Modified on: Fri, 22 Sep, 2023 at 3:30 PM
DOT is the native token of the Polkadot network. Polkadot is focused on scalability, security, and innovation and is creating the necessary infrastructure to facilitate trustless, decentralized cross-chain interoperability. The open-source sharded blockchain protocol unites an entire network of diverse blockchains into a single decentralized ecosystem that allows the transfer of any data or asset across the whole network. Polkadot aims to help different blockchains work together efficiently and securely at scale. DOT is used for governance, staking, and bonding on the Polkadot network. DOT is the token that drives the entire Polkadot ecosystem and directly facilitates the operations of Polkadot’s complex network of relay chains, parachains, and bridges. Launched in 2016, Polkadot is the brainchild of Ethereum co-founder Dr.Gavin Wood who views Polkadot as the next-generation version of Ethereum. While the creators of Polkadot have said that DOT is not a token designed for speculation, its value may change as the demand and capabilities of the Polkadot ecosystem grow.
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