Polkadot: the platform is now online
Polkadot: the platform is now online
Blockchain

Polkadot: the platform is now online

By Alfredo de Candia - 27 May 2020

Chevron down

Polkadot officially announced that it has gone online with its platform.

The beginning of the development of Polkadot dates back to 2016 and was strongly supported by the founder of the Web3 Foundation, Gavin Wood, co-founder and CTO of Ethereum, who followed the development of the project together with Jutta Steiner, CEO of Parity Technologies.

Polkadot against the maximalists

Polkadot is the biggest bet against maximalists, said Gavin Wood:

“Polkadot is, in many respects, the biggest bet in this ecosystem against chain maximalism. Even if there were one perfect chain, I don’t think it would stay perfect for very long. I would argue that it’s really not such a good plan to be so focused on backing one winner above all others”.

With the launch of the network, for the time being in the hands of the Web3 Foundation that owns the nodes and validates the blocks, investors who own DOT tokens may later become validators themselves or appoint other validators, but will not be able to transfer their tokens.

This also affects the governance of the project, which until now could be defined as being too centralized.

The latest news concerning Polkadot

Polkadot ran a private sale in which they sold 5 million tokens, raising over $140 million.

Recently there was also the announcement of the integration with Chainlink (LINK) and Coinbase Custody thanks to Bison Trails, hence it’s a project that is making progress and is now finally live.

This launch will also provide the Ethereum community with the opportunity to see how a system of shards and parallel chains can be used to increase scalability and interoperability. In fact, this launch could also be complementary to the Ethereum blockchain and improve its scalability.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

We use cookies to make sure you can have the best experience on our site. If you continue to use this site we will assume that you are happy with it.