Ex: A Sharded Network for Cross-Chain Communication and Interoperability.

Polkadot is a blockchain network designed to support various interconnected, application-specific sub-chains called parachains (short for parallelized chains). Each chain built within Polkadot uses Parity Technologies' Substrate modular framework, which allows developers to select specific components that suit their application-specific chain best. Polkadot refers to the entire ecosystem of parachains that plug into a single base platform known as the Relay Chain. This base platform, which also leverages Substrate, does not support application functionality but instead provides security to the network's parachains and contains Polkadot's consensus, finality, and voting logic.

"Polkadot is the brainchild of Dr. Gavin Wood, who is one of the co-founders of Ethereum and the inventor of the Solidity smart contract language. Dr. Wood started working on his idea to “design a sharded version of Ethereum” in mid-2016 and released the first draft of the Polkadot white paper in Oct. 2016. In 2017, Dr. Wood and Parity’s Peter Czaban founded the Web3 Foundation, a non-profit entity established to support the research and development of Polkadot as well as to oversee its fundraising efforts. The Switzerland-based Web3 Foundation hosted Polkadot’s first token sale in Oct. 2017, using a Spend-All Second Price Dutch Auction to distribute the funds. The sale raised $145 million in just under two weeks, selling 50% of the initial 10 million DOT (old) supply, and the Web3 Foundation chose Parity Technologies to develop Polkadot.Parity Technologies was founded by Dr. Wood and Jutta Steiner and is known for maintaining the Parity Ethereum client in addition to Substrate, which serves as the development framework for Polkadot."

"Polkadot facilitates cross-chain communication and interoperability by connecting multiple blockchains into one unified network.Polkadot's infrastructure includes the Relay Chain, the Parachains, and the Bridges.The Relay Chain is the central chain of the Polkadot network. All validators of Polkadot are staked on the Relay Chain.The Parachains are parallel chains that connect to the Relay chain and are maintained by their validators, called collators.The Bridges are special blockchains that allow Parachains to connect to and communicate with external networks like Ethereum and Bitcoin.Polkadot uses DOT tokens for operating on its network. DOT serves multiple purposes such as:Governance: where participants can manage protocol updates and fixes.Staking: where the tokens are staked to ensure the network remains secure, as good validators are rewarded, and bad actors lose their stake. Bonding: where new parachains are supported by bonding tokens.Fees: for ferrying messages across parachains.Based on Polkadot’s first stakeholder vote, all DOT tokens will be redenominated by a factor of 100 at block 1,248,328, estimated to occur at 2020/08/21 4:40 PM (UTC). To support the redenomination plan, all DOT deposits made to Binance after block 1,205,128 will be multiplied by a coefficient of 100. For example, if a user deposits 10 DOT, he/she will be credited with 1,000 DOT to his/her account."

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KR1 - zk Capital - Kosmos Capital - Three Arrows Capital

"50% allocated to token sale investors - 5% allocated to the 2019 private sale investors - 3.4% allocated to 2020 token sale investors - 11.6% retained by the Foundation for future fundraising efforts - 30% allocated to the Web 3 Foundation for immediate use to develop the Polkadot network and other undisclosed Foundation activities."