Blockchain
An explanation of the blockchain which Unit Network.
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.
At present Unit Network is in beta / test-net phase but will soon deploy as a parachain on the Polkadot relay chain.
Substrate enables developers to quickly and easily build future proof blockchains optimised for any use case.
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.
Last modified 8d ago