Polkadot is a cryptocurrency token founded by Gavin Wood, Robert Habermier, and peter Czaban. Referred as a heterogynous sharding, open-source multi-chain protocol, this cryptocurrency token allows for the cross-chain transfer of asset and data types; also inoperability of different blockchain.
In sharing information among the blockchain network, it creates a private and decentralized web, secured information users can control easily and simple new applications for services and institutions.
With Polkadot protocol, independent blockchain information can easily be transferred and shared. It performed protected transactions through its relay chain while connecting to public or private chains, future technologies, or permissionless networks.
Polkadot is unique because they created it using an accessible multi-chain technology that can process multiple transactions on the blockchain. The distinctive purposes of Polkadot include;
- Provides network operations
- Provides network governance
- Create parachains–parallel chain- through bonding
Currently, a portion of 1 billion DOT token is in distribution. An upgrade from the 10 million maximum supply in 2020. Polkadot is also among the new cryptocurrency that is gaining strength and stability in the market despite the dip.
If you want to know the price of DOT live or any other cryptocurrency, be sure to visit our pricing section.
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