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It's more than just one blockchain-- it's a network of networks designed to power all kinds of decentralized applications and services. Image source: Getty Images To comprehend Polkadot's capacity, it is essential to comprehend the fundamental architecture: The relay chain is the backbone that provides security for the whole network.

e. side chains) link to the relay chain, allowing cross-chain information transfer and improving transaction capability. Significantly, each parachain is its own blockchain, and can be designed for specific use cases like De, Fi services, file storage, social networking, gaming, and numerous others. Lastly, bridges allow parachains to connect to external networks like the Ethereum or bitcoin blockchain.

For instance, the presence of parachains makes the network more scalable than other blockchains. In reality, co-founder Gavin Wood believes Polkadot will support approximately one million transactions per second.  Check it Out  settles deals in just six seconds-- faster than bitcoin, Ethereum, and virtually all other crypto networks. To summarize, Polkadot's ability to incorporate with multiple blockchains (including external networks) implies that it will have utility no matter which cryptocurrencies gain mainstream adoption.

Square: The fintech platform In 2018, (NYSE: SQ) brought bitcoin to its Cash App platform, allowing consumers to buy, offer, and hold tokens. Because that time, the Cash App has seen extraordinary development. Metric 2017 2020 CAGR Money App Gross Earnings $47 million $1. 23 billion 197% Data source: Square SEC filings.

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That fast growth continued in the very first quarter of 2021 as Money App gross profit skyrocketed 171% year over year, reaching $495 million. But here's the secret: Bitcoin itself contributes really little to Square's bottom line. In truth, the gross margin on bitcoin earnings was simply 2. 1% in the same quarter.

As an outcome, Cash App's gross earnings per active customer is trending up. But this is only one half of Square's organization. The fintech company also offers software and hardware for sellers, helping them handle both physical and digital storefronts. Bitcoin has no effect on this segment, but growth has actually still been strong recently.