Polkadot

Reasons to Buy Polkadot

• It is among the top 10 cryptocurrencies by market cap.
• It had a massive opening ICO of around $248 million.
• It provides a better rate of transactions per second.
• It has a market capitalization of more than $27.6 billion.
• It has no maximum supply of Polkadot tokens.

Polkadot was founded by a Swiss foundation, Web3, under the leadership of Dr. Gavin Wood. 

Polkadot is an open-source blockchain platform that aims at achieving better scalability than its other competing rivals. This is achieved through specialized parallel blockchains known as parachains.  It allows different kinds of blockchains to connect through Polkadot. This results in better interoperability among the blockchains. Through substrate networks, custom blockchains could be easily and quickly developed. They could be connected to Polkadot’s network in very little time.

Polkadot has its official native utility token named  DOT that is used as a way of providing incentives.

Things to consider before buying Poladot

• Polkadot provides the staking platform that allows people to stake DOT for earning for receiving rewards and more DOTs.
• Anyone can see through their code since it is an open-source platform.
• It is automatically upgraded to implement new features without the need for a fork.

Tags

FAQ's

Disclaimer : Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. The information provided in this post is not to be considered as investment/financial advice from CoinSwitch. Any action taken upon the information shall be at user's own risk.