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Parity announces revolutionary blockchain vision "Polkadot"


Announces development agreement with Melonport AG for scalable network of blockchains.






Parity Technologies Ltd (formerly known as Ethcore) the blockchain core technology company and creator of the Parity Ethereum software announced the immediate availability of the Polkadot technical vision paper. Polkadot is a third-generation public permissionless blockchain technology designed to be at once scalable and extensible, solving two of the greatest problems preventing widespread adoption of blockchain technology today. It will be developed as an open-source technology with public contributions welcomed.

Dr. Gavin Wood, founder of Parity Technologies and lead developer of the acclaimed Parity Ethereum client says, "Polkadot represents the next step in the journey of consensus technologies and opens up some really exciting avenues. With the goal of allowing diverse kinds of blockchains to interoperate within the same consensus network, we can enable a new level of freedom and protection. Innovative new technologies can be quickly integrated, and divisive hard forks can become a thing of the past."

Ken Kappler, co-founder and CCO of Parity Technologies continues "Polkadot has the potential to integrate so called ‘private’ chains into the same consensus network as public chains like Ethereum - while still retaining their privacy and permissioned safeguards. It gives us a new transactive layer potentially linking hundreds of blockchains to one another."

Polkadot will be formalised and implemented under a signed commercial development agreement with Melonport AG, who will fund the development of it as part of their overall wealth management platform. As part of the agreement, Polkadot has been designated to include a backwards-compatibility layer with the current Ethereum network, allowing smart contracts on Ethereum to interact directly with any chains that become a part of Polkadot network.

Reto Trinkler, founder of Melonport said, "Polkadot feels like the next logical step when it comes to blockchain development and it's a perfect fit for what the Melon project tries to achieve. We are very excited to embark on this journey together with Parity Technologies Limited and make decentralised asset management a reality."

Parity Technologies (formerly Ethcore) is a UK-based VC backed company founded by Ethereum co-founder Dr. Gavin Wood together with a number of other central figures from the Ethereum project. The Polkadot project is slated to begin in the new year and take up to 24 months to complete.

parity.io/ for more about Parity Technologies
polkadot.io/ for more about the Polkadot Technology
melonport.com/ for more about the Melon project

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