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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 Rococo test environment for interoperable parachains.

Polkadot has launched a testnet for the protocol’s first parachain specification, the project announced Thursday. Rococo is the first test of PolkaDot’s Relay Chain logic for inter-blockchain communication. On this testnet, users will be able to register blockchains based on the Substrate building kit. The network intends to have three operation parachains using Proof-of-Authority consensus and will be governed by Polkadot.

August 7, 2020

Sources:

CoinDesk

Polkadot raises $43 million in private token sale.

In its third tokens sale, which concluded yesterday, smart contract platform PolkaDot raised $48M from private investors. The project reportedly sold its native DOT tokens for $125 each. PolkDot previously raised $145M in a 2017 token sale—a large portion of which later became permanently inaccessible due to a security breach—and an undisclosed amount in a 2019 token sale.

July 28, 2020

Sources:

more

Web3 Foundation launches the Polkadot network.

The Web3 Foundation launched the Polkadot network on Tuesday. For the network’s initial stage, which has now been initiated with the launch, the Foundation will have “superuser control” allowing it to make changes, conduct security audits and execute logic with the assistance of Parity Technologies, while general functionality is limited to staking as well as claims and attestation. The quasi-test network Kusama will continue to function so long as the Polakdot community deems necessary according to the post.

May 27, 2020

Sources:

CoinDesk,Polkadot
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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 Rococo test environment for interoperable parachains.

Polkadot has launched a testnet for the protocol’s first parachain specification, the project announced Thursday. Rococo is the first test of PolkaDot’s Relay Chain logic for inter-blockchain communication. On this testnet, users will be able to register blockchains based on the Substrate building kit. The network intends to have three operation parachains using Proof-of-Authority consensus and will be governed by Polkadot.

August 7, 2020

Sources:

CoinDesk

Polkadot raises $43 million in private token sale.

In its third tokens sale, which concluded yesterday, smart contract platform PolkaDot raised $48M from private investors. The project reportedly sold its native DOT tokens for $125 each. PolkDot previously raised $145M in a 2017 token sale—a large portion of which later became permanently inaccessible due to a security breach—and an undisclosed amount in a 2019 token sale.

July 28, 2020

Sources:

more

Web3 Foundation launches the Polkadot network.

The Web3 Foundation launched the Polkadot network on Tuesday. For the network’s initial stage, which has now been initiated with the launch, the Foundation will have “superuser control” allowing it to make changes, conduct security audits and execute logic with the assistance of Parity Technologies, while general functionality is limited to staking as well as claims and attestation. The quasi-test network Kusama will continue to function so long as the Polakdot community deems necessary according to the post.

May 27, 2020

Sources:

CoinDesk,Polkadot
Load More