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Polkadot is a Web3 Foundation project that implements Dr. Gavin Wood’s concept of a new decentralized internet. After leaving the Ethereum project in 2016, Gavin Woods, together with a team of fellow developers started to work on the Polkadot network. The main goal of the project is to create a toolkit for the new decentralized Internet interconnecting isolated blockchains with each other.
The project has moved to the deployment stage in 2020, and now you can purchase Polkadot (DOT) token. It is used for governance, staking and bonding on the network. From the start of trades in August 2020, it quickly took a place among the top 10 cryptocurrencies in capitalization. You can exchange the crypto you already have or buy Polkadot with debit card - such an option is available for ChangeNOW customers!
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Before Polkadot, dr. Gavin Wood worked on the Ethereum project, envisioning the same foundational goal of creating a new iteration of the internet, that is decentralized and interconnected. For this kind of internet to exist, two problems have to be solved first - scalability and isolation of different blockchains. And this is where Polkadot comes into play. It provides a toolkit to create bridges connecting blockchains, allowing the transfer of tokens and even arbitrary data.
You could not buy Polkadot and trade it before August 2020, but now it is fully available for investors. A distinctive feature of this project is that it offers a whole system of solutions and tools that can allow you to connect the currently disparate decentralized web. Polkadot itself serves as a relay chain, linking and distributing traffic between other chains. Developed by Web3 Foundation and partners, the project lays a well-thought-out and original governance system in the network protocol foundation. You can read more about this on the official website of the network.
You can buy DOT and use it for trading and staking, or participate in the governance of the network. Polkadot network is one of the most ambitious blockchain projects and its prospects potentially reach far beyond the cryptocurrency market. Therefore, if you buy DOT, you might invest not only in a new currency but in a potential breakthrough within the virtual space.