Topic: Polkadot ICO (Read 1904 times)

I see now DOT is one of the most popular staking options on Kraken.

Those who bought Polkadot and Dfinity tokens in their ICO sales are the luckiest investors. Both projects seem to be the most important coins for 2020 because they could help crypto-industry a lot. Polkadot aims to interconnect all blockchains together. Dfinity is very similar to Polkadot. 

Kraken is going to list Polkadot tokens  on August 18. Following the result of voting the native DOT token will be redenominated by 100x factor on August 21. Being 3 days ahead of the official redomination event Kraken will add to trading (and staking) DOT token  denominated as New DOT.

I'm not 100% sure but I've though me heard that was around $100 million raised from ICO (in fact not all money but part of them) and affected by the flaw found  in Parity wallet.  Hope  they contacted Parity team and resolved the issue. And even if it doesn't, time proved Polkadot  had enough money to get them into development.

Polcadot is getting  live after almost three years being in the low profile state, while this thread seems to be dead.  Let me see if I can revive it.  Supported by Web3 Foundation Polcadot may secure the core protocol to  integrate and make accessible data from desperate  blockchains. Or you think the networks will be running independently and refuse operate together?

Somebody asked me to comment on Polkadot.

The white paper is written by Gavin Wood, founder of Ethereum & Parity. This is obviously a credible developer. It passes my first filter with flying colors. It also passes my second filter.

However, I don’t know if it passes my third filter. It is filled with technical features and functions, but little explanation of the benefits. It wants to connect (bridge) different blockchains, which will enable scaling, which is a good thing. However, to do so would be an incredibly difficult task and I question if Polkadot will be able to pull it off. Hopefully, they’ll prove me wrong.

There is another project that is trying to connect different blockchains together, as well, but I forget the name.

If Polkadot wanted people, other than blockchain developers to understand their project, they should’ve done a better job of explaining the problem(s) that they are trying to solve and the benefits of solving those problems to non-technical people. But, do they need to? I don’t see any info about ICO or token sale. Maybe they have enough money from their ETH holdings that they don’t need funding.

One interesting excerpt from the white paper is this:


I’m not quite sure how the Polkadot tokens will go up in value. For any token or coin to go up in value, the usage or demand must go up. Bitcoin is going up because people are throwing money into it to store value. Ethereum is going up because people are throwing money into it, in order to buy tokens at ICOs. What will be the fuel for Polkadot?

If it is indeed Gavin Wood running this project, then it is obviously not a scam or crap. It’s just hard to quantify the benefits of holding Polkadot tokens.

Though, there is one minor stain on Gavin. Someone hacked $32 million from Parity. Who hacked it? Was it an inside job?

Polkadot is a heterogeneous multi‑chain technology.

It consists of many parachains with potentially differing characteristics which can make it easier to achieve anonymity or formal verification. Transactions can be spread out across the chains, allowing many more to be processed in the same period of time. Polkadot ensures that each of these blockchains remains secure and that any dealings between them are faithfully executed. Specialised parachains called bridges can be created to link independent chains.

5,000,000 DOT tokens available
DOT price starts high, lowers over time
Everyone pays the lowest price per DOT
15% bonus DOTs for transactions received in the first hour

DOTs will be released in the Genesis block - estimated to happen in Q3 2019.