Polkadot
What is Polkadot?
Polkadot is a next-generation protocol that works as a connector for multiple specialized Blockchains in a single network. Polkadot builds on the revolutionary promise of previous Blockchain networks, a network that returns control to individuals over internet monopolies.
More than 100 projects were built, are being built and will continue to be built for the Polkadot ecosystem. It has the basic technical infrastructure up to DeFi applications, privacy-oriented data, digital identity systems (self-sovereign identities), social networks, IoT, gaming, robotics and supply chain logistics.
In June 2021, Polkadot was added to Coinbase as a business platform, trading platform.
Polkadot Price
Polkadot Profile
Polkadot Basic Fact Sheet
| Denomination | |
|---|---|
| Ticker | DOT |
| Precision | 10−10 |
| Planck | |
| Development | |
| Developer / s | Gavin Wood |
| White paper | «Polkadot: vision for a heterogeneous multi-chain framework draft» |
| Release date | 0.5.2 / |
| Last update | Polkadot v0.8.28 – February 1/9, 2021 (8 months and 19 days) |
| Repository | https://github.com/paritytech/polkadot |
| State | Active |
| Written in | Rust |
| Website | polkadot.network |
| Technical part | |
| Ledger start | May 26, 2020 (1 year, 5 months and 2 days) |
| timestamping scheme | Nominated Proof of Stake (NPoS) |
| Hash | Blake2b |
| Block time | 6/2 1 |
| Block explorer | polkascan.io |
| Mass in circulation | DOT 967,028,449 |
| Emission limit | DOT 1,047,977,582 |
| Valorization | |
| Exchange rate | $35.24 |
| Capitalization | $34,018,244,108 |
Founders of Polkadot
It is founded by three of the leading developers in the Blockchain arena. First, we meet Robert Habermeier, a partner at Thiel and a longtime member of the Rust community, experienced in research and development of bock chains, distributed systems, and cryptography.
Second, we meet Dr. Gavin Wood, who started his journey as a developer in blockchain technology as a co-founder and CTO of Ethereum. He invented some of the fundamental tools in the industry, such as Solidity, Consensus Proof of Authority, and Whisper. He is the president of the Web3 Foundation.
Lastly, Peter Czaban is the Director of Technology for the Web3 Foundation. He has a Master of Engineering from the University of Oxford. I work in defense, finance, and data analytics industries, as well as mesh networking, distributed knowledge bases, quantitative pricing models, machine learning, and business development.
You have heard the phrase that the pen is mightier than the sword. Well, the keyboard is going to be even more powerful than the pen very soon. The world, in a sense, belongs to the programmers. ‘ Gavin Wood, Co-Founder of Polkadot
Who is developing Polkadot?
It is the first and main project of the Web3 Foundation, a Swiss foundation created to facilitate the operation of a decentralized website.
The Web3 Foundation is partnering with the best institutions to continue to develop and improve Polkadot and encourage its use.
It is working alongside researchers from Irina Paris and ETH Zurich, developers from Parity Technologies and equity partners of funds such as Polychain Capital, to generate a superlative realization of Web3 with Polkadot as the central object.
Polkadot Advantages
- Scaling, being a fragmented multi-chain network, Polkadot can process many transactions on several chains in parallel. This throughput improves scalability. Fragmented chains are called “parachains”.
- Specialize, each chain within the multi-chain network has a unique design optimized for specific uses.
- Working together, Polkadot networks and applications can share information and functionality. Polkadot offers interoperability and communication, called “cross-chain”.
- Governance autonomy, Polkadot communities can govern their network as they see fit, and have a transparent stake in the future of Polkadot network governance. Teams can customize their Blockchain according to their needs, experiment with new ideas, etc.
- Easy to upgrade, Polkadot allows forks-free upgrades, allowing Blockchains to evolve and adapt more quickly as better technology becomes available.
Polkadot on Social Networks
Polkadot on Twitter
Polkadot on Reddit
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