Polkadot (DOT) Blockchain Infrastructure and Smart Contracts: Web3 Foundation and Parity Technologies
➡️ Web3 Foundation https://web3.foundation/, based in Switzerland, is an organization dedicated to promoting Web3 technologies, with Polkadot as its flagship product. Its founder, Gavin Wood, was one of the co-founders of Ethereum and played an important role in developing the leading altcoin, including the widely known Solidity programming language.
➖ Parity Technologies (https://www.parity.io/), founded by Gavin Wood, is the company behind Polkadot blockchain. Wood served as CEO of Parity for many years and currently serves as the company's Chief Architect.
➖ Since the launch of parachains in late 2021, Polkadot has become a large and diverse ecosystem with 74 parachains currently active on the network (https://polkadot.network/blog/polkadot-2022-roundup/). In total, there are about 550 projects running or in development on Polkadot's technological stack.
➖ Over 200 teams have launched or are creating their own blockchains on the Polkadot network, recognizing that this model better suits their needs.
🎉 Exciting news arrived in November 2022 when Web3 Foundation announced after three years of collaboration with SEC that Polkadot's native token, DOT, has transformed and is no longer considered a security.
Web3 Foundation's Polkadot Reaches New Milestones in 2022: Record Development and Tokenomics Explained 💥🚀
In 2022, the Web3 Foundation grant program reached two important milestones: receiving its 1000th grant application and supporting its 400th project. It's no surprise that Polkadot's development reached record levels in 2022. DOT is the native token of the Polkadot network.
➖ Polkadot has no maximum coin limit (inflationary model), and rewards are distributed through the protocol's staking mechanism.
➖ Currently, there are 1.16 billion DOT tokens in circulation. It is expected that the supply of DOT tokens will reach 1.5 billion by January 2025
💥 In 2022, the project truly showed good development dynamics. However, it's important to keep in mind that Polkadot is still a very young ecosystem (the average parachain has been on the network for only about 6 months). This year, the project team will need to put in a lot of effort to keep up with the race of leading blockchains.🚀
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It seems like the second option is still valid, so I've decided to take a long position on ATOM/USDT. I will be monitoring the situation closely.
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