DOT is the native token of the Polkadot network.
Polkadot is a unique network that allows the transfer of data, money and assets between different blockchains.
Polkadot is different from other networks such as Ethereum because it uses various blockchains instead of smart contracts, allowing developers a more granular approach to design. DOT tokens are the native currency of the Polkadot ecosystem and are used for proof of stake and governance.
At Polkadot's core is a universe of blockchains, both public and private, that can all interact with each other through a process known as interoperability. Instead of using smart contracts to run applications, Polkadot uses parallel blockchains, known as parachains, to serve a similar purpose. Whereas a developer on Ethereum would use a collection of smart contracts to program a dapp, developers on Polkadot use parachains instead.
By programming individual blockchains to host dapps instead of smart contracts – which are bound to the parent blockchain's rules – developers are able to exercise greater control over design, including key features such as speed, fees and whether data is public or private. Smart contracts are still supported on Polkadot, although they must exist within a parachain.
For example, a bank might want to host customer data on a private blockchain that only employees can alter. Customers could then access this data using a third-party payments app that operates on a public blockchain. Permission to access either parachain could be moderated by a digital ID held on a smart contract parachain.
Tying these parachains together is the relay chain, which can be thought of as the central blockchain within Polkadot. By managing a network of parachains from a central relay chain, friction is reduced, enabling a faster and more efficient network for both the user and those that operate it.
Polkadot (DOT) is the 10th largest cryptocurrency in the world by market cap, valued at $9,668,477,805. The current price of Polkadot is $8.49, which is -2.015% lower than yesterday. Prices have ranged between $8.87 and $8.42 over the past 24 hours. All prices are listed in US dollars and accurate as of August 07, 2022 05:08 UTC.
| Coin symbol | DOT |
|---|---|
| Coin Marketcap | US$9,668,477,805 |
| Total DOT supply | 1,219,720,113 |
| Circulating DOT | 1,138,770,979 |
| Current price | US$8.49 |
| All time high | US$54.98 |
| All time high date | November 04, 2021 |
| Notable team members | Dr. Gavin Wood, Robert Habermeier, Peter Czaban |
| Partnerships | Chainlink, Kusama |
| Industry | Blockchain platform |
| Token uses | Governance, utility token, rewards |
| Network | Polkadot |
Historical prices compared with the price of US$8.49.
| 1 hour | -0.89% |
|---|---|
| 24 hours | -2.01% |
| 7 days | 3.25% |
| 14 days | 15.50% |
| 30 days | 15.98% |
|---|---|
| 60 days | -8.17% |
| 200 days | -66.20% |
| 1 year | -58.43% |
Cryptocurrencies aren't regulated in the UK and there's no protection from the Financial Ombudsman or the Financial Services Compensation Scheme. Your capital is at risk. Capital gains tax on profits may apply.
Cryptocurrencies are speculative and investing in them involves significant risks - they're highly volatile, vulnerable to hacking and sensitive to secondary activity. The value of investments can fall as well as rise and you may get back less than you invested. Past performance is no guarantee of future results. This content shouldn't be interpreted as a recommendation to invest. Before you invest, you should get advice and decide whether the potential return outweighs the risks. Finder, or the author, may have holdings in the cryptocurrencies discussed.
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