Polkadot is a decentralized network of blockchains that emphasizes interoperability and scalability. Interoperability is the ability for different systems to communicate and function together. Polkadot is designed to connect private and public blockchains, oracles, and future technologies that have not yet been created. This is done with so-called parachains, or parallel blockchains, that work alongside its main chain called the "Relay chain". In short, it is a platform that allows blockchains to transfer value and data between each other in a reliable manner. Therefore, Polkadot is often said to enable "multichain" technology. Polkadot employs Nominated Proof of Stake (NPoS), which combines elements of Proof of Stake (PoS) and a nomination process to achieve high levels of security and governance.
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