Polkadot: Connecting Specialized Blockchains Through Shared Security

Polkadot is an open-source blockchain network that connects multiple specialized blockchains within one system. The project was co-founded by Gavin Wood, Robert Habermeier, and Peter Czaban in 2016.

The Relay Chain provides shared security, coordinates consensus, and validates parachain activity. Parachains process application-specific workloads in parallel while inheriting security from the Relay Chain. Validators use BABE for block production and GRANDPA for finality.

Polkadot's key features include interoperability without requiring every connected chain to create an independent security system, and a native asset called DOT used for staking, governance, and coretime purchases.