Polkadot Live Price

What is Polkadot?

DOT coin is a cryptocurrency that emerged from the Polkadot software. Polkadot is a software created to encourage users to operate their own blockchains on top of Polkadot's main blockchain named The Relay Chain.

Polkadot is similar to the Ethereum blockchain in many features, especially the newest version Ethereum 2.0. Both networks use their own blockchain as the main network where transactions occur and they allow for creating other blockchains as well. Also, both blockchain networks have their own currency (DOT coin, in Polkadot) where staking the coin is the main way to validate transactions.

How does the Polkadot cryptocurrency work?

Polkadot has two types of chains; the Relay chain and Parachains. The Relay chain is created by the network itself and it is available to all users. Whereas Parachains are created by users on the network.

Users buy DOTs and stake them to be eligible for one of four roles on the main blockchain. These roles are generally to approve new transactions, nominate others to do the same, and monitor the network.

History ofDOT

Gavin Wood, a co-founder of the Ethereum network, Peter Czaban, and Robert Habermeier created Polkadot in 2016. The goal was to provide a more secured blockchain network. The project was launched in 2020 and DOT coins were sold to investors to finance the project. Popularity of DOT has continued to increase, most recently with the availability on popular exchanges such as Coinbase.

Get Polkadot Price Change Alerts

Verdasi can notify you when DOT goes up or down. Get a text message or email when Polkadot changes in price.

How much is Polkadot worth?

Polkadot (DOT) is worth 17.55 USD as of March 15, 2022, 2:18 am UTC time. View the interactive graph to see how much Polkadot has changed in the last hour or historically. 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.