Polkadot logo

Polkadot price

(DOT / USD)

$40.63
-10.05%

Market stats

$40.0B

$2.9B

+59.98%

987.6M DOT

28 days

63% buy
37% sell

#6

$49.69

-0.68%

-10.05%

-1.82%

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.

How it works

Polkadot uses a proof-of-stake consensus mechanism (as opposed to the proof-of-work system Bitcoin uses) to secure the network, verify transactions, and create and distribute new DOT. There are several ways DOT holders can interact with staking system — depending on how much time, technical knowledge, and money they want to devote. By staking and participating in the network, you may be able to receive DOT rewards.

Keep in mind

The reason Polkadot can process all of this information is because the many parachains do a lot of the heavy lifting for the main relay chain. As a result the Polkadot network can process more than 1,000 transactions per second, compared to about 7 for Bitcoin and 30 for Ethereum. As the network grows and more parachains are added, Polkadot should get even faster, with speeds that could hit a million transactions per second.

Released: May 2020

Polkadot is on the decline this week.

The price of Polkadot has fallen by 1.82% in the past 7 days. The price declined by 10.05% in the last 24 hours. In just the past hour, the price shrunk by 0.68%. The current price is $40.63 per DOT. Polkadot is 18.23% below the all time high of $49.69.The current circulating supply is 987,579,314.957 DOT.

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