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Polkadot DOT |
BUY
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£0.9361638 |
-1.65% (24h) |
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Marketcap |
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£1,578,006,084 |
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Volume 24h |
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£125,456,479 |
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Description
Polkadot (DOT) is a "layer-0" multichain protocol that enables different specialized blockchains to communicate and share security in a single network. It utilizes "parachains," which are custom blockchains that connect to the central Relay Chain to benefit from its shared consensus and cross-chain interoperability. The DOT token is essential for three main functions: securing the network through staking, participating in governance, and "bonding" to secure a parachain slot. Polkadot aims to create a fully decentralized and interoperable web where any type of data or asset can move seamlessly between different chains.