Polkadat is always alive
Polkadot is a popular digital currency because the project aims to centralize the web by connecting blockchains and interacting with them, which will enable new applications such as some decentralized financial services (Defi). You've probably heard the name Polkadot before and wondered, is this digital currency good for investment?
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cryptocurrrencies similar to Polkadot
Know more about Polkadot
Polkadot root and history
Starts from one of the founders of Eyhereum, Dr. Gavin Wood (Ph.D. in Software Engineering). Dr. Wood has more than 20 years of experience working as a software developer inside and outside the cryptography space.
He coded the first application version of Ethereum and even wrote a yellow paper. What Dr. Wood is perhaps best known for is Solidity, the programming language used to build smart contracts in Ethereum.
In January 2016, Dr. Wood left his position as CTO and developer of the Ethereum nucleus. Then in the same year, Dr. Wood began building a new digital currency that "could make promises that Ethereum could not." The first draft of the Polkadot White Paper was completed by the end of 2015.
What is Polkadot?
Polkadot is a digital currency project that seeks to secure the decentralized future of the Internet. This digital currency is compatible with other blockchains inside and outside the cryptocurrency, allowing smart contracts and new blockchains (tokens) to be created. It is possible to exchange information in this project, as well as the ability to upgrade. This protocol is administered by those who have native Polkadot digital currency.
Polkadot is a project of the Web3 Foundation, a Swiss non-profit organization based in the Swiss Crypto Valley (Zug). The Web3 Foundation uses UK-based Parity Technologies to develop and maintain the Polkadot network.
Dr. Gavinwood is one of the founders of the Web3 Foundation and Parity Technologies and is therefore the main developer of the Polkadot network. Polkadot is built using Substrate, a blockchain tool developed by Parity Technologies.
DOT is available at thousands of reputable exchanges including Binance, Kraken, Hubby, and OKEx. Almost every digital currency currently on the list has incredible liquidity, especially in Binance. The volume of DOT 24-hour trades is also extremely high. With the Coinbase list, you will notice this volume.
DOT is a digital currency in the Polkadot network. Anyone with a DOT can vote on Polkadot proposed changes. DOT is used for storage by validators, nominees, and fishermen in the network. DOT is also used to connect Parachains to the Relay Chain via Collators.