Digital currency startup, Polkadot (DOT), which was developed by Gavin Wood, the co-founder of Ethereum (ETH), is reportedly planning to raise $60 million through an initial coin offering (ICO). According to the Wall Street Journal (WSJ), the successful completion of the Polkadot ICO could potentially generate $1.2 billion, an amount which accounts for the value of all Polkadot tokens in circulation and those which will be issued at a later point. As a joint initiative supported by Parity Technologies (a “core blockchain infrastructure” firm) and the Switzerland-based Web3 foundation (an organization focused on improving online data and identity management), Polkadot will address current challenges with blockchain interoperability.
