What is Polkadot ? Update the latest information about Polkadot coin (DOT)

What is Polkadot ? Update the latest information about Polkadot coin (DOT)

What is Polkadot – Over the years, many new coins have been born and circulated on the market, including Polkadot. However, not everyone understands this virtual currency and its highlights. If you too and are interested in Polkadot, you can follow the following article!

Learn about the virtual currency Polkadot

What is Polkadot coin?

Are you wondering? What is Polkadot coin?? Polkadot or DOT for short is a fairly prominent blockchain on the market today. This is a multi-chain (multi-Chain) blockchain technology, or simply, DOT is the blockchain of many blockchains.

So “What is Polkadot coin?”

The Polkadot blockchain currently has two important characteristics, which are heterogeneous as well as scalability. This has been of great help in connecting individual blockchain chains together. At the same time, DOT also allows these components to exchange data across the chain.

Highlights of Polkadot

Network of Polkadot ecosystemconsists of 4 main components, which are:

Validators:

• Responsible for producing Relay Chain blocks and validating, adding new blocks and in Relay Chain

Collectors:

• Perform the task of monitoring transactions on Parachain, and send back to Validators proofs for the purpose of ensuring network security.

Nominator:

• Have the responsibility to nominate the Validator, similar to when authorizing the shares you own for other Validators. The rewards that Validators receive through adding new blocks and validating will be partially used for Nominator

Fisherman:

Monitor and monitor the network and promptly notify Validators if violations are detected. Any Parachain Full node can become a Fisherman

DOT coin has many outstanding advantages

Remind mei Polkadot coin many highlights can be mentioned. Those are also the points that make this coin valuable.

Fast transaction processing:

• The transaction processing speed of DOT is extremely fast, specifically, in 1 second this blockchain can process about 1,000 transactions, 10 times the speed of Ethereum. The reason DOT processes transactions so quickly and efficiently is thanks to the parachain structure

Large scale:

• Since DOT is a multi-chain blockchain that can connect multiple blockchains together, it easily sets the stage for network scaling in the future.

High reliability:

• It is often difficult for new blockchains to build large networks and communities and to build trust with stakeholders. However,

Polkadot project

• Overcame this problem by connecting resources from multiple chains through Relay Chain

Flexible interaction:

• The next plus of DOT is that it can cross-chain a variety of tokens, assets or data. Transactions on blockchains are processed in parallel, completely solving the problem of scale that still exists on Ethereum

Framework Substrate:

• The time to create a new blockchain is very short, only a few minutes thanks to Substrate

Upgrade without fork:

• Unlike the traditional network,

Polkadot

• No need for hard fork when fixing bugs or adding new features

Security:

• Although the networks are still administratively independent, security is still very high. Currently, what Pow or PoS often encounters is not large enough to ensure the security factor, causing significant difficulties with the development of new and small projects. However, this problem will be solved by Polkadot coin

Authorization Administration:

Polkadot allows each individual participating in the network to have rights, a voice and to contribute to the system through votingNominated Proof-of-Stake (NPoS): This is a mechanism to delegate their stakes to 1 person. Validator and somewhat similar to DPoS. The purpose of delegating is so that the block reward can be obtained later. However, the Validators have a feature that is selected from the qualified people completely at random and can change several times a day.

Polkadot coin details

Name, supply, contract Polkadot

Polkadot whose symbol on exchanges is DOT. The maximum total supply of Polkadot coin is 1,027,126,507 DOT and the circulation is around 946,178,032 DOT. In which, the amount of DOT is distributed as follows:

Polkadot Auction: 50%Web3 Foundation: 30%Further Pre-launch Distributions: 20%

Distribution of DOT coin on the market

Details:

Token Name: PolkadotTicker: DOTBlockchain: Polkadot (DOT token standard)Token Standard: Updating…Contract: Updating…Token Type: Utility, Governance Market Cap: 4,593,437,454 USD Circulating Supply: 946,178,032 DOTMaximum Supply: 1,027. 126,507 DOT

Current rate

To know the current rate of Polkadot coin today, you can refer to the following image:

Rate of DOT coin

Note, this is only the rate of Polkadot coin at the moment. The rate of Polkadot coin at different times will be different, may increase or decrease depending on the market. To accurately refer to the Polkadot coin at:

How to own and trade Polkadot

Unlike ETH or BTC, dong Polkadot coin cannot be dug. So, if you want to own DOT, you can buy it at traditional or decentralized virtual currency exchanges. Here are some DOT exchanges that you can refer to: https://coinmarketcap.com/currencies/polkadot-new/

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Binance:

• DOT/BTC, DOT/BNB, DOT/ USDT, DOT/BUSD, DOT/EUR, DOT/BIDR, DOT/BKRW

Huobi Global:

• DOT/BTC, DOT/USDT, DOT/HUSD

Kucoin:

• DOT/BTC, DOT/USDT

PancakeSwap:

DOT/WBNB

Roadmap and team of developers

Roadmap of Polkadot

The official roadmap of Polkadot coin is published as follows:

July 2020:

• Implemented Mainnet Deployment

December 2020:

Performing testnet deployment of Parachain Rococo V2

Besides, in the near future Polkadot will also have many interesting activities such as:

Implement Proof-of-Authority (PoA)Implement Nominated Proof-of-Stake (NPoS)Support for money transfer, Polkadot balanceImplement all Relay Chain features

Team developer / backer(if) by Polkadot

Team developer of Polkadot coin with the contribution of many talented people in the industry. The most prominent include:

Dr. Gavin Wood:

• He currently holds the position of CEO of

Polkadot

• . At the same time, he is also the co-founder and former CTO of Ethereum, co-founder of Parity Technology, chairman of the investment fund Web3 Foundation and one of the people who laid the foundation for the blockchain industry, contributing to the development of the blockchain industry. development of Solidity language

Robert Habermeier:

• Member of Peter Thiel’s Investment Fund, and co-founder of Polkadot

Peter Czaban:

Received a master’s degree from the prestigious University of Oxford in computer science. He is also very interested and focused on both Machine Learning and is currently the CTO of Web3 Foundation

Team developer of Polkadot coin

Supporting the development of Polkadot is also the contribution of many different prestigious organizations:

Web3 Foundation:

• Large investor, has joined the organization to support and develop many technologies for the blockchain industry founded and run by CEO Gavin Wood of Polkadot

Binance:

• Officially invested in projects on the platform

Polkadot ecosystem

• with an amount of up to 10 million USD, and also change the transaction on the system from ETH/BUSD to DOT/BUSD

MathWallet:

Invest capital in the DOT . system

Closing and Disclaimer

With the above detailed information, you must have gained more knowledge about Polkadot coin. It can be seen that although this virtual currency has not been launched on the mainnet, it is still worth looking forward to and receiving a lot of attention from investors.

Disclaimer: This information is for reference only. We do not offer any advice or recommendations. The decision to invest in Polkadot coin or not is up to you. So any results from your investment in this virtual currency we are not responsible for.

Currently, the Vietnamese state does not provide legal support for any electronic currency, you still have the right to mine and use it, however, when there is a dispute or conflict, the state has no obligation to assist in resolving these issues. this problem.