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What is Polkadot - Polkadot and DOT Explained

Written By Ivan on Tech

Sep 10, 2020

Those who keep an eye on the cryptocurrency market will likely recently have become more aware of Polkadot and the DOT token. Polkadot made the news last week, by suddenly jumping into the Top 10 Cryptocurrency list - going by market capitalization - on CoinMarketCap. Polkadot is an ambitious project which seeks to lay the groundwork for a polychain Web3 future. To learn more about what that means and what the Polkadot coin represents, read on! 

Polkadot was created by Gavin Wood in an attempt to design a more evolved version of Ethereum, which would be interoperable with the existing independent, isolated blockchains such as Ethereum and Bitcoin. In August 2019, Polkadot launched an experimental and unaudited version of its platform known as “Kusama.” Polkadot will launch its genesis block during 2020 with one relay chain and launch several parachains soon afterward, eventually ramping up to 100 parachains.

So, what exactly is the Polkadot token? Why are people...

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