Hello, Binancians!
#polkadot HELP!
I would like to talk about the polkadot system
$DOT . I would like to hear your opinions regarding this network system that allows the interconnection of different blockchains. It currently sits in 15th place by market cap, so it's still a solid project. Since it was born, I immediately participated in many auction and crowdloan projects of both polkadot and its canary parachain to win many new coins that were presented. In fact, for those who don't know the Polkadot system, Polkadot is a kind of internet of blockchains that allows you to connect different projects together and allows you to build new ones in its ecosystem
PARACHAIN
Each parachain can be occupied for a limited period of time of 6 months, but each project can obtain up to a maximum of 4 slots, bringing the lease period to a total of 2 years
In order for a blockchain to become a parachain within the
#Polkadot ecosystem, it is necessary to participate in auctions that allow you to win a time slot within the blockchain relay.
This concept applies to both
$DOT and its parachain
$KSM When you participate in an auction you must bind dot or ksm coins which are used to raise funds for the new project. If the project reaches the required number of coins and wins the slot in
#parachain , you will have a prize in coins from the new project and the dot or ksm coins committed for participation will be tied up for 2 years in the case of dot and 1 year for ksm , to be returned in full at the end of the bond.
rationally there is a free profit, at the expense of a mandatory 1 or 2 year constraint of one's coins
when I participated in the KSM auctions, this coin was worth much more, reaching peaks of even $600, but now it has remained at a stable value of $30
In your opinion, is it worth continuing to invest in dot and ksm? Will it really be a revolutionary project? Or will it be replaced by new projects? I accept analysis and advice, thanks everyone!