Polkadot, the parallel chain protocol

Quick Take

  • Polkadot is a protocol invented by Gavin Wood, the co-founder of Ethereum and Parity Technologies
  • On Oct. 27, 2017, Polkadot’s token pre-sale, raised 485,331 ETH (~$145 million) to build out its parallel blockchain concept
  • On Polkadot, parachains share the security of a base chain called the inter-chain

A historical overview of Polkadot

Polkadot has a rich history going all the way back to the founding of Ethereum. In 2013, Polkadot’s founder Gavin Wood was working for 0xlegal, a legal software provider, as its Director of Technology. Wood has been following Bitcoin for a couple of years and came across a story about Ami Taaki, the renowned anarchist revolutionary and Bitcoin contributor.