According to Coindesk, Gavin Wood, the founder of the public chain project Polkadot, said at the RL1 virtual meeting on Wednesday that the Polkadot network is very close to launch. In addition, it was revealed that Polkadot will be launched based on the proof of authority (PoA) consensus algorithm, which will be launched in six stages. The first is the “chain candidate” stage initiated by the non-profit organization Web3 Foundation behind Polkadot. The follow-up phase will issue Polkadot network DOT tokens to holders, and form a validator for the planned conversion to PoS. When the network is completely decentralized and the entire network governance vote is passed, the DOT token will be released. Gavin Wood wrote a technical paper on Ethereum in 2014 and created Polkadot, which aims to allow users to send transactions across blockchains (such as Bitcoin and Ethereum).