Polkadot (DOT)

ICO

IEO

Last updated: Jul 08, 2023

Polkadot is a platform that allows diverse blockchains to transfer messages, including value, in a trust-free fashion; sharing their unique features while pooling their security. In brief, Polkadot is a scalable, heterogeneous, multi-chain technology.

IMPORTANT: By investing in this business you agree to ourDisclaimer. All information including our rating, is provided merely for informational purposes. CryptoTotem does not provide investment advice.

Overview

Project industry	Blockchain Infrastructure / Polkadot Ecosystem
Product type	Platform
Founded	Switzerland
Whitepaper	Open
Onepager	Open

Technical details

Polkadot achieves low-level consensus over a set of mutually agreed valid blocks through a modern asynchronous Byzantine faulttolerant (BFT) algorithm.

What is Polkadot

Polkadot is a next-generation blockchain protocol that unites an entire network of purpose-built blockchains, allowing them to operate seamlessly together at scale. Because Polkadot allows any type of data to be sent between any type of blockchain, it unlocks a wide range of real-world use cases.

By bringing together the best features from multiple specialized blockchains, Polkadot paves the way for new decentralized marketplaces to emerge, offering fairer ways to access services through a variety of apps and providers.

While blockchains have demonstrated great promise in several fields—Internet of Things (IoT), finance, governance, identity management, web decentralization, and asset-tracking to name a few—design limitations in previous systems have largely hindered large-scale adoption.

Polkadot’s design offers several distinct advantages over existing and legacy networks, including heterogeneous sharding, scalability, upgradeability, transparent governance and cross-chain composability.

THIS IS BLOCKCHAIN UNBOUNDED

Details

Public sales: Oct 15, 2017 - Oct 27, 2017
IEO (BW Launchpad): Jul 21, 2020 - Jul 22, 2020
Token supply: 533,145,000 DOT
Total tokens for sale: 100,000,000 DOT
Raised: 145,000,000 USD

Legal

Blockchain Platform: Ethereum

Office address: Reiffergässli 4 6300 Zug Switzerland

Token info

Ticker: DOT
Type: Utility-token
Token standard: ERC20
Accepted currencies: ETH

Polkadot Roadmap

PoA

Web3 Foundation will launch Polkadot in Proof of Authority mode. During this time, most users will be able to:

Claim tokens from their Ethereum contract,

Stake tokens and declare their intent to validate or nominate.

Validators will also be able to set their Session keys in preparation for Proof of Stake, and Web3 Foundation will be able to use the Sudo key to manage the chain and enable more features.

NPoS

During Nominated Proof of Stake, the network will run with a decentralized set of validators. During this phase, Web3 Foundation will use Sudo to increase the number of validators in the set.

Governance

With Polkadot's governance system enabled, it can elect the first Council and Technical Committee and start accepting public proposals. While the Sudo key might still be needed for a few operations, governance can take over most of the chain's decisions.

Remove Sudo

Polkadot runs without the Sudo module. Root calls will only be dispatchable via governance.

Enable Balance Transfers

Polkadot allows balance transfers.

Enable Core Functionality

Once governance enables parachain auctions and XCMP, Polkadot will have a fully functional Relay Chain. Where it goes from here is up to the token holders.