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Polkadot DOT

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1. Summary

Fundamental Rank
Developer Rank
Social Rank
Coinrank
Price
$18.93 +9.6%
Market Cap
$19.30B (#7)
Supply
1.02B / 1.10B
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

23.6%

DOT

8.1%

Similar Market Cap

60 Day Return

-20.5%

DOT

-25.4%

Similar Market Cap

3. Developer Activity

We're monitoring 93 Polkadot Github repos for commits, code additions and deletions. This data is factored into the Developer Rank.

Weekly Commits (All Polkadot Repos)

Commits vs. The Market

  • Past 4 weeks: 95 commits vs. an average of 45
  • Past 12 weeks: 697 commits vs. an average of 195
  • Past year: 5,876 commits vs. an average of 1,327

Top Repos by Code Commits

Past week 0
Past 12 weeks 293
Past year 1918
Past week 0
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Past year 626
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Past 12 weeks 17
Past year 393
Past week 16
Past 12 weeks 20
Past year 299
Past week 0
Past 12 weeks 0
Past year 204
Past week 0
Past 12 weeks 0
Past year 198
Past week 1
Past 12 weeks 35
Past year 191
Past week 0
Past 12 weeks 3
Past year 171
Past week 5
Past 12 weeks 11
Past year 146
Past week 0
Past 12 weeks 0
Past year 142
Past week 13
Past 12 weeks 27
Past year 137
Past week 8
Past 12 weeks 132
Past year 132
4. Social Activity
Reddit Subscribers 20,031.00
Active Reddit Users 163.00
Telegram Users 35,189.00
Twitter followers 516,592.00
5. 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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