What Is Polka Foundry (PKF)? Complete Guide Review About Polka Foundry.

What Is Polka Foundry (PKF)?

What Is Polka Foundry (PKF)?

Polka Foundry road map consists of 2 phases. In phase 1, the platform is developed using Tender mint engine. In phase 2, it is rebuilt using Substrate framework, levaraging the Polkadot ecosystem while utilizing the know how and innovative features of phase 1. They are in the process to migrate this documentation from phase 1 to phase 2. As a result, some parts are not up-to-date yet.

Current blockchains require users to use private keys directly to sign every transaction. This repetition task increases the risk of leaking private keys, which, once happens, will lead to catastrophic consequences. As a result, blockchain apps often request their users to perform many inconvenient steps that drastically damage UX.

Polka Foundry Storage Key Points

Coin BasicInformation
Coin NamePolka Foundry
Short NamePKF
Circulating Supply39,306,359.47 PKF
Total Supply200,000,000
Source CodeClick Here To View Source Code
ExplorersClick Here To View Explorers
Twitter PageClick Here To Visit Twitter Group
WhitepaperClick Here To View
Support24/7
Official Project WebsiteClick Here To Visit Project Website

Background

Blockchain is a useful and revolutionary technology which is getting a lot of attention in recent years. However, despite much anticipation, no significant blockchain adoption has been observed. Polka Foundry is designed to enable the first useful, accessible, and widely-adopted decentralized application (dApp). In the long run, it aims to be a viable decentralized alternative to cloud computing platforms.

The blockchain industry is yearning for the first “killer app” to validate this technology. Although plenty of block chains exist with billions of USD invested, such an application remains elusive. If can do that, it is a game-changer.

What is Polka Foundry?

Polka Foundry is a one-stop dApp factory providing interoperability with DeFi and Web 3.0 ecosystems by leveraging the Polkadot multi-chain blockchain. It’s optimized to tackle various real-world problems, especially those related to dapp UX, to the highest standard of practice and efficiency demanded from the non-stop technological industry nowadays. The platform consists of a public blockchain (the Polka blockchain) plus several dapp developer support services, including identity service (PolkaID), document storage service (Docu Guard), and Oracle service (Decentralized Gate).

Vision & Mission

Polka Foundry mission is to become the Polkadot ecosystem’s number-one one-stop DeFi production hub with all the tools, services, and features available for DeFi experiments, innovations, and real-world solutions. Your vision is to empower every person on earth with complete control and the freedom to utilize their valuable assets in a way that is digitalized, secure, and accessible.

Developers then could choose either centralized or decentralized technology, or a combination of both, depending solely on the value of application data and trustworthiness of relevant parties instead of the maturity and usability of the underlying technology.

UX-enabling features

To prevent central authorities from abusing, blockchain apps require users to keep long and forgettable private keys or mnemonic phrases. Once lost, they lose access to their accounts completely without any way to recover. The “I forgot password” feature is simply non-existed, and calling customer services doesn’t make any difference either. In practice, users often save their keys, in plain text, on some note-keeping programs. However, this action significantly increases the risk of their keys being stolen or eavesdropped on.

Thus, Polka Foundry is born to tackle this issue. It encrypts a user’s private key, splits it into parts, and safely stores it on multiple independent and secure key management services. This lifts the burden of keeping keys off users’ shoulder, while still preventing any single central authority from gaining access to the keys. Furthermore, recovery and 2-factor authentication are possible for PolkaID; and thus, on boarding and authentication will be much smoother with a password-less experience – using either a phone number, email, or social accounts to register.