What is Polkadot?
Polkadot is a web protocol that provides optional data—not simply tokens—to be transferred over blockchains. The Polkadot project enables various block systems to communicate safely and to receive messages among themselves. DOT can transfer data both over public, accessible, permissionless blockchains and personal consented blockchains. The protocol was developed by Ethereum cryptocurrency co-founder Gavin Wood and raised $144.3 million during the Initial Token Offer held in October 2017. DOT is under the control of the Swiss Web3 Foundation, which aims to create the conditions and promote the evolution of technologies and applications in the field of decentralized web-based software protocols. The protocol was designed as a scalable complex multi-chained technology. The connection of dots includes relay chain (responsible for the security and cross-chain interoperability), parachains, parathreads and bridges. Unlike earlier blockchain implementations, which focused on creating a single chain, Polkadot is creating a basic relay network from which numerous verifiable and globally connected effective data structures can be formed.