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Polkadot DOT

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1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$28.26 -0.7%
Market Cap
$30.01B (#7)
Supply
1.06B / 1.14B
Price
52W High price $54.14
52W High date 5th Nov 2021 (1 month ago)
All Time High (ATH) Date 4th Nov 2021 (1 month ago)
ATH Price $55.00
% From ATH -49%
All Time Low (ATL) Date 20th Aug 2020 (1 year ago)
ATL Price $3.00
% From ATL 945%
Supply & Trading Volume
Volume (24h) 1.36B
Total Supply 1.14B
Circulating Supply 1.06B
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.

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.

2. Price

$DOT / USD

2.1. Market Performance

How does Polkadot's (DOT) performance compare to assets of a similar market capitalization?

30 Day Return

-47.8%

DOT

-10.2%

Similar Market Cap

60 Day Return

-10.4%

DOT

12.5%

Similar Market Cap

1 Year Return

459.5%

DOT

5,845.2%

Similar Market Cap

3. Developer Activity

We're monitoring 511 Polkadot Github repos for commits, code additions and deletions. This data is factored into the Developer Rank. Because of delays in Github's stat processing, recent activity maybe underrepresented.

Weekly Commits (All Polkadot Repos)

Commits vs. The Market

  • Past 4 weeks: 996 commits vs. an average of 31
  • Past 12 weeks: 2,918 commits vs. an average of 124
  • Past year: 21,796 commits vs. an average of 863

Most Active Repos

Past week 0
Past 12 weeks 0
Past year 7763
Past week 0
Past 12 weeks 0
Past year 4930
Past week 0
Past 12 weeks 261
Past year 1777
Past week 97
Past 12 weeks 275
Past year 1204
Past week 22
Past 12 weeks 199
Past year 1182
Past week 86
Past 12 weeks 241
Past year 1176
4. Social Activity
Reddit Subscribers 20,031
Active Reddit Users (past 24h) 163
Telegram Users 38,663
Twitter followers 971,157
5. News
6. More Information

Always do your own research (DYOR) before making any investment. Here's some links you might find helpful:

Website https://polkadot.network/
Explorer http://polkascan.io/
Twitter @Polkadot
Whitepaper https://polkadot.network/PolkaDotPaper.pdf
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