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Polkadot is a software that seeks to incentivize a global network of computers to operate a block chain on top of which users can launch and operate their own block chains.
Polkadot is designed to operate two types of blockchains. A main network, called a relay chain, where transactions are permanent, and user created networks, called parachains.
Creators of Polkadot (DOT)
Polkadot was founded by Gavin Wood (a co-founder of Ethereum) alongside co-founders Peter Czaban and Robert Habermeier in 2016.
Official Website: Click Here.
Current stats of Polkadot (DOT)
Let’s have a current overview of DOT.
Current price of DOT:
Current price of DOT is $28.55 (price can be different as market fluctuations).
Market cap of DOT:
Market cap of DOT is 26.066 Billion.
Maximum supply of DOT:
Polkadot does not have a maximum supply. DOT is inflationary. There are currently just over 1 billion DOT in issuance.
From where you can buy or trade Polkadot (DOT)?
There are many applications and platforms from where you can buy DOT. Some of them are,
- Binance
- Kraken
- Coinbase
- Gemini
- Coinswitch Kuber
- WazirX
What are the Pros and Cons of Polkadot (DOT)?
There is always some Advantages and Disadvantages of every Cryptocurrency. Let’s have some of them of Polkadot.
Pros of DOT:
- Parity Technologies’ Substrate modular framework offers developers the flexibility to select specific components that best suit their application-specific chain.
- Polkadot allows developers to launch chains and applications leveraging a shared security model, without having to worry about attracting enough miners or validators to secure their own chains.
- Polkadot’s parachains can use bridges to connect with external networks like Bitcoin and Ethereum.
- Polkadot has already raised nearly $200 million, become a top ten coin by market cap, and started to be integrated with other networks, like Chainlink.
Cons of DOT:
- Polkadot is competing with many other general-purpose, smart contracting, Proof of Stake blockchains like Tezos, Cosmos, and Cardano, to name a few, with industry leading Ethereum already showing entrenched network effects.
- Hackers have exploited code vulnerabilities twice, draining millions of dollars before being stopped.
- A limited number of parachains are available and slots are sold via auction, which may price out some smaller use cases.
What will be the future of Polkadot (DOT)?
The native DOT token has not yet been available for trading on the crypto exchanges of this world for long. Nevertheless, the potential of the Polkadot blockchain is undisputed, and many experts see future growth potential. Therefore, we took a closer look at the price predictions of the most prominent analysts and summarized them in our Polkadot forecast from 2021 to 2025.