What is Polkadot?
Polkadot is a platform that allows for the creation of parachains, which are blockchains that can be connected to the Polkadot network. Parachains can be created by anyone and have their own governance model, consensus mechanism, and tokens. The Polkadot team has created three different types of parachains: public, consortium, and private (for enterprise). The Polkadot network itself will use Proof-of-Stake, but the parachains can use whatever consensus mechanism they choose. The goal is to create a system where every blockchain has its own governance and can interact with each other in a way that’s beneficial for all parties involved.