Polkadot PriceDOT

What is Polkadot (DOT)?

Polkadot was developed as an open source project supported by a vast foundation called Web3 Technology. The foundation has done by Gavin Wood, the co-founder of Ethereum and the founder of Polkadot. Accompany with Peter Czaban & Robert Habermeier in the year 2016. Gavin Wood was the first CTO of Ethereum token and a former research scientist at Microsoft. He was a computer programmer too.

Polkadot aims to improve the transaction between public and private blockchains. It is a vast ecosystem that wants secure & effective transactions.

Polkadot is becoming more dominant day by day. The reason is profitable projects. Some of them have been built since 2018. Cryptocurrencies traders and prominent investors say that 2021 is the best time to invest in Polkadot because some previous projects, like (Testnet) are doing well and showing tremendous performance. Therefore, it is also coming with a massive projects list—these projects are diversified across various industry sectors. 

 

What Makes Polkadot Unique and how does it work?

Polkadot has enough unique quality to stand along with other coins. If we consider its design, it endures two types of blockchain technology: the Relay Chain termed leading network & Parachains called user-created networks. Both technologies have their quality. Relay chains focus on transactions and Parachains used to customize the uses and add them to the main blockchain. 

These unique designs mainly apply when the security has a concern. This design allows the transaction to keep maintained and protected. 

All in all, Polkadot keeps records private because the transaction is safe and data is not sharable. The reason is the blockchain technology structure followed by Polkadot. There is a main four component that comes under the uniqueness of this coin.

• Relay Chain: Polkadot functionality come under relay chain protocol, and it is responsible for the network's shared security and cross-chain interoperability.
• Parachains: This network is optimized and has its tokens. In other words, the network can farm its tokes.
• Parathread:  This network operates on a pay-as-you model design. This model design is more reliable and reasonable for the blockchain network, and in this protocol, we do not need network connectivity.

Bridges: It is an essential feature of the bridge. This rule allows us to connect part thread and para-chain to communicate with the network as Bitcoin does. By using the bridge, you can increase operability.

 

How Many Polkadot (DOT) Are There in Circulation?

The rank of Polkadot is not been studied but it ranked under the top-ten native currencies consistently. It has continued under the radar by traders and investors. According to the market records, (Currently value) coins in circulation and the overall market cap is 34.59 Billion. The 24 hours volume is approximately 1.11 Billion.

 

Where can I buy Polkadot (DOT)

If you are thinking to invest in cryptocurrency, Then this coin should be in your portfolio for sure. 

Today, we have many options to purchase crypto, including DOT. Many exchanges provide profitable deals. But buying from trustable exchanges is a different thing.

I am listing down some exchanges below where you can start investing.

• Binance
• WazirX
• Kraken
• Upbit
• CEX.IO