Polkadot
ATH / ATL
24h Price
24h summary
Over the last 24 hours, Polkadot moved from $0.795 to $0.758. The session high was $0.797, the low was $0.751, and the intraday range was $0.046 / 5.8%.
- 24h open
- $0.795
- 24h close
- $0.758
- 24h high
- $0.797
- 24h low
- $0.751
- Volatility / range
- $0.046 / 5.8%
- Updated
Monthly Returns heatmap
Heatmap summary
Polkadot posted 28 positive months out of 72. The longest positive streak lasted 5 months, while the longest negative streak lasted 7 months.
- Strongest month
- Aug 2020 +200.1%
- Weakest month
- May 2021 -36.3%
- Longest positive streak
- 5 Nov 2020 — Mar 2021
- Longest negative streak
- 7 Mar 2023 — Sep 2023
- Luckiest calendar month
- Aug • avg 38.8% • 6 mo.
- Unluckiest calendar month
- Jun • avg -20.4% • 6 mo.
Networks
Supported exchanges
About the coin
Polkadot is a blockchain interoperability protocol that connects various independent blockchains into a single, unified network. Its architecture is designed to enable scalability, security, and seamless communication between different blockchain ecosystems.
The core innovation of Polkadot lies in its sharded multichain architecture. This allows for parallel processing of transactions across multiple specialized blockchains, known as parachains. Each parachain can be optimized for specific use cases, such as decentralized finance (DeFi), supply chain management, or gaming, while still benefiting from the shared security of the Polkadot network.
The network consists of several key components. The Relay Chain is the central chain that provides shared security and consensus for all connected parachains. It acts as the backbone of the Polkadot ecosystem.
Parachains are individual blockchains that connect to the Relay Chain. They can have their own logic, tokens, and governance, but they leverage the Relay Chain's security and interoperability features. This modular approach allows for greater flexibility and innovation within the blockchain space.
Bridges are another critical element, enabling Polkadot to connect with external blockchains, such as Bitcoin and Ethereum. This extends the interoperability beyond the Polkadot ecosystem itself.
Polkadot's consensus mechanism, Nominated Proof-of-Stake (NPoS), is designed to be efficient and secure. It allows token holders to participate in network security by nominating validators, incentivizing honest behavior and deterring malicious activity.
The native cryptocurrency of the Polkadot network is DOT. DOT plays a crucial role in the ecosystem, serving multiple functions:
- Governance: DOT holders can participate in the on-chain governance of the Polkadot network, voting on proposals related to upgrades and parameter changes.
- Staking: DOT is used for staking to secure the network through the NPoS mechanism.
- Bonding: DOT is required to bond parachains to the Relay Chain, facilitating their connection and participation in the network.
The development of Polkadot is driven by the Web3 Foundation, an organization dedicated to fostering a decentralized web. The project aims to create a more open, secure, and user-centric internet by enabling a new generation of decentralized applications and services.
Polkadot's interoperability features are particularly significant for the broader adoption of blockchain technology. By allowing different blockchains to communicate and share data, Polkadot can unlock new possibilities for cross-chain applications and services, leading to a more interconnected and efficient digital landscape.
The flexibility of parachains allows developers to build specialized blockchains tailored to their specific needs, without having to worry about the complexities of building and securing an entire blockchain from scratch. This significantly lowers the barrier to entry for new blockchain projects.
Security is a paramount concern for Polkadot. The shared security model means that all parachains benefit from the robust security provided by the Relay Chain and its NPoS consensus. This collective security approach is more efficient than each individual blockchain having to secure itself independently.
The Polkadot network also supports smart contracts, allowing for the development of complex decentralized applications. This enables a wide range of functionalities, from decentralized exchanges and lending protocols to gaming and NFTs.
Polkadot's vision extends to creating a truly decentralized internet where users have more control over their data and digital identity. The ability for diverse blockchains to work together is a fundamental step towards achieving this goal.
The DOT token exists on multiple chains as a token, including as an ERC-20 token on Ethereum and a BEP-20 token on BNB Smart Chain, in addition to its native presence on the Polkadot Asset Hub.
Trust & methodology
Last updated:
Data source: Price and volume snapshots are sourced from Binance using the DOTUSDT market feed.
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