DOT

Polkadot price

DOT
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$11.05

+$1.19 (+12.06%)

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ALL
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1M
1W
24H
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Market cap
$12.49B
Volume (24h)
$860.35M
Circulating supply
1,112,299,592

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DOT/USDT
₮11.05$11.06
+12.06%
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About Polkadot (DOT)

About Polkadot (DOT)

Polkadot is a sharded, multi-chain network that aims to eliminate the fragmentation seen in the blockchain industry today. The network's native asset, DOT, is used to incentivize participation in consensus, as a medium of exchange and within Polkadot's governance system.

Some of the earliest blockchains remain largely isolated from one another and add blocks sequentially. This creates bottlenecks and congestion, resulting in slower transaction speeds. Polkadot seeks to address this by processing blocks in parallel.

The sharded chains that connect to Polkadot are known as parachains. According to the project's documentation, developers can customize parachains, optimizing them for specific use cases, through the Substrate framework.

Another area in which Polkadot aims to differentiate itself from rivals is through interoperability — i.e., establishing a network of blockchains that can communicate with each other, ensuring that value can be transferred between chains easily.

Polkadot bills itself as "forkless and futureproof." New features can be added to its infrastructure without requiring a hard fork — an often contentious process that involves blockchains splitting into two. This approach could help ensure that Polkadot remains relevant as new technologies emerge.

The DOT token powers the Polkadot network and has several use cases. DOT holders are said to have "complete control" over the protocol, and the token is also used for staking, which creates an incentive for participants to act in the network's best interests. Those who fail to do so incur financial penalties. DOT further serves as a payment method for the fees required to send messages between blockchains.

Separately, DOT can also be staked through OKEx Earn.

DOT price and tokenomics

DOT is an inflationary cryptocurrency and does not have a maximum supply. As of June 2021, the total supply stood at 1.08 billion DOT. Of these, about 955 million were in circulation.

In August 2020, the cryptocurrency underwent a redenomination that affected its overall supply and the DOT price. Every DOT that was already in existence was divided into 100 "new" DOT. This left existing token holders with a balance that was 100 times greater than before. In turn, the cash value of a single DOT became 100 times lower. At the time, those developing Polkadot stressed that this change wouldn't affect an investor's share in the network.

"New DOT" started trading at around $2.69. Byt May 2021, the DOT price reached $49.69.

About the founders

Three individuals founded Polkadot: Robert Habermeier, Gavin Wood and Peter Czaban.

Habermeier has a research and development background in blockchains and is described as a "longtime member of the Rust community." Meanwhile, Wood previously served as the co-founder and chief technology officer of Ethereum — and is president at the Web3 Foundation. He is joined by Czaban, who is the foundation's technology director.

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Polkadot FAQ
What is Polkadot (DOT)?
Polkadot is an open-source network protocol designed to connect different public/private blockchains, blockchain oracles and dApps in order to link all individual blockchains together to form Web3. So how does Polkadot work? Polkadot network has three types of blockchains that support different functions: Relay chain, which is a layer 0 blockchain based on Substrate framework, providing scalability, interoperability and security for layer1 blockchains (Parachains). Parachains are custom blockchains that use relay chain’s computing resources to confirm the accuracy of transactions and are able to be customized by developers through the polkadot substrate. All parachains can interact with each other while connecting with Polkadot network. The third type is Bridges, which allows parachains to communicate with external networks such as Ethereum. DOT crypto is the native cryptocurrency of the Polkadot ecosystem, and it plays a key role in maintaining and operating Polkadot network. People who have and stake Polkadot (DOT) crypto can have voting rights for Polkadot Network upgrades.
Where to buy Polkadot?How to buy Polkadot (DOT) crypto?
Currently, you can buy Pokadot (DOT) crypto on OKX exchange with several steps: -Firstly, create an account on OKX. -Secondly, you need to buy stable coins with fiat. Please go to 'Buy crypto' page, select the fait you wanted to pay with and choose USDT, BTC or ETH, enter the volume you want to buy, then click 'Buy'. -Now you already hold some cryptos, you can go to 'Trade', and find Polkadot crypto in the search box, choose your preferred trading pair (DOT/USDT, DOT/BTC or DOT/ETH). Then, enter the price and amount of DOT token you wanted, and wait for the fulfilment of the order.
How to stake Polkadot (DOT)?
OKX offers you the access to Polkadot staking with low risks, and you can easily stake it by following several steps: 1) Create an account on OKX. 2) Go to 'Trade' page to exchange USDT, BTC or ETH to Polkadot crypto. 4) Once you hold a number of Polkadot crypto, please go to 'OKX Earn' and search DOT in the search bar. You can select the term (flexible or fixed) and amount you want to stake, and finally click the 'subscribe' button.
What is the difference Polkadot vs Ethereum?
Their visions are different. Ethereum focuses on building a platform for DeFi and smart contract, while Polkadot seeks to link all blockchains together.

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Polkadot price statistic

Price today
Polkadot price
$11.05
Price change (24h)
+$1.19
+12.06%
Low and high (24h)
$9.76Low
$11.56High
Volume (24h)
$860.35M
Circulating supply
1,112,299,592
Market cap
$12.49B

Found any mistakes?

Polkadot FAQ
What is Polkadot (DOT)?
Polkadot is an open-source network protocol designed to connect different public/private blockchains, blockchain oracles and dApps in order to link all individual blockchains together to form Web3. So how does Polkadot work? Polkadot network has three types of blockchains that support different functions: Relay chain, which is a layer 0 blockchain based on Substrate framework, providing scalability, interoperability and security for layer1 blockchains (Parachains). Parachains are custom blockchains that use relay chain’s computing resources to confirm the accuracy of transactions and are able to be customized by developers through the polkadot substrate. All parachains can interact with each other while connecting with Polkadot network. The third type is Bridges, which allows parachains to communicate with external networks such as Ethereum. DOT crypto is the native cryptocurrency of the Polkadot ecosystem, and it plays a key role in maintaining and operating Polkadot network. People who have and stake Polkadot (DOT) crypto can have voting rights for Polkadot Network upgrades.
Where to buy Polkadot?How to buy Polkadot (DOT) crypto?
Currently, you can buy Pokadot (DOT) crypto on OKX exchange with several steps: -Firstly, create an account on OKX. -Secondly, you need to buy stable coins with fiat. Please go to 'Buy crypto' page, select the fait you wanted to pay with and choose USDT, BTC or ETH, enter the volume you want to buy, then click 'Buy'. -Now you already hold some cryptos, you can go to 'Trade', and find Polkadot crypto in the search box, choose your preferred trading pair (DOT/USDT, DOT/BTC or DOT/ETH). Then, enter the price and amount of DOT token you wanted, and wait for the fulfilment of the order.
How to stake Polkadot (DOT)?
OKX offers you the access to Polkadot staking with low risks, and you can easily stake it by following several steps: 1) Create an account on OKX. 2) Go to 'Trade' page to exchange USDT, BTC or ETH to Polkadot crypto. 4) Once you hold a number of Polkadot crypto, please go to 'OKX Earn' and search DOT in the search bar. You can select the term (flexible or fixed) and amount you want to stake, and finally click the 'subscribe' button.
What is the difference Polkadot vs Ethereum?
Their visions are different. Ethereum focuses on building a platform for DeFi and smart contract, while Polkadot seeks to link all blockchains together.