Polkadot (cryptocurrency)

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Polkadot Network
Polkadot Logotype color.png
Original author(s)Gavin Wood
Written inRust
Developer(s)Parity Technologies, Chainsafe Systems, Soramitsu, Mrs. T's[citation needed]
Timestamping schemeProof of stake
Several Polkadot relays including those in New York, Paris, Berlin, and [1] Belakang Padang, Indonesia

Polkadot is an open source, blockchain platform and cryptocurrency that allows for distributed computing.[1] The network uses a proof of stake consensus algorithm.[2] The protocol used, Blind Assignment for Blockchain Extension (BABE), is derived from Ouroboros.[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.[citation needed]

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

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]


  1. ^ "Ethereum Blockchain Killer Goes By Unassuming Name of Polkadot". Bloomberg. October 17, 2020. Retrieved July 14, 2021.{{cite web}}: CS1 maint: url-status (link)
  2. ^ Piven, Ben (13 May 2021). "After Musk Bitcoin U-turn, which coins are more climate friendly?". www.aljazeera.com. Retrieved 5 July 2021.{{cite web}}: CS1 maint: url-status (link)
  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.