<s>
Polkadot	B-Protocol
is	O
a	O
blockchain	B-Application
platform	O
and	O
cryptocurrency	O
.	O
</s>
<s>
The	O
native	O
cryptocurrency	O
for	O
the	O
Polkadot	B-Protocol
blockchain	B-Application
is	O
the	O
DOT	O
.	O
</s>
<s>
It	O
is	O
designed	O
to	O
allow	O
blockchains	B-Application
to	O
exchange	O
messages	O
and	O
perform	O
transactions	O
with	O
each	O
other	O
without	O
a	O
trusted	O
third-party	O
.	O
</s>
<s>
This	O
allows	O
for	O
cross-chain	O
transfers	O
of	O
data	O
or	O
assets	O
,	O
between	O
different	O
blockchains	B-Application
,	O
and	O
for	O
decentralized	B-Application
applications	I-Application
(	O
DApps	B-Application
)	O
to	O
be	O
built	O
using	O
the	O
Polkadot	B-Protocol
Network	O
.	O
</s>
<s>
The	O
protocol	O
was	O
created	O
by	O
the	O
Ethereum	B-Application
co-founder	O
Gavin	O
Wood	O
,	O
Robert	O
Habermeier	O
and	O
Peter	O
Czaban	O
,	O
raising	O
over	O
$144.3	O
million	O
in	O
its	O
Initial	B-Application
coin	I-Application
offering	I-Application
in	O
October	O
2017	O
.	O
</s>
<s>
The	O
white	O
paper	O
for	O
Polkadot	B-Protocol
was	O
published	O
by	O
Wood	O
in	O
2016	O
.	O
</s>
<s>
Polkadot	B-Protocol
's	O
initial	O
block	O
(	O
the	O
"	O
genesis	O
block	O
"	O
)	O
was	O
released	O
in	O
May	O
2020	O
.	O
</s>
<s>
The	O
Polkadot	B-Protocol
network	O
has	O
a	O
primary	O
blockchain	B-Application
named	O
"	O
relay	O
chain	O
"	O
and	O
many	O
user-created	O
parallel	O
chains	O
called	O
"	O
parachains	O
"	O
.	O
</s>
<s>
The	O
relay	O
chain	O
acts	O
as	O
the	O
governance	O
layer	O
of	O
the	O
network	O
,	O
while	O
parachains	O
are	O
auctioned	O
,	O
enabling	O
independent	O
projects	O
to	O
create	O
and	O
operate	O
their	O
own	O
blockchains	B-Application
that	O
live	O
within	O
the	O
Polkadot	B-Protocol
infrastructure	O
.	O
</s>
<s>
It	O
is	O
estimated	O
that	O
1,000	O
transactions	B-General_Concept
per	I-General_Concept
second	I-General_Concept
can	O
be	O
processed	O
by	O
the	O
network	O
.	O
</s>
<s>
The	O
network	O
uses	O
a	O
proof-of-stake	B-Protocol
consensus	O
algorithm	O
.	O
</s>
<s>
The	O
protocol	O
used	O
,	O
Blind	O
Assignment	O
for	O
Blockchain	B-Application
Extension	O
(	O
BABE	O
)	O
,	O
is	O
derived	O
from	O
Ouroboros	B-General_Concept
,	O
a	O
protocol	O
created	O
by	O
Aggelos	O
Kiayias	O
.	O
</s>
<s>
The	O
Polkadot	B-Protocol
network	O
contains	O
bridges	O
,	O
which	O
connect	O
blockchains	B-Application
and	O
allow	O
data	O
transfer	O
.	O
</s>
<s>
Bridges	O
provider	O
interoperability	O
with	O
other	O
networks	O
such	O
as	O
Bitcoin	B-Protocol
or	O
Cardano	B-Protocol
.	O
</s>
<s>
Parathreads	O
operate	O
in	O
a	O
similar	O
manner	O
to	O
parachains	O
but	O
follow	O
a	O
"	O
pay	O
as	O
you	O
go	O
"	O
model	O
,	O
not	O
requiring	O
continuous	O
connectivity	O
to	O
the	O
Polkadot	B-Protocol
network	O
.	O
</s>
<s>
There	O
are	O
three	O
forms	O
of	O
stakeholders	O
within	O
the	O
Polkadot	B-Protocol
proof-of-stake	B-Protocol
consensus	O
model	O
namely	O
:	O
</s>
<s>
Staking	O
:	O
ensures	O
network	O
security	O
such	O
as	O
in	O
other	O
proof-of-stake	B-Protocol
networks	O
by	O
incentivizing	O
network	O
participants	O
to	O
act	O
honestly	O
by	O
holding	O
DOT	O
as	O
collateral	O
for	O
"	O
good	O
"	O
behavior	O
(	O
see	O
Sybil	O
attack	O
)	O
.	O
</s>
