Polkadot is About to "Fundamentally Change," Said Web3 Foundation's New CEO

Polkadot is about to undergo a major shift, Fabian Gompf, Web3 Foundation's new chief executive officer said in an interview.

Polkadot's parachain system, "will fundamentally change at the end of this year, beginning of next year," Gompf told The Defiant in the first interview he's done since becoming CEO.

The upgrade "allows to allocate block space, allocate the resources of parachains, to whatever you can code on top of them," he said.

Parity Technologies develops the Polkadot blockchain, while the Web3 Foundation oversees ecosystem growth via funding, advocacy and research.

Gompf is betting increased funding will boost activity.

The Decentralized Futures Program, which kicked off on Nov. 16, will provide funding of $20M and 5M DOT, or about $45M, for teams building on Polkadot.

The programs is aimed at moving away from the "centralized stewardship of the protocol," into a more decentralized structure, Gompf said.