Polkadot is a multi-chain platform that allows different blockchains to interoperate in a shared security model.
Polkadot is a multi-chain platform that facilitates the transfer of any type of data or asset across different blockchains. It was created by Ethereum co-founder Gavin Wood and is built to enable a decentralized internet where users control their own data. The Polkadot network operates with a series of "parachains" (parallel blockchains) that run in parallel within the Polkadot ecosystem, each of which can be customized for a specific use case. The native token of the Polkadot network is called DOT and is used for governance, staking, and bonding on the platform.
For instance, a project could create a parachain on Polkadot that is specifically designed for processing high-speed financial transactions, while another parachain could be created to handle slower but more data-intensive tasks.