TLDR

• Polkadot seeks to enable arbitrarily different parachains to interoperate in a trustless way through shared security. Parachains do not need to bootstrap their own validator set.
• To become a parachain, a project must win a parachain auction which acts as a gatekeeper of quality. It can then avail of the shared security and interoperability of the Polkadot network. The current limit is 100 parachains, which could have greater capacity than the entire industry today if they were at full capacity and demand.
• The Substrate SDK enables high customization and upgradeability. This is important for optimizing and future-proofing designs for high-performance app-specific blockchains.
• At present, Polkadot lags far behind Cosmos in...