Polkadot (DOT) is a blockchain platform designed to enable interoperability among different blockchains, facilitating data and value transfers across networks. Developed by Dr. Gavin Wood, Polkadot’s key features include scalability through parachains (parallel blockchains) and a secure consensus model using the Nominated Proof-of-Stake (NPoS) system. Its governance structure is community-driven, allowing stakeholders to propose and vote on network upgrades. DOT serves three main purposes: governance, staking for network security, and bonding for parachain operations. Polkadot’s innovative technology positions it as a key player in the decentralized ecosystem, appealing to developers and investors seeking cross-chain solutions and long-term utility.
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