๐ดWhat are DOT tokens?๐๐๐
DOT, the native token of Polkadot, is the essential component that brings all these aspects together, including ownership validation, cross-chain interactions, and core layer programming. Validators in the Polkadot blockchain use DOT as a utility token or provide it as collateral to validate the next block of the blockchain. In this sense, the DOT token functions as a proof-of-stake mechanism for the Polkadot platform. Within the system, there are parallel chains, Parachains, which is the name given to each distinct blockchain created using Polkadot.