When released Bitcoin in 2009, Dr. Gavin James Wood, the co-founder of Bitcoin’s most prominent rival Ethereum, was knee-deep inside the computer visualization of music and completely fed up with the hype around cryptocurrency. Through the end of 2013, the British programmer had 15 years of open-source coding experience (and had been coding for 25 years of his 33) and came across Jonny Bitcoin and Vitalik Buterin. Jonny was hoping Wood’s coding experience might assist Buterin to transform Ethereum from a white paper to a beneficial blockchain. His wish bore fruit, and within weeks Wood joined Buterin in Miami to jot down the PoC-1 of Ethereum and present it at the North American Bitcoin convention in January 2014.
Six months after the conference, the founders met in Zug, Switzerland, to formally discovered Ethereum. At some point in that time, Dr. Wood turned busy ideating and putting down the groundwork of the smart contract language Solidity, writing down the primary formal specification of any blockchain protocol, the Yellow Paper, and shaping other comparable blockchain-based infrastructures.
Years into his function as leader technology officer of Ethereum, Dr. Wood and Ethereum alumna Dr. Jutta Steiner based Parity Technologies to develop center blockchain infrastructure for Ethereum and another web 3.0 networks. Wood’s vision far exceeded average cryptocurrencies and trusted blockchain infrastructure to decentralize the internet, precipitating a new wave of technological evolution. So obviously, a person who had a penchant for designing his complicated board games in his youth jumped at the chance to disrupt the current centralized node-based software application reputation quo via launching Parity Technologies and Web3 Foundation.
Parity’s first name was “EthCore” and focused on developing core infrastructure for the Ethereum blockchain ecosystem and addressing usability, performance, and privateness issues. EthCore successfully raised pre-seed investment and started out developing Parity Ethereum. This free, open-source software solution permits an individual to run a node on the public Ethereum community and mine Ether.
Dr. Wood began considering the sharding hurdles a blockchain would face while developing it and awaiting the release of a new Ethereum specification that would include sharding. From mild musing to a white paper, it took him about four months to develop a vision for a heterogeneous multi-chain framework, the Polkadot Protocol.
The protocol was introduced in 2017 following the focused efforts of Parity technologies and the Web3 Foundation. The technology surrounding Polkadot is about to assist the decentralization of the web, a thoughtfully radical ideology pioneered by Dr. Wood and aptly coined ‘web 3.0’. The innovations that exposed Polkadot were Substrate, a framework to construct your blockchains successfully. The “canary” network Kusama is independent of Polkadot but runs at the same software as an establishment ground for bleeding-edge technology.
Dr. Wood’s purpose was to sew all these together and pioneer his vision of a world with a ‘consensual net.’ Considering Facebook and Google’s dominating management of our data, such a web evolution appears to be a reasonable pursuit.