Polkadot (DOT) is an interoperability technology built to connect blockchains and transfer tokens and data between chains
What is Polkadot?
Polkadot (DOT) is a technology built to connect blockchains and transfer tokens and data between chains. Polkadot is the flagship protocol of the Web3 Foundation. Polkadot is a sharded multichain network, meaning it can process many transactions on several chains at the same time improving scalability. Polkadot allows any type of data to be sent between any type of blockchain, this unlocks a wide range of real-world use cases.
Polkadot was co-founded in 2016 by Ethereum and Web3 Foundation co-founder Gavin Wood, Robert Habermeier, and Peter Czaban. Gavin also invented Solidity, the language used by developers to write decentralized applications (dapps) on Ethereum.
Gavin Woods said of Polkadot, “Polkadot empowers the individual against much more powerful corporate and state actors.”
The Polkadot network is highly flexible and adaptive, allowing sharing information and functionality between participants. A important feature of Polkadot is Polkadot can be upgraded without the need for a fork to implement changes or remove bugs.
With Polkadot, blockchains can offer better service, while also improving efficiency and security.
Communities can customize their blockchain’s governance on Polkadot based on their needs and evolving conditions.
Polkadot pairs are listed on over 100 exchanges, including Binance, Kraken, Huobi Global, KuCoin, Bittrex, and many more. Binance-backed Cere Network is utilizing Polkadot to build its decentralized data cloud platform, which received another round of funding which was recently announced.
To learn more about Polkadot, go to https://polkadot.network