collators to make sure that the Parachain transactions are

trustworthy.

Nominators nominate and vote for the validators by bonding

their stakes to the validator. The selected validators can validate

blocks, and in return, the validator pays the nominators with

rewards.

Collators are the nodes that collect the transactions on the

Parachains, produce proofs, and pass on to the Relay chain.

10.1.1 Parachain Slots

The maintenance of Parachains need cost and effort. Hence, to start

with, Polkadot has a limited number of Parachain slots that can grow

with time. These slots can be reserved by the Parachains through

auctions.

The existing Blockchains such as Ethereum, Bitcoin, Cardano,

Tezos, Solana, ZCash etc., can become Parachains to the Polkadot

Blockchain’s relay chain or main chain.

10.2 Transaction fees

In Polkadot, the transaction fees are only for the Relay Chain or the

main Blockchain network. It is calculated with an algorithm that

depends on the Weight fee or time required to validate a transaction

and the tips or an optional fee that the users may add, just to run the

transaction with a higher priority.

10.3 L2 Solutions

Polkadot cannot be termed as a simple L2 solution; rather, it’s a

multichain architecture that can work on a parallel technology with a

combination of parallel chains as well as sharding. It has gathered

more success in recent times.

10.4 Scalability and Performance

Polkadot’s sharding protocols help in easy cross-chain message

transfer between Parachains. The architecture enables to process a