How Polkadot’s parachain auctions make a decentralized Web3 possible By Cointelegraph
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When Gavin Wood co-founded , he stated that it would “allow people to interact in mutually beneficial ways without anyone needing to trust each other.” In theory, such a platform would pave the way for Web3, characterized by decentralized or distributed network architectures, that would lay the groundwork for a truly open internet where we would not have to blindly entrust our data to monopolistic corporations or get permission from them in order to participate.
Since its inception in 2015, however, Ethereum has simply failed to adapt fast enough and keep up with the pace. Transactions costs for decentralized applications (DApps) have been too high while transaction speeds have been too slow. Wood left the Ethereum team in 2016 and founded the framework for a decentralized Web3: .
James Wo is an experienced entrepreneur and investor in the digital assets space who founded Digital Finance Group in 2015, where he oversees over $1 billion assets under management. He is an early investor in companies like LedgerX, Coinlist, Circle, 3iQ. James is also an early investor and supporter of Polkadot and Kusama Network. He contributes substantially to the ecosystem through capital allocation, donations and actively supporting the Parachain Auctions. Additionally, James serves as the board and committee member of the Chamber of Digital Commerce and acts as chairman at UAE Licensed Matrix Exchange.
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Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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When Gavin Wood co-founded , he stated that it would “allow people to interact in mutually beneficial ways without anyone needing to trust each other.” In theory, such a platform would pave the way for Web3, characterized by decentralized or distributed network architectures, that would lay the groundwork for a truly open internet where we would not have to blindly entrust our data to monopolistic corporations or get permission from them in order to participate.
Since its inception in 2015, however, Ethereum has simply failed to adapt fast enough and keep up with the pace. Transactions costs for decentralized applications (DApps) have been too high while transaction speeds have been too slow. Wood left the Ethereum team in 2016 and founded the framework for a decentralized Web3: .
James Wo is an experienced entrepreneur and investor in the digital assets space who founded Digital Finance Group in 2015, where he oversees over $1 billion assets under management. He is an early investor in companies like LedgerX, Coinlist, Circle, 3iQ. James is also an early investor and supporter of Polkadot and Kusama Network. He contributes substantially to the ecosystem through capital allocation, donations and actively supporting the Parachain Auctions. Additionally, James serves as the board and committee member of the Chamber of Digital Commerce and acts as chairman at UAE Licensed Matrix Exchange.
Continue Reading on Coin Telegraph
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
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