What is Polkadot?
Polkadot is a network protocol that enables the sharing of arbitrary data, not just tokens, through blockchains.
This suggests that Polkadot is a true development framework for multi-chain applications where stuff like cross-chain registries and cross-chain computation are feasible.
This knowledge can be transmitted by Polkadot via both public, free, permissionless blockchains and private, approved blockchains.
This allows apps to be developed that receive approved data from a private blockchain and use it on a public blockchain. For example, the private, authorized academic documents chain of a school might submit information on a public chain to a degree-verification smart contract.
Features of Polkadot
A network of heterogeneous blockchains called parachains and parathreads holds Polkadot together. The Polkadot Relay Chain binds to and is protected by these links. They can attach through bridges to external networks as well.
The center of Polkadot, the relay chain, is responsible for the mutual stability, agreement and cross-chain interoperability of the network.
Parachains are sovereign blockchains which for particular use cases, may provide their own tokens and customize their features.
Parathreads are similar to parachains, but with the model of pay-as-you-go. For blockchains that don’t require constant network access, they are more economical.
Enable parachains and parathreads to link to external networks such as Ethereum and Bitcoin to interact with them.
The Technology behind Polkadot and the DOT token
The relay chain, Polkadot, is developed with Substrate, a blockchain-building system that distills the learning of Ethereum, Bitcoin, and business blockchains from Parity Technologies.
The Polkadot state machine is compiled into a super-performing virtual environment, WebAssembly (Wasm). Wasm is established by major organizations that have built a broad community of support for the standard, including Google, Apple, Microsoft, and Mozilla.
Networking at Polkadot uses libp2p, a lightweight peer-to-peer network architecture for cross-platform applications. Positioned as the standard for potential decentralized apps, libp2p manages the Polkadot ecosystem’s peer exploration and collaboration.
Polkadot is coded in Rust, C++, and Golang, rendering Polkadot open to a large range of developers.
What is the circulation of Polkadot (DOT) tokens?
Polkadot currently has 1 billion DOT tokens allocated, following the original limited availability of 10 million in August 2020.
To prevent the use of tiny decimals to render measurement simpler, the redistributed was done. Although all the balances were raised by a factor of one hundred, the distribution of DOT or the relative share of the holders was not changed by this.
How is the Network Validated by Polkadot?
The mass interoperability of Polkadot across a series of standard validators allows to protect its various blockchains and enables them to scale up their transactions by spreading their data over several parachutes.
In order to pick validators and nominators and optimize chain security, the network uses the NPoS (nominated proof-of-stake) protocol.
This unusual validity scheme allows chains under the same laws to communicate safely with each other, and remain separately controlled.
Where can Polkadot (DOT) be purchased?
Binance, Huobi Global, HBTC, OKEx and Binance.KR are the top exchanges for Polkadot (DOT) trading at present.