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Project Features
Polkadot, the world's best cross-chain project, is the leader of Gavin Wood, the invisible brain of Taifang. Gavin Wood is the author of the Ethereum Technology Yellow Book, the founder of Partiy.
Polkadaot is known as Blockchain 3.0, which aims to connect existing independent blockchains so that communication and data can be transmitted between different blockchains, which is the cornerstone of the next generation of value Internet.
Polkadot is a low-threshold platform, and flexible autonomous economies work together in the shared security umbrella of Polkadot. Polkadot is a revolution not only in blockchain technology, but also in achieving fairer peer-to-peer digital jurisdictions.
Polkadot addresses the main issues facing blockchain technology:
True interoperability
Polkadot supports the transfer of any type of data or assets across a blockchain, not just tokens. Connecting to Polkadot enables interoperability with various blockchains in the Polkadot network.
Scalability
Polkadot provides unprecedented transaction scalability by enabling a common set of universally protected blockchain security certifiers. Polkadot uses multiple parallel chains to spread transactions.
Easy blockchain innovation
Use the blockchain build framework Substrate to create a blockchain in minutes. Connect it to Polkadot for interoperability and security from day one. This ease of development helps Polkadot's network grow.
No fork and future
Polkadot aims to be a truly resilient network: it adapts and upgrades itself without forking. This allows Polkadot to easily adapt to changes and upgrade itself as better technology becomes available.
High security performance
Polkadot introduces “shared security”, in which the parallel chain is secured by Polkadot's certifier. The blockchain that accesses polkadot is safe from day one. When they connected to Polkadot, this gave them a strong incentive to access the Polkadot network.
Community autonomy
Polkadot has an open governance system. Coordinating network upgrades through chain governance ensures that the development of Polkadot reflects the value of the community and avoids stagnation.
Among them, 5 million DOTs were auctioned in October 2017 and auctioned in the form of Dutch auctions, and completed the financing of 480,000 ETHs, including well-known venture capital institutions such as Bosst VC, Pantera Capital and Polychain Capital.
Another 2 million DOTs are distributed in front of the main online line according to the official website. In April 2019, Polkadot opened a second round of private placement financing with a financing of $50 million and a sale of 500,000 DOT. The remaining 1.5 million DOTs (15%) will be eco-rewarded to developers, partners or follow-up sales budgets.
And 3 million DOTs (30%) will be held by the Web3 Foundation.
DOT tokens have four different uses: autonomy, operations, fees and pledges.
autonomy
DOT holders control the future of Polkadot, and DOT will provide all privileges to the relay chain participants (DOT holders), including special events such as management protocol upgrades and fixes. All permissions on other platforms are unique to miners.
Operation
Game theory motivates DOT holders to act in an honest manner. Good characters will be rewarded by this mechanism, and bad characters will lose their interest in the network. This ensures that the network remains secure.
Handling fee
For messages to be passed from one blockchain to the next, the sender will pay the DOT as a fee to the verifier who transmitted the message.
Pledge
If you add a parallel chain, you need to mortgage a certain DOT. A mortgaged DOT can remove obsolete or useless parallel chains. This is a form of Po.
e built around QT to create a new and leading ecosystem in the digital currency industry.
Token Status and Distribution
Website：https://polkadot.network
Whitepaper: https://polkadot.network/PolkaDotPaper.pdf
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