Polkadot DOT

1. Summary

Ranks

Liquidity

100

Developer

99

Social

100

Momentum (beta)

18

Stack Rank™

79

Price

$6.82 -7.9%

Market Cap

$9.28B (#14)

Supply

1.36B / 1.44B

Tags

Smart Contracts Polkadot Ecosystem Asset-backed Tokens Smart Contracts Polkadot Ecosystem Layer 1 Layer 1 (L1) Платформа смарт-контрактов Уровень 1 (L1) 智能合约平台 第一层（L1） Platforma smart kontraktów Capa 1 (L1) Plataforma de contrato inteligente Warstwa 1 (L1) Couche 1 (L1) Plateforme de contrats intelligents Polkadot-Ökosystem Smart-Contract-Plattform Akıllı Sözleşme Platformu Nền tảng hợp đồng thông minh Piattaforma di smart contract Polkadot Ekosistemi Laag 1 (L1) Polkadot Ecosysteem Smart contractplatform Polkadot 生态系统 Ecosistema Polkadot Platform Kontrak Cerdas Экосистема Polkadot 스마트 계약 플랫폼 레이어 1(L1) Polkadot 생태계 スマートコントラクトプラットフォーム Proof of Stake (PoS) Camada 1 (L1) Plataforma de Contratos Inteligentes Ekosistem Polkadot Ecossistema Polkadot 智慧合約平台 第一層 (L1) Écosystème Polkadot Ekosystem Polkadot Polkadot 生態系統 Hệ sinh thái Polkadot Layer 0 (L0) Polkadotエコシステム

More Metrics

Price
52W High price	$11.46
52W High date	15th Mar 2024 (1 month ago)
All Time High (ATH) Date	4th Nov 2021 (2 years ago)
ATH Price	$54.98
% From ATH	-87.55%
All Time Low (ATL) Date	20th Aug 2020 (3 years ago)
ATL Price	$2.70
% From ATL	153.71%

Supply & Trading Volume
Trading Volume (24h)	$245.72M
Total Supply	1.44B
Circulating Supply	1.36B

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Description

Polkadot is defined as a multi-chain network with the primary goal to connect different, specialized blockchains into one unified network. The blockchains that connect with Polkadot work in parallel as parachains. This in turn allows them to access the Polkadot network’s proof-of-stake validation of transactions as well as security.

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Polkadot is defined as a multi-chain network with the primary goal to connect different, specialized blockchains into one unified network. The blockchains that connect with Polkadot work in parallel as parachains. This in turn allows them to access the Polkadot network’s proof-of-stake validation of transactions as well as security.

The network features a relay chain, where transaction addresses are checked and the data is standardized so that every system is able to understand it. The blockchains that do connect to Polkadot can use their own PoS mechanism and decide when and how to update their code and run the dApps or tokens that they choose to.

The DOT Token Explained

DOT is the internal token of the entirety of the Polkadot network which allows holders to vote on potential code changes, which automatically upgrade across the network when consensus is reached.

There is a total of three main purposes when it comes to the usage of DOT tokens on the Polkadot network:

Governance: The holders of the token have control over the protocol, and can manage things such as determining fee structures, protocol changes, and parachain additions or removals.

Operations: DOT token holders need to actively participate and ensure that they maintain the consensus mechanism, or they will be punished for not doing so.

Bonding: Validators will need to stake DOT tokens to the new parachains and receive active participation rewards as a result.

Features of Polkadot

When it comes to the structure of Polkadot, you have the following concepts:

• The Relay Chain – this is the chain that connects all of the individual chains into one, and they can organically solve interoperability issues between the connected chains.

• The Parachains – these are the parallelized chains that run through the entirety of the Polkadot network, and these can help scale up the system as a result of their parallelizing.

• The Parathread – these are quite similar to parachains, however, they have flexible connectivity which is based on an economical pay-as-you-go model.

• The Bridge Chain – through this bridge chain, different blockchains can be connected that do not use the Polkadot governance protocol.

As such, Polkadot is this sharded multichain network that can process many transactions on several chains in parallel. Custom blockchains can also easily be developed through the Substrate framework and can be connected to Polkadot in just a few minutes. Polkadot also features a user-driven governance system that helps secure it.

Founders of Polkadot (DOT)

Polkadot was founded by the Web3 Foundation, and the founders are Dr. Gavin Wood, Robert Habermeier, and Peter Czaban.

Gavin Wood fills the role of the president at the Web3 Foundation and is known due to his industry influence as an Ethereum co-founder, as well as for being the founder of Parity Technologies and creating the smart contract coding language known as Solidity.

Robert Habermeier is a blockchain and cryptography researcher as well as a developer.

Peter Czaban is the Technology Director at Web3 and has experience in fintech industries.

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