Polkadot

Polkadot is an open source sharding multi-chain protocol that combines multiple blockchain platforms into a unified and scalable network, not only tokens, any data or asset types can be transmitted across chains, enabling various Blockchains can interoperate. This interoperability aims to establish a fully decentralized proprietary network controlled by its users and to simplify the creation of new applications, institutions and services.
The Polkadot protocol connects public chains, private chains, permissionless networks, oracles, and any network that may emerge in the future, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain.
In simple terms, Polkadot is a "blockchain of blockchains" that allows many different types of chains to work and interact securely within the same ecosystem.
<h4 class="ql-long-58030660" data-header="4">Polkadot Architecture</h4>
Polkadot is a heterogeneous multi-chain network, which means it connects various blockchains designed for a specific purpose into a single ecosystem. These different layer 1 blockchains are called parachains because of the way they process transactions in parallel, and are linked together by the Polkadot relay chain.
Polkadot has four core components:
Relay Chain: The "heart" of Polkadot, helping to create consensus, interoperability and shared security across networks of different chains;
Parachains: independent chains that can have their own tokens and are optimized for specific use cases;
Parathreads: similar to parachains, with flexible connections based on a pay-as-you-go economic model;
Cross-chain bridge: Allows parachains and parathreads to connect and communicate with external blockchains such as Ethereum.
<h4 class="ql-long-58030660" data-header="4">Polkadot consensus</h4>
Polkadot uses Nominated Proof of Stake (NPoS), adding the roles of validators and nominators to maximize the security of the chain. Four roles and roles in Polkadot NPoS:
Validators
Validators secure the relay chain by staking native tokens (DOT). If elected to the active set, they verify proofs of proofreaders on parachains, participate in consensus with other validators, and produce blocks on the relay chain. In return, they get staking rewards.
Nominators
Nominators also contribute to the security of the network by staking their DOTs to support trusted validators, helping them enter the active validator set. In return, nominators typically receive a portion of the staking reward from that validator.
Collators
Collators collect parachain transactions and generate proofs for validators on the relay chain. They can also send and receive messages from other parachains using the Cross-Chain Messaging Protocol (XCMP).
Fishermen
Fishermen monitor the network and report bad behavior to validators. Any parachain full node can play the role of fisherman.
<h4 class="ql-long-58030660" data-header="4">DOT tokens</h4>
Polkadot's native DOT token serves three purposes: keeping the network running and secure, staking DOT to connect the chain to Polkadot as a parachain and holders' voting rights in network governance. DOTs are inflationary, which means that unlike Bitcoin, there is no maximum amount of DOTs. The inflation rate is not fixed: it is designed to be 10% in the first year. The generated DOTs are used to reward validators, and the rest will go to the treasury.

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Robert Habermeier is a Thiel Scholar and co-founder of Polkadot. He has a background in blockchain, distributed systems and cryptography and is a longtime member of the Rust community. He focuses on leveraging the capabilities of languages to build highly parallel and high-performance solutions.

Robert Habermeier

Peter is the Technical Director of the Web 3 Foundation, responsible for supporting the development of next-generation distributed technologies. He earned a master's degree in engineering from Oxford University, reading engineering science with a focus on Bayesian machine learning. He has worked in the defense, finance and data analytics industries, responsible for mesh networks, distributed knowledge bases, quantitative pricing models, machine learning and business development.

Peter Czaban

Gavin Wood, co-founder of Ethereum, founder of Ethereum client Parity, founder of Polkadot, founder of Web3.js, fluent in English, Italian, French, Spanish, logic, designer of Milton Keynes, He also has a PhD in visual music and is the author of the CD RiplnPleace. Gavin met Vitalik on a friend's recommendation, joined Ethereum, and then Ethereum began to get on the right track. Gavin wrote about it on his blog: And Ethereum has dominated my life since. Gavin wrote the Yellow Book on Ethereum. Yellow books focus on technical specifications, mathematical formulations and other details. He created EVM (Ethereum Virtual Machine) and Solidity, a smart contract language, as well as web3.js, which supports EVM in JS. Now Web3 has been implemented in different programming languages, including Java, Python and so on.

	Rank	Source	Price	24h	Volume(24H)	Trading Percent	Updated
1	Binance	1	Binance	DOT/USDT	4.1160	-2.3%	$14,774,518.67	8.1052%	2024-10-25 22:36:14
2	OKX	2	OKX	DOT/USDT	4.1150	-2.42%	$3,212,272.59	1.7622%	2024-10-25 22:36:13
3	Bitget	3	Bitget	DOT/USDT	4.1150	-2.42%	$2,929,499.46	1.6071%	2024-10-25 22:36:03
4	Gate.io	4	Gate.io	DOT/USDT	4.1160	-2.44%	$1,987,585.73	1.0904%	2024-10-25 22:36:23
5	CoinW	5	CoinW	DOT/USDT	4.1136	-2.46%	$1,602,499.5	0.8791%	2024-10-25 22:36:12
6	Upbit	6	Upbit	DOT/KRW	5,759	-1.15%	$1,298,795.97	0.7125%	2024-10-25 22:18:34
7	Kraken	7	Kraken	DOT/USD	$4.10	-2.6%	$1,093,700.14	0.6000%	2024-10-25 22:35:00
8	KuCoin	8	KuCoin	DOT/USDT	4.1149	-2.4%	$927,037.16	0.5086%	2024-10-25 22:33:56
9	Crypto.com Exchange	9	Crypto.com Exchange	DOT/USDT	4.1169	-2.39%	$487,540.86	0.2675%	2024-10-25 22:35:27
10	MEXC	10	MEXC	DOT/USDT	4.1160	-2.49%	$465,012.67	0.2551%	2024-10-25 22:29:20
11	HitBTC	11	HitBTC	DOT/USDT	4.1129	-2.39%	$377,443.06	0.2071%	2024-10-25 22:35:29
12	Binance	12	Binance	DOT/USDC	4.1100	-2.42%	$359,582.78	0.1973%	2024-10-25 22:35:54

	Volume(24H)	Trading Percent
OKX	OKX	$3,348,116.34	3.7692%	Visit
Binance	Binance	$15,915,503.15	17.9173%	Visit
Bitfinex	Bitfinex	$11,307.14	0.0127%	Visit
Kraken	Kraken	$1,442,364.97	1.6238%	Visit
Gate.io	Gate.io	$1,988,827.39	2.2390%	Visit
KuCoin	KuCoin	$989,686.14	1.1142%	Visit
Crypto.com Exchange	Crypto.com Exchange	$732,533.73	0.8247%	Visit
Bitget	Bitget	$2,996,814.71	3.3737%	Visit
MEXC	MEXC	$475,415.9	0.5352%	Visit
BingX	BingX	$353,305.2	0.3977%	Visit
Upbit	Upbit	$1,303,314.73	1.4672%	Visit

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