If you're looking to swap Polkadot, SwapSpace is your one-stop-shop. We have some light reading for you - in case you'd want a refresher on what is Polkadot or some fresh information about dot’s price movements. And, of course, we provide you with the multiple Polkadot exchange options so that you can choose the offer with the best rates and lowest Polkadot fees, as well as other parameters that suit you.
Polkadot Price Stats
Polkadot Price Chart
Here you can see the current price of Polkadot, as well as Polkadot price history.
What is Polkadot?
Polkadot is an open-source shared multi-chain protocol that connects and secures a network of the other networks, thus providing a cross-chain transfer of the data or the assets, so the networks become interoperable with each other. The project was created to be a foundation for the decentralized internet of blockchain also known as Web3. It can connect public and private chains, permissionless networks.
The project’s data availability and validity schemes allow chains to interact with each other while remaining independent in their governance. Parachains (parallel chains) share the security, but have their own governance tokens and can be optimized for specific goals. At the end of 2021 Polkadot successfully held parachain auctions and signed the first five slots to the auction winners (Parallel, Acala, Moonbeam, Clover, and Astar).
Polkadot is a layer-0 underlying metaprotocol that describes the format of the layer-1 parachains. An important feature of the network is its possibility to autonomously and forklessly update its one code through the on-chain governance.
Another significant advantage of Polkadot is its scalability, achieved by enabling the sets of validators to secure multiple networks. Polkadot spreads the transactions across multiple parallel blockchains. Thanks to the substrate network, the users can easily create their own custom networks, thus helping the network to grow.
Compared to the other blockchains, and thanks to the nominated proof-of-stake model, Polkadot consumes much less energy and has the lowest carbon footprint among proof-of-stake protocols.
DOT is a native token of the Polkadot blockchain and it’s used for 3 main purposes: staking for operations and security, facilitating decentralized governance, and bonding the assets to connect the parachains.
A Simple Way To Exchange Polkadot Here At SwapSpace
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