is seamless, fast, and does not require off-chain coordination between the operators of the validators. Polkadot and all the other Substrate-based chains are using a novel, industry-leading blockchain upgrading technology: Forkless Runtime Upgrades. Instead of placing the software that contains the blockchain’s operational logic in the validators, they integrated it into the blockchain itself. So validators approve blocks according to the logic (runtime) of the blockchain, not according to the logic of the software downloaded to their hardware. This solution allows Mosaic to keep up to date with runtime upgrades similar to Polkadot.
On-chain user-driven governance as DAOs
Another very promising feature of Polkadot is that while it offers a highly scalable environment with shared security and safe multi-chain token transfers, it also gives them full sovereignty over on-chain governance. One of the biggest advantages of blockchains is that they are not controlled by world powers or large corporations, but by the holders of the tokens, in other words: the Community behind the blockchain rules the chain and dictates its future.
In this manner, Mosaic is a DAO right out of the box! With Mosaic tokens, you can vote on referendums and forkless runtime upgrades to allow the Mosaic blockchain to evolve and adapt over time. Mosaic tokens don’t just exist to pay transaction fees on the blockchain; they also exist to shape the future of the Mosaic blockchain with community-driven governance. Don’t forget that your voice on the Mosaic blockchain is your Mosaic tokens, and you should use them to govern and show the right way for the community.
Liquidity and users
Polkadot is the advanced multichain ecosystem in the industry, and it only just launched in 2020. Parachains connected to Polkadot will be launched in 2021, and XCM technology, which is connecting the Parachains with each other, will not be launched until 2022.
So, we can say that the ecosystem has only started to work coherently in 2022-2023, which is why we expect Polkadot to grow in strength on a large scale in the coming years. Technologically very advanced and with strong traits, the ecosystem has liquidity issues, which Mosaic can address.
