Polkadot (DOT) Review, Price, Market Cap and more | Coinopsy

Polkadot (DOT)

Polkadot (DOT) - IInteroperability

Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other.
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Polkadot's current price is $26.380 USD. In the past 24 hours, Polkadot's price has decreased by -8.3 percents..
DOT
Name (Ticker)
Polkadot (DOT)
Price (USD)
$26.38
Rank
9
Active Supply
1.0 billion
Total Supply
1.1 billion
Volume(24H)
2.4 billion
Market cap
27.4 billion
Fun Name
IInteroperability
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Summary

The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain (explained further down).

Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains (parallel chains) by bonding.

Polkadot has four core components:

  • Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains;
  • Parachains: independent chains that can have their own tokens and be optimized for specific use cases;
  • Parathread: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model;
  • Bridges: allows parachains and parathreads to connect and communicate with external blockchains like Ethereum.
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Founders

Founders

Polkadot was founded by the Web3 Foundation, a Swiss Foundation founded to facilitate a fully functional and user-friendly decentralized web, as an open-source project.

Its founders are Dr. Gavin Wood, Robert Habermeier and Peter Czaban.

Wood, the Web3 Foundation’s president, is the most well-known of the trio thanks to his industry influence as Ethereum co-founder, Parity Technologies founder and the creator of the smart contract coding language Solidity.

Habermeier is a Thiel Fellow and accomplished blockchain and cryptography researcher and developer. Czaban is the Web3 Foundation’s Technology Director. With a wealth of experience across highly specialized fintech industries, he is currently helping to develop a new generation of distributed technology.

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