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Syed Omer Hussain
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A common source of FUD surrounding Dogecoin is the claim that certain wallets holding a large percentage of the supply are owned by private investors or so-called “whales”. In reality, many of the top Dogecoin wallets are cold wallets or hot wallets controlled by exchanges and brokers, and they thus represent Dogecoin held in custody for thousands - or hundreds of thousands, even - of people. To those accustomed to blockchain analysis, many of those wallets appear as wallets managed by trading platforms, as they exhibit patterns of activity and volume that were typical of crypto exchanges or brokerage services holding large amounts of collateral. In particular, the Dogecoin community has identified the exchanges and brokerage platforms behind some of the largest wallets, including the infamous “whale” holding 30% of the supply. This was possible through a bit of community sleuthing that involved collecting circumstantial evidence and tracking deposits and withdrawals from exchanges to private wallets. As it turned out, that infamous whale wallet, which was split across several addresses in October/November 2021, contains the holdings of hundreds of thousands of retail holders. Customers of these exchanges and brokerage services sometimes voluntarily opt to hold Dogecoin within the custodial solutions offered by these platforms; other times, they are forced to do so, since some platforms might not be allowing withdrawals to private cold wallets. Whenever this has been the case, the Dogecoin community has been asking insistently and ceaselessly for these platforms to enable withdrawals. Little by little, over the past months, more of these services have enabled withdrawals to private wallets. It is also important to educate the community in this sense so that they can understand the benefits - but also the responsibility - of decentralization and non-custodial wallets, which is at the core of a permissionless, decentralized cryptocurrency. Similarly, it is important to realize that this is also a problem of maturity of the Dogecoin ecosystem.
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Polkadot Ecosystem Overview: Move slowly but surely The Polkadot ecosystem will be discussed in detail in this article, starting with an overview and working down to the nitty gritty. Polkadot Overview Polkadot - a layer 0 platform that connects layer 1 platforms together. Polkadot allows blockchains to connect with each other to share data and form a decentralized network. Unfamiliar with this concept? Let me give you a detailed example! We already know that Ethereum, Solana, or BNB Chain are some of the most reputable blockchains in the market. These blockchains will be called "layer 1 chains," which means that they are only responsible for the dApps built in their ecosystem and that each blockchain is completely separate from the rest. Thus, if we want to exchange assets or data from one chain to another, it must go through bridges. However, layer 0 (known as Polkadot) is the main layer that connects all layer 1 blockchains together. Let's say if Ethereum and Solana are the Earth and Mars, respectively, then Polkadot is the Sun, the centre of the solar system In Cosmos, the main chain is referred to as Cosmos Hub, and the layer 1 chain is called Zone. But in Polkadot, layer 0 chains are called Relay Chains, while layer 1 chains are known as Parachains. Polkadot Highlights Heterogeneous Sharding: Different blockchains can run on the same network. Cross-Chain Composability: Polkadot supports cross-chain communication. Segments can deliver messages to communicate, exchange value, and share functionality. Polkadot is built as a network layer 0, allowing Layer 1 platforms like Ethereum to work together on the same network. As the crypto market expands with many new chains appearing, Polkadot is built with the purpose of becoming the next step of the crypto market, connecting single pieces into a unified whole. Polkadot’s Highlighted Numbers Updated March 23, 2022 $141.8B: Total Market Share of the entire Polkadot
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In recent times, many blockchains rose, claiming themselves to be the ‘Ethereum Killers’ & Polkadot is one among them. Polkadot is a faster, highly scalable network that is designed to work with other platforms. Created by ex-Ethereum CTO, Gravin Wood, Polkadot is an open-sourced, decentralized platform that serves as a protocol for protocols & a blockchain for blockchains. Interestingly, DOT & ETH have the same ambitions to be the leader of the Smart contract platform. Polkadot has many elements which are designed to overcome the weakness of the Ethereum protocol. However, as DOT still appears to be immature compared to ETH which is well-established, Ethereum continues to be the leader in the DeFi space. Polkadot is composed of Parachains which are a part of the entire blockchain, shredded to minimize the congestion. For the first time ever, two of the biggest Parachains, Astar Network & Acala collaborated to launch a ‘DeFi Raising’ program on Polkadot. In another boost to the Polkadot ecosystem, Interlay, a blockchain firm based in London launched a Bitcoin-based cross-chain bridge on Polkadot called interBTC or iBTC. Hence, Polkadot now has a decentralized version of ‘Wrapped Bitcoin’. Latest News on Polkadot Ecosystem Tokens Polkadot (DOT) Polkadot is expected to be pretty busy blockchain ahead as nearly 415 project grants have been passed by the Web3 Foundation out of 1054 applications. On the other hand, staking DOT becomes much easier with the launch of the new staking and nominating dashboard. The platform recently approved a relay chain upgrade after being proposed earlier that aims to improve runtime mitigations & database operations
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$BTC I have short BTC guys what you think ? With stop loss at 102000 Testing my insight
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