Parity Technologies, the Polkadot builder, has hired three new executives to its leadership team

Parity Technologies, the Polkadot builder, has hired three new executives to its leadership team ...

Eran Barak (chief operating officer), Peter Ruchatz (chief marketing officer) and Fahmi Syed (chief financial officer) have been added to Parity Technologies' leadership team, which includes founder and CEO Gavin Wood, who is also the co-founder and former CEO of Ethereum.

Eran Barak, who has previously worked with companies like Thomson Reuters and Symphony Communications, has been noted in a CoinDesk report as the CEO. Eran holds a BSc in Computer Science from Tel Aviv University and an Executive MBA in Marketing from the Kellogg School of Management.

As of February 20, 2022, Fahmi Syed was the chief operating officer of FIFTHDELTA, Europe's largest hedge fund of 2021 with $749 million (roughly Rs. 5,941 crore) in assets under management (AUM). He also holds experience with Marshall Wallace's non-investment team, helping its growth to $45 billion (roughly Rs. 3,56,970 crore).

Peter Ruchtaz served as Microsoft's international lead in Salesforce and Microsoft, while also fostering growth for other SaaS businesses, such as Celonis. As the chief marketing officer, he will oversee marketing and communications and promote market awareness about Polkadot.

Polkadot is not a traditional blockchain; it is actually an ecosystem of interconnected blockchain shards called parallelised chains or parachains, which are application-specific. Parachains connect to and are secured by a single base platform called the Relay Chain. They can also connect with external networks via bridges.

Polkadot's Relay Chain is the hub of the network, ensuring network safety, consensus, and cross-chain interoperability. It includes Polkadots' voting logic.

Parachains are sovereign blockchains that have their own tokens and are designed for specific use-cases. Parachains must pay for connecting to the Relay Chain.

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