Polkadot
DOT
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About Polkadot
Polkadot is a protocol that enables cross-blockchain transfers of any type of data or asset. By uniting multiple blockchains, Polkadot aims to achieve high degrees of security and scalability. DOT serves as the protocol’s governance token and can be used for staking to secure the network or to connect (“bond”) new chains.
Resources
Polkadot (DOT) is an open-source multichain protocol that seeks to connect and secure a network of specialized blockchains. It aims to facilitate the cross-chain transfer of any data or asset types, not just tokens, striving to make blockchains interoperable with each other. Polkadot is known as a layer-0 metaprotocol because it underlies and describes a format for a network of layer 1 blockchains known as parachains. As a metaprotocol, Polkadot has the ability to update its own codebase via on-chain governance according to the will of its token holder community. The Polkadot protocol seeks to connect 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.
Polkadot operates through four core components: the Relay Chain, Parachains, Parathreads, and Bridges. The Relay Chain is the heart of Polkadot, helping to create consensus, interoperability, and shared security across the network of different chains. Parachains are independent chains that can have their own tokens and be optimized for specific use cases. Parathreads are similar to parachains but with flexible connectivity based on an economical pay-as-you-go model. Bridges allow parachains and parathreads to connect and communicate with external blockchains. Polkadot's native DOT token has three main functions: staking for operations and security, facilitating network governance, and bonding tokens to connect parachains.
Polkadot seeks to provide a foundation to support a decentralized web, controlled by its users, and to simplify the creation of new applications, institutions, and services. It can connect public and private chains, permissionless networks, oracles, and future technologies, allowing these independent blockchains to trustlessly share information and transactions. This makes it possible to build applications that get permissioned data from a private blockchain and use it on a public blockchain. For instance, a school’s private, permissioned academic records chain could send a proof to a degree-verification smart contract on a public chain.
Polkadot is the flagship protocol of Web3 Foundation, a Swiss Foundation with a mission to facilitate an open-source, fully functional, and user-friendly decentralized web. Polkadot’s founders are Dr. Gavin Wood, Robert Habermeier, and Peter Czaban. Wood, Web3 Foundation’s president, is recognized in the industry as Ethereum co-founder, Parity Technologies founder, and one of the contributors who created the smart contract coding language Solidity. Wood is also credited with coining the term Web3. Polkadot concluded its first Parachain auctions at the end of 2021, assigning the first five slots to the following auction winners: Acala, Moonbeam, Astar, Parallel, and Clover. These projects will have their parachain slots locked in for 96 weeks, guaranteed by the DOT bidders committed as collateral.
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Sum of median estimated savings and rewards earned, per user in 2021 across multiple Coinbase programs (excluding sweepstakes). This amount includes fee waivers from Coinbase One (excluding the subscription cost), rewards from Coinbase Card, and staking rewards.
Market
France Market Stats
€9.6B
€357.6M
1.4B DOT
91 days
#13
€51.01
France Market performance
-0.58%
-4.65%
+2.86%
+3.82%
-1.87%
+36.86%
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Social
Some highlights about Polkadot on social media
2,027 unique individuals are talking about Polkadot and it is ranked #48 in most mentions and activity from collected posts. In the last 24 hours, across all social media platforms, Polkadot has an average sentiment score of 3.1 out of 5. Finally, Polkadot is becoming less newsworthy, with 0 news articles published about Polkadot. This is a 100% decrease in news volume compared to yesterday.
On Twitter, people are mostly neutral about Polkadot. There were 8.12% of tweets with bullish sentiment compared to 0.86% of tweets with a bearish sentiment about Polkadot. 91.01% of tweets were neutral about Polkadot. These sentiments are based on 1157 tweets.
On Reddit, Polkadot was mentioned in 38 Reddit posts and there were 68 comments about Polkadot. On average, there were more upvotes compared to downvotes on Reddit posts and more upvotes compared to downvotes on Reddit comments.
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Overview
2,027 people
1,054 posts
0.1%
#48
3.1 out of 5
1,157 people
8.12%
Bullish
91.01%
Neutral
0.86%
Bearish
38
68
88
72