Unit Network is a decentralised, web-based application and layer 1 blockchain built using the Substrate framework developed by Polkadot and Parity Technologies. This means Unit Network and it's blockchain the UnitChain are sovereign and do not rely on the exisiting layer 1 protocols like Ethereum, Solana and Cosmos to operate. We've built our own blockchain to specifically suit the purposes of Unit Network and the token economy.
Unit Network embraces the tenets of neutrality and trust minimisation by offering a decentralised Web3 application accessible to anyone in the world. An economic infrastructure for the creation and management of DAOs and soon the mainstream adoption of the token economy.
As Ethereum’s co-founder and first CTO, Gavin Wood developed the Ethereum network and created the smart-contract language, Solidity. While groundbreaking at the time, it soon became apparent that Ethereum’s “all-purpose” nature imposed hard constraints on developers—from high gas fees to a lack of core upgradeability. Blockchain frameworks that try to do everything on a single chain are fundamentally constrained by generalist design choices and force developers to hack clunky workarounds rather than build specialized solutions.
In order to push the boundaries of blockchain technology, Gavin left the Ethereum Foundation and started Parity, which implemented the fastest Ethereum client at the time. In the early days of Parity, the team also built a Bitcoin and ZCash client before moving on to spearhead Polkadot. It’s only from all this deep industry experience that blockchains could be reimagined from the ground up. This led to the creation of Substrate, an open source and future proof framework that powers a multichain, interoperable, and decentralised internet.
Polkadot unites and secures a growing ecosystem of specialised blockchains called Parachains. Apps and services on Polkadot can securely communicate across chains, forming the basis for a truly interoperable decentralised web.
- True interoperabilityPolkadot enables cross-blockchain transfers of any type of data or asset, not just tokens. Connecting to Polkadot gives you the ability to interoperate with a wide variety of blockchains in the Polkadot network.
- Economic & transactional scalabilityPolkadot provides unprecedented economic scalability by enabling a common set of validators to secure multiple blockchains. Polkadot provides transactional scalability by spreading transactions across multiple parallel blockchains.
- Easy blockchain innovationCreate a custom blockchain in minutes using the Substrate framework. Connect your chain to Polkadot and get interoperability and security from day one. This ease of development helps Polkadot's network grow.
- High energy efficiencyPolkadot consumes a small fraction of the energy used by conventional blockchains thanks to its next-generation nominated proof-of-stake (NPoS) model. Using the equivalent of ~6.6 US households worth of energy per year, Polkadot has the lowest carbon footprint among proof-of-stake protocols analysed in recent research.
- Security for everyonePolkadot's novel data availability and validity scheme allows chains to interact with each other in a meaningful way. Chains remain independent in their governance, but united in their security.
- User-driven governancePolkadot has a sophisticated governance system where all stakeholders have a voice. Network upgrades are coordinated on-chain and enacted autonomously and without forking the network, ensuring that Polkadot’s development remains future-proof and community-driven.