It’s not a secret that in China, Polkadot resembles a newer, better EOS, the public blockchain that swept the Chinese crypto ecosystem in 2018.
Both projects have inspiring foreign—in particular Caucasian leaders—who frequent China’s blockchain conferences and cocktail parties. (I don't want to sound racist but the fact that they are white plays a huge role. Some Chinese ponzi scams have actually hired white actors during their roadshows to fool retail buyers.)
EOS and Polkadot are backed by Chinese capitalists, who spread the Ethereum-killer narrative whenever they can on crypto Wechat. These capitalists, especially exchanges such as Binance, Huobi, and MXC, come with a war chest of funds to lure entrepreneurs to the Polkadot ecosystem. Both projects have attracted strong interest from Chinese retailers but somehow are far lesser-known abroad.
Despite the two projects’ perceived similarities, Polkadot has developed its own narrative and community. This week’s da bing examines the rise of Polkadot and how that reflects the state of crypto in China.
More info:
https://decrypt.co/55163/polkadot-china-hottest-crypto?amp=1