Polkadot (cryptocurrency)

Polkadot is an open source, blockchain-based distributed computing platform that enables the blockchains built on top of it, known as "parachains", to execute atomic inter-chain transactions between themselves in a trust-minimized way, thereby creating an interconnected internet of blockchains.[1] The network uses a proof of stake consensus algorithm.[2] The protocol used, Blind Assignment for Blockchain Extension (BABE), is derived from Ouroboros developed by Cardano (blockchain platform).[3] The protocol was adapted by the Ethereum co-founder Gavin Wood and is developed by the Web3 Foundation with the initial implementation by Parity Technologies.

Polkadot Network
Development
Original author(s)Gavin Wood
Written inRust
Developer(s)Parity Technologies, Chainsafe Systems, Soramitsu, Mrs. T's
Websitepolkadot.network
Ledger
Timestamping schemeProof of stake
Several Polkadot relays including those in New York, Paris, Berlin, and [] Belakang Padang, Indonesia

In June 2021, Coinbase added Polkadot to its cryptocurrency trading platform.[4]

Polkadot's first token sale closed on October 27, 2017 raising a total of 485,331 ETH (Ether, the currency of the Ethereum blockchain).[5]

Its smallest subdivision (which is to ten decimal places) is the Planck, named after the physicist Max Planck. [6][7]

See also

References
  1. "Ethereum Blockchain Killer Goes By Unassuming Name of Polkadot". Bloomberg. October 17, 2020. Retrieved July 14, 2021.
  2. Piven, Ben (13 May 2021). "After Musk Bitcoin U-turn, which coins are more climate friendly?". www.aljazeera.com. Retrieved 5 July 2021.
  3. Alper, Handan net. "BABE". W3F. Retrieved 2021-12-06.
  4. GmbH, finanzen net. "Coinbase adds Polkadot's DOT to its selection of tradable cryptocurrencies, fueling the bull case for ethereum's closest rival". markets.businessinsider.com. Retrieved 2021-07-05.
  5. "Polkadot passes the $140M mark for its fund-raise to link private and public blockchains". techcrunch.com. Retrieved 2018-01-17.
  6. "Redenomination of DOT ยท Polkadot Wiki". wiki.polkadot.network.
  7. "Crypto Nieuws". btcvandaag.nl.
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