What is Polkadot?
Polkadot is a decentralized, nominated proof-of-stake blockchain platform designed to enable interoperability between different blockchains. It allows blockchains to securely and reliably exchange messages and execute transactions without the need for a trusted third party. This facilitates cross-chain transfers of data and assets, making it possible to build decentralized applications (dApps) on the Polkadot network.
Whitepaper: Polkadot Whitepaper
How does Polkadot work?
Polkadot uses a nominated proof-of-stake (NPoS) consensus mechanism. In this model, token holders nominate validators who are responsible for producing and validating blocks. This system is more energy-efficient than proof-of-work models, where individual miners compete using high computational power.
The token
Ticker: DOT
Category: Platform Token
Blockchain: Polkadot
Protocol: Nominated Proof-of-Stake (NPoS)
Launch date: May 26, 2020
The technology behind Polkadot
Polkadot is designed as a scalable, heterogeneous multichain network. It features a relay chain that can host a large number of independently validated yet globally coherent data structures. This architecture enables the parallel processing of transactions across multiple parachains, significantly boosting scalability.
The Polkadot ecosystem
The Polkadot ecosystem consists of various parachains, each optimized for specific use cases. These parachains can communicate through the Cross-Consensus Message Passing (XCMP) protocol, enabling a wide range of applications and services within the network.
Who founded Polkadot?
Polkadot was founded by Dr. Gavin Wood, co-founder and former CTO of Ethereum. He published the Polkadot whitepaper in 2016 and established the Web3 Foundation in 2017 to support the development of Polkadot and other decentralized technologies.
Price at this moment
24h ago
€3.73
The value of Polkadot 24 hours ago
24h highest price
€3.78
The highest value of Polkadot the last 24 hours
24h lowest price
€3.66
The lowest value of Polkadot the last 24 hours
24h difference
€0.04058681
The value in which Polkadot has dropped or increased the last 24 hours
Impact on the environment
Click here to read more information about the impact of this coin on the environment.
Risk disclaimer
Please note: for more information about this crypto asset, consult the official resources provided by the project via polkadot.com/get-started/dot-token.
Before trading, make sure to read the general risk warning about crypto asset trading:
Cryptocurrencies, including Polkadot (DOT), are volatile and involve risks. The value of DOT can fluctuate significantly, and investments may result in financial losses. Always do your own research and only invest money you are prepared to lose.