What is Polkadot?

• A new generation blockchain protocol that simplifies cross-chain communication.

• Describing itself as ‘the blockchain of blockchains’, it’s aiming to overcome a problem in the current blockchain landscape: hundreds of blockchains that exist in isolation.

• Operating on a Proof-of-Stake model, Polkadot provides a more appealing alternative for those with environmental concerns over blockchain’s validated via Proof-of-Work.

Use cases of Polkadot

• Scalability.

• Allow more blockchains to communicate with each other.

• Co-operative shared security model.

Why is DOT getting attention?

• Polkadot raised funds by selling its DOT token, allowing investors to trade since August 2020.

• Since it’s recent launch, DOT has seen listings at over 40 exchanges.

• Highly anticipated developments, such as “parachain slot auctions” coming soon.

History of Polkadot

• Former Ethereum executives, Gavin Wood and Jutta Steiner, lead the DOT project.

• The development began in November 2017, proof-of-concept launched in mid-2018, and token transfers were enabled in August 2020.