Polkadot ICO team and progress information
The Polkadot ICO project is being managed by Parity Technologies Ltd., one of several blockchain development companies founded by Gavin Wood. The company was established in 2015 after leaving Ethereum as a CTO, where he worked on the project's core technology between 2013 and 2014. He co-founded this crypto start-up alongside Jutta Steiner, who took over the role as a CEO.
Parity Technologies Ltd. may be relatively new when compared to other blockchain development companies. Still, it's already working on several projects in addition to Polkadot ICO, including web wallets, Light Client protocol, and multi-signature wallets.
The company offers support for those unfamiliar with blockchain technology and how it may apply to specific industries or sectors within the global economy. One thing that surprised us about this particular project was the lack of information regarding its advisory board.
While some crypto start-ups include members of various advisory boards with different backgrounds, so they're more knowledgeable about their project, Polkadot ICO has only listed Gavin Wood as an advisor. This may signal that the team is confident they have enough experience working within the blockchain industry to achieve their objectives on time and reach all main goals.
Airdrop Tokens with Bitcoin & Ethereum
Polkadot ICO is a project that aims to improve blockchain technology by developing an advanced cryptocurrency. Please find out how you can participate in Polkadot ICO's token sale and get more information on its price, development goals, plans, and team.
Polkadot ICO background information
The Polkadot ICO is a platform for a network of diverse chains that can interact through the relay chain structure. Once you buy polkadot transactions made by users are done through the relay chain before these get recorded into each relevant blockchain.
In addition, the relay chains will act as bridges between different chains by synchronizing them, so they're all updated simultaneously. While this may sound somewhat confusing, it makes complete sense because Polkadot ICO is based on the Web Protocol.
Polkadot ICO aims to solve several problems within the blockchain industry. These include transaction finality and scalability issues. Another problem they're aiming to solve is interoperability between chains, which can be challenging even for similar blockchains as they run different algorithms. This will also solve certain security issues in the industry, such as replay attacks and double-spending.
The first version of Polkadot ICO includes Ethereum and Bitcoin, including Smart Contracts and Proof of Work consensus algorithm, respectively. However, it will eventually support multiple consensus methods depending on what's best suited for each chain that connects with its network.
One of the key aspects of Polkadot ICO is on-chain governance. This means that any changes regarding their protocol or system can only be made once approved by stakeholders in its network. As a result, the Polkadot ICO team plans to have a considerable number of delegates, which will act as representatives for users within the network's decision-making process.
Polkadot ICO also has its own token called DOTs, based on the Web3 standard ERC20 tokens, but with some differences, including blocksize capacity and consensus algorithm scheme.
Gavin Wood created the project in 2014 within Parity Technologies Ltd., which intends to release it in early 2018 after a few pilot launches scheduled for late 2017.Because many developers are working on the project, it's positive that this ICO will be completely open-sourced, allowing everyone to examine the code.
Online services
Polkadot ICO also has an online presence with a test net where you can get started with Polkadot ICO. This allows you to try their wallet applications and some of their demo services within the network.
They also have a public Gitter channel, one of the most popular methods for developers to communicate and discuss projects in development. The community behind this project is quite active, and it looks like they're keen on making sure everything will go smoothly before the main launch expected in early 2018.
There are no specific details regarding token sale dates, but there are two separate portions of the token sale. In the first one, developers will offer at least 10% of tokens for sale, while they'll add another 10% in the second portion.
Polkadot ICO also has a token distribution scheme that may be important to know before participating in their crowd sale. It varies based on how many tokens you decide to buy and when exactly you do so.
