Originally published in the NOWNodes blog.Polkadot.network was established in 2016 by its founders Gavin Wood and Peter Czaban. It is an open-source project funded by the Web3 Foundation. Web3 Foundation funds research and development projects that intend to build the foundation of the decentralized web. Five teams and over a hundred developers have been commissioned to build Polkadot.The objective behind developing Polkadot is to deliver the most robust platform for security, scalability, and invention. It is a sharded chain that offers scalability and also the first protocol to provide a secure environment for cross-chain composability.The initial version of Polkadot was launched on 26th May 2020. However, Polkadot\u2019s launch is a sequence of multiple rollouts happening one after another. Each phase has some specific aims and objectives to meet. Here\u2019s the brief outline of each of these phases below.PoA or Proof of Authority ModeIn this mode, most of the users gained access to claim tokens from their Ethereum contracts. They could stake their tokens and declare their intent. They could either validate or nominate. Validators could set their session keys and the Web3 Foundation used the Sudo key to manage the chain along with activating more features.NPoS or Nominated Proof of Stake ModeIn this phase, the network was run by a decentralized set of validators. Web3 used the Sudo key to increase the number of validators in this phase.GovernanceAlthough the Sudo key still had some roles in some operations, the governance system was activated to take most of the decisions on the chain. For example, the governance committee could elect the first council and the technical committee.Sudo RemovedThe Sudo module was removed. Only governance could dispatch root calls.Activating Balance TransferThis is the phase Polkadot.network is currently in. In it, the community voted on a runtime upgrade. The purpose of the runtime\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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