Recurring market commentary on what's happening in the crypto markets, summarized by Crypto Finance AG Senior Trader Patrick Heusser.
Today we take a look at the DOT token, native to the Polkadot blockchain, which is one of the many tokens we analyse in our sector reports.
A brief introduction to Polkadot
Polkadot is a new generation blockchain protocol that simplifies cross-chain communication and interoperability by bringing multiple blockchains securely and seamlessly into one network. Its aim: to be a framework for all blockchains.
- Sector: Smart contract
- Category: Infrastructure
- Token type: Native
- Token usage: Vote, Payment
- Consensus algo: Proof-of-Stake
Polkadot (DOT) is the native token of the Polkadot blockchain. It is a sharded blockchain, meaning it connects and enables several blockchains to run independently and together in a single network. These blockchains can process transactions in parallel and exchange data between chains with security guarantees, transferring all types of messages between them, across public, open permissionless blockchains as well as private, permissioned blockchains.
The project was started by Ethereum co-founder Dr. Gavin Wood with the ambition of challenging Ethereum’s dominance.
Read the full briefing on Polkadot here (or click the image) in an article from our Sales Trader, Sara Frei.
If you are a professional investor curious about the world beyond the top 5 tokens and would like to learn more or about investing and trading this or other tokens, please contact us.
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