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project icon for polkadot

PolkaDot

DOT
n/a

PolkaDot is a decentralized internet initiative led by Parity that aims to drive interoperability, scalability and general practical adoption of blockchain.

Overview

Project Stage

Testnet status icon

Amount Raised

$144,000,000.00

Market Cap

Sector

Information (Other)

Blockchain

Native token icon

Polkadot

Funding Source

Token Sale

Project Profile

Working towards a completely decentralized web, the Web3 Foundation has commissioned Parity Technologies to build the PolkaDot network, which intends to facilitate scalability and enable interoperability between blockchains. PolkaDot has licensed its protocol specification under Creative Commons and code under FLOSS. PolkaDot aims to tackle scalability issues presented in existing blockchains by decoupling the consensus mechanism from the state-transition mechanism. This would reduce the time to consensus, thereby increasing transaction capacity, by dropping the requirement that consensus be synchronous.

The genesis block launch of PolkaDot is expected in Q3 of 2019. PolkaDot plans to facilitate higher transactional throughputs and increased speed of processing through the use of multiple chains in parallel (hence the name ‘Parachains’), as opposed to the typical one-at-a-time (and so by each node) transaction processing of blockchain state mechanisms. Pooling security allows different chains to leverage each other’s effort expended towards consensus. In contrast, other projects run multiple PoW mechanisms independently, not collaborating nor benefiting from the computations contributing to the security of independent chains. A proof of concept recently went live on a testnet, focusing on coordinating consensus and transactions between chains.

Asset Details

The PolkaDot network’s native token, the DOT, will serve functions of governance, such as determining fee structures and participating in decision making around network updates, and will also be instrumental to Proof-of-Stake style consensus towards the operation and maintenance of the network. Participants can stake (bond) their DOT to nominated validators, whom ultimately facilitate cross-chain transactions via the Relay Chain. Creating a new Parachain will require tokens to be staked, acting as a measure of the importance of Parachains and discouraging their arbitrary growth in numbers. Of the 10 million DOTs created, half were purchased in the PolkaDot token sale and the remaining half will remain under the control of the Foundation.

project icon for polkadot

PolkaDot

DOT
n/a
PolkaDot is a decentralized internet initiative led by Parity that aims to drive interoperability, scalability and general practical adoption of blockchain.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Testnet status icon
Testnet
Native token icon

Polkadot

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$144MM

Information (Other)

Project Profile

Working towards a completely decentralized web, the Web3 Foundation has commissioned Parity Technologies to build the PolkaDot network, which intends to facilitate scalability and enable interoperability between blockchains. PolkaDot has licensed its protocol specification under Creative Commons and code under FLOSS. PolkaDot aims to tackle scalability issues presented in existing blockchains by decoupling the consensus mechanism from the state-transition mechanism. This would reduce the time to consensus, thereby increasing transaction capacity, by dropping the requirement that consensus be synchronous.

The genesis block launch of PolkaDot is expected in Q3 of 2019. PolkaDot plans to facilitate higher transactional throughputs and increased speed of processing through the use of multiple chains in parallel (hence the name ‘Parachains’), as opposed to the typical one-at-a-time (and so by each node) transaction processing of blockchain state mechanisms. Pooling security allows different chains to leverage each other’s effort expended towards consensus. In contrast, other projects run multiple PoW mechanisms independently, not collaborating nor benefiting from the computations contributing to the security of independent chains. A proof of concept recently went live on a testnet, focusing on coordinating consensus and transactions between chains.

Asset Details

The PolkaDot network’s native token, the DOT, will serve functions of governance, such as determining fee structures and participating in decision making around network updates, and will also be instrumental to Proof-of-Stake style consensus towards the operation and maintenance of the network. Participants can stake (bond) their DOT to nominated validators, whom ultimately facilitate cross-chain transactions via the Relay Chain. Creating a new Parachain will require tokens to be staked, acting as a measure of the importance of Parachains and discouraging their arbitrary growth in numbers. Of the 10 million DOTs created, half were purchased in the PolkaDot token sale and the remaining half will remain under the control of the Foundation.

Recent News

Polkadot launches 'Kusama' testnet, plans mainnet launch for late 2019.

In development for over two years following a $144 million ICO in late 2017, Polkadot is an interoperability framework among existing blockchains and future Polkadot 'parachains'. Kusama utilizes a Proof of Authority consensus mechanism and tests various functionality in Polkadot's on-chain governance design. One percent of all DOT tokens at genesis will be allocated according to Kusama token holdings.

August 25, 2019

Sources:

more

Polkadot to launch testnet in August, with existing DOT holders allocated testnet 'Kusama' tokens

July 17, 2019

Sources:

CoinDesk

Cross-chain messaging protocol Polkadot successfully closes token sale of 500,000 DOTs in the form of SAFT agreements, suggesting $1.2 billion valuation

June 27, 2019

Sources:

more
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project icon for polkadot

PolkaDot

DOT
n/a
PolkaDot is a decentralized internet initiative led by Parity that aims to drive interoperability, scalability and general practical adoption of blockchain.

Overview

STATUS

MARKET CAP

BLOCKCHAIN

TOKEN TYPE

Testnet status icon
Testnet
Native token icon

Polkadot

N/A

FUNDING SOURCE

AMOUNT RAISED

SECTOR

Token Sale

$144MM

Information (Other)

Project Profile

Working towards a completely decentralized web, the Web3 Foundation has commissioned Parity Technologies to build the PolkaDot network, which intends to facilitate scalability and enable interoperability between blockchains. PolkaDot has licensed its protocol specification under Creative Commons and code under FLOSS. PolkaDot aims to tackle scalability issues presented in existing blockchains by decoupling the consensus mechanism from the state-transition mechanism. This would reduce the time to consensus, thereby increasing transaction capacity, by dropping the requirement that consensus be synchronous.

The genesis block launch of PolkaDot is expected in Q3 of 2019. PolkaDot plans to facilitate higher transactional throughputs and increased speed of processing through the use of multiple chains in parallel (hence the name ‘Parachains’), as opposed to the typical one-at-a-time (and so by each node) transaction processing of blockchain state mechanisms. Pooling security allows different chains to leverage each other’s effort expended towards consensus. In contrast, other projects run multiple PoW mechanisms independently, not collaborating nor benefiting from the computations contributing to the security of independent chains. A proof of concept recently went live on a testnet, focusing on coordinating consensus and transactions between chains.

Asset Details

The PolkaDot network’s native token, the DOT, will serve functions of governance, such as determining fee structures and participating in decision making around network updates, and will also be instrumental to Proof-of-Stake style consensus towards the operation and maintenance of the network. Participants can stake (bond) their DOT to nominated validators, whom ultimately facilitate cross-chain transactions via the Relay Chain. Creating a new Parachain will require tokens to be staked, acting as a measure of the importance of Parachains and discouraging their arbitrary growth in numbers. Of the 10 million DOTs created, half were purchased in the PolkaDot token sale and the remaining half will remain under the control of the Foundation.

Recent News

Polkadot launches 'Kusama' testnet, plans mainnet launch for late 2019.

In development for over two years following a $144 million ICO in late 2017, Polkadot is an interoperability framework among existing blockchains and future Polkadot 'parachains'. Kusama utilizes a Proof of Authority consensus mechanism and tests various functionality in Polkadot's on-chain governance design. One percent of all DOT tokens at genesis will be allocated according to Kusama token holdings.

August 25, 2019

Sources:

more

Polkadot to launch testnet in August, with existing DOT holders allocated testnet 'Kusama' tokens

July 17, 2019

Sources:

CoinDesk

Cross-chain messaging protocol Polkadot successfully closes token sale of 500,000 DOTs in the form of SAFT agreements, suggesting $1.2 billion valuation

June 27, 2019

Sources:

more
Load More