Polkadot was founded by Ethereum co-founder Gavin Wood.
Wood created Polkadot with Robert Habermeier and Peter Czaban as a network designed to let separate blockchains communicate and share data. Unlike a single-purpose cryptocurrency, Polkadot aims to connect specialized chains through a shared Relay Chain.
Wood published the Polkadot white paper in 2016, several years after Ethereum’s initial conception. The project later raised more than $144 million in a 2017 initial coin offering, although a Parity wallet vulnerability froze a large amount of Ethereum associated with the fundraising.
A common mix-up is confusing Polkadot with Kusama. Kusama is a related experimental network, while DOT is Polkadot’s native token. Polkadot’s mainnet launched in 2020, and parachains became a major part of its architecture in 2021.