Polkadot (DOT): what it is and how the cryptocurrency of the platform created to connect blockchains works
In Polkadot, other independent blockchains can share information and resources, facilitating the creation of new cryptocurrencies and smart contracts, for example.
Cryptocurrencies
In the world of cryptocurrencies, there have always been many problems to be solved by developers. One of the biggest issues was the inability of blockchains, such as Bitcoin, Ethereum, and others, to connect with each other. Polkadot (DOT) was created to address this point.
Understand, below, what the Polkadot blockchain network is, how it works, and what its main features are.
What is Polkadot?
Polkadot is a blockchain network created to connect other independent blockchains into a network capable of sharing information and resources. In other words, by making this connection, decentralized applications and mechanisms, called DApps, can be executed on the Polkadot network, allowing, for example, the creation of new cryptocurrencies and smart contracts.
The Polkadot network can also conduct financial transactions, just like any blockchain.
Polkadot has its own cryptocurrency, DOT, used for various operations within the blockchain