Polkadot (DOT) seems to be more aggressive than most altcoins with a triple jump over the past month, making profits almost 500% since August 2020.
In fact, Polkadot is an open-source protocol developed for the public, emphasizing on protection, scalability and innovation.
Developed by two former Ethereum executives, Gavin Wood and Jutta Steiner, Polkadot has two types of blockchain; the main network is known as Relay Chain while the network developed by the user (or individual blockchain) is known as Parachain (parallel blockchain).
This way, it is easier to develop cross-chain applications, products and services. This is a reminder to the K-Pop group that will be releasing a digital collection using Polkadot.
It is important to realize that transactions conducted using this blockchain are much more efficient and closed without the risk of leaking user data to the public network.
DOT, its token was launched in 2017 and managed to raise $ 140 million in Initial Coin Offering (ICO). Later, Polkadot earned $ 100 million in private sales in 2019 and 2020.
If you are wondering if Polkadot is much better than Ethereum and Bitcoin, it may depend on your perception of this blockchain.
Polkadot is an ecosystem that still needs to be explored more deeply because it is too new in this sector. So, only time will tell how far this network can go.
During the launch of the DOT token, the price soared to $ 368 in August 2020 before slightly declining and undergoing a denomination process (the total DOT was broken down to 100), seeing the DOT price offered at $ 2.69.
At the time of writing, DOT is trading at $ 17.53 with fourth place after Tether (USDT). Through a market capitalization of up to $ 15 billion, Polkadot managed to overcome XRP which continued to decline after being sued by the Securities and Exchange Commission (SEC) in December 2020.
