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Polkadot is an open-source sharded multichain protocol that connects and secures a network of specialized blockchains, allowing cross-chain transfer of any data or asset type, not just tokens, and thus making blockchains interoperable. Polkadot was created to serve as the foundation for Web3, a decentralized internet of blockchains.
Polkadot is a layer-0 metaprotocol because it underpins and describes a network of layer 1 blockchains known as parachains (parallel chains). Polkadot, as a metaprotocol, is also capable of autonomously and forklessly updating its own codebase through on-chain governance in accordance with the wishes of its token holder community.
Polkadot provides a foundation for a user-controlled decentralized web, as well as for the creation of new applications, institutions, and services.
Polkadot is the flagship protocol of the Web3 Foundation, a Swiss non-profit organization dedicated to enabling an open-source, fully functional, and user-friendly decentralized web.
Dr. Gavin Wood, Robert Habermeier, and Peter Czaban founded Polkadot.
Wood, the president of the Web3 Foundation, is the most well-known of the three due to his industry influence as an Ethereum co-founder, Parity Technologies founder, and creator of the smart contract coding language Solidity. Wood is also credited with the invention of the term Web3.
Thiel Fellow Habermeier is an accomplished blockchain and cryptography researcher and developer. Czaban is a former Web3 Foundation Technology Director with extensive experience in highly specialized fintech industries.
If you’re wondering where to buy Polkadot at the moment, the top cryptocurrency exchanges for trading Polkadot stock right now are Binance, BTCEX, OKX, Deepcoin, and Bybit.
