Polkadot Giá

What Is Polkadot?

Polkadot is a network protocol launched by the Web3 Foundation that allows the transfer of arbitrary data (not just tokens) across different blockchain platforms. The interoperability Polkadot offers makes it a truly multi-chain medium that enables cross-chain computations, registries, and more. By unifying multiple blockchains, Polkadot aims to achieve a high degree of scalability without compromising on security.

Another of Polkadot’s goals is to eliminate slow communication between public and private blockchains. On its official website, Polkadot describes itself as a protocol that “provides unprecedented economic scalability by enabling a common set of validators to secure multiple blockchains.”

What Is DOT?

DOT is the native token of the Polkadot network. As the maximum number of DOT tokens is not predetermined, these tokens are inflationary in nature. However, the rate of inflation is variable. In the Polkadot ecosystem, the smallest divisible unit of a DOT token is called a “Planck.” One Planck is equivalent to 0.0000000001 DOT.

DOT tokens serve three primary functions:

1. Ensure security and operations of the network via staking
2. Enable holders to control the governance of the network
3. Enable users to connect a chain to Polkadot (as a parachain) via bonding

By staking and participating in the network, users can earn DOT rewards. Most tokens are awarded to validators in the network, and any amount that’s left over is moved to the Polkadot treasury.

What Is DOT Used For?

The DOT token plays a significant role in maintaining and operating the Polkadot network. The most important use/function of DOT is staking. Users who own and stake DOT tokens gain the ability to perform one of the following roles necessary for the network’s operation. In return, all of them receive rewards.

The four main roles are:

Validating Roles

Validators authenticate the data from collators in the parachain blocks, securing the relay chain in turn.

Nominating Roles

Nominators protect the relay chain by selecting reliable validators and delegating the DOT tokens they have staked withthe validators. Hence, nominators assign their votes.

Collecting Roles

Collectors collect shard transactions from various users and produce proof for validators to corroborate transactions.

Fishing Roles

“Fishermen” overlook the network’s behavior and report any suspicious behavior to the validators.

In addition to the above roles, DOT tokens also play a crucial role in governance and bonding.

Who Is the Founder of Polkadot?

The three founders of Polkadot are Dr. Gavin Wood, Robert Habermeier and Peter Czaban. Polkadot (DOT) was first conceived in a white paper published in 2016 by Dr. Gavin Wood, co-founder and former CTO of Ethereum.

In 2017, Gavin Wood founded the Web3 Foundation for research of decentralized web technologies like Polkadot. In addition, in 2015 he co-founded Parity Technologies with Ethereum blockchain’s former head of security, Jutta Steiner. Parity Technologies carried out the bulk of developmental work on Polkadot’s core technology.

In 2018, Parity launched two proofs-of-concept and Polkadot’s first parachain. Subsequently, the beta version of Polkadot was released in May 2020, and token transfers were enabled in August 2020.

How Does the Polkadot Ecosystem Work?

The Polkadot ecosystem enables three types of blockchains to be created.

The Relay Chain

The main Polkadot blockchain, this is the network where transactions are finalized. To attain greater speeds, the relay chain separates the addition of new transactions from their validation. Overall, it helps to achieve consensus and share security across different chain networks.

Parachains

These are custom blockchains that use resources from the relay chain to verify their transactions. These may have their own tokens, with specific use cases.

Bridges

Bridges allow the Polkadot network to communicate and connect with other blockchains. They also enable the exchange of tokens and assets across different blockchains without a central exchange. At the time of this writing (June 14, 2022), some bridges between Polkadot and other blockchains are available. Of note, an Interlay bridge between Polkadot and Bitcoin is in the beta testnet phase, and Snowfork has built a general-purpose connection called Snowbridge between Polkadot and the Ethereum blockchain.

These three components form the basis of the Polkadot ecosystem, enabling Polkadot to integrate with other blockchains for a multi-chain and heterogeneous blockchain solution.

Why Is DOT Valuable?

DOT cryptocurrency plays a vital role in upholding and operating the Polkadot network. Every user who votes and stakes DOT gains the ability to vote on network upgrades, with each vote proportional to the value of the DOT crypto at stake.

The average staking profits on DOT range from 10 to 15% per annum. In addition to staking profits, Polkadot also rewards participants of all four roles with newly-minted DOT. Ultimately, DOT is valuable because it’s the basis for the functioning of the Polkadot network.