Polkadot – platform and cryptocurrency

The Polkadot token has increased in value by more than 1200% since the end of summer 2020. But it’s not just cryptocurrency. Polkadot is also a multifunctional platform. Its main task is to connect different blockchains into one multiblockchain, where the exchange of information data will be decentralized.

Structural features of the platform

Consists of the following components:

  • the relaying or connecting chain is the main component Polkadot, which unites all blocks of financial chains on the Internet;
  • parallel chain (parachain) – parallel separate block chains, whose task is to conduct transactions and transfer them to the initial blockchains;
  • chain bridge – used to connect blockchains that do not run on the protocols of this platform. < / span>

You can connect new ones created by the platform to existing blockchains. The system posts cross-listing and settlement. The latest Polkadot news speaks about fast and secure data processing, the ability to share information without system updates.

Polkadot Cryptocurrency

Since 2017, the platform has its own Dot cryptocurrency . It clearly states the goals that Dot token .

  1. Adjustment. Owners Polkadot dot are protocol controllers. All rights that on other resources refer only to the privileges of miners are transferred to holders of Dot coins.
  2. Functional safety. Dot cryptocurrency forces its owners to behave honestly and for this they are rewarded. Participants who are cunning and try to cheat lose their part. This guarantees security.
  3. Connection. Newly appeared parachains are added by combining tokens. Removal of useless or old parachains is done by excluding associated tokens.

A total of 10 million tokens were launched into circulation. But with the start of trading, he changed the denomination, and the initial number of tokens grew to 1 billion. They are spinning among users now.

Dot Currency Valuation

Now the average Polkadot rate is $ 36 per coin. Since the launch of the cryptocurrency, the platform has been recruiting funding by issuing new coins. At that time, Polkadot’s forecast was ambiguous. But such a move in the same year attracted $ 145 million, and in 2013 – more than $ 43 million.

Currently buy Polkadot available on HBTC, Binance and Binance .KR, Huobi Global, OKEx. In recent days, there are approximately 990 million Dot coins in circulation. Polkadot price may go up and down, but lately it has been more or less stable. The cryptocurrency is ranked 9th in the CoinMarketCap ranking.

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