Polkadot
Polkadot is a multichain protocol that enables interoperability between different blockchains, allowing them to transfer data and assets securely. Its unique parachain architecture supports scalability and decentralized governance. DOT is used for governance, staking, and bonding new chains. Polkadot is favored by investors betting on the future of a connected Web3 ecosystem.
| Polkadot | |
|---|---|
| Available on Coinbase (2024)? | Yes |
| Creator(s) | Gavin Wood, Robert Habermeier, and Peter Czaban |
| Start year | 2020 |
| Decentralized score (out of 5) | 3/5: Shared Control |
| Influences or central authority | token holders and the Web3 Foundation. |
| Can be mined? | No |
| New issuance method | Proof of Stake (PoS) |
| Maximum supply (in millions) | None; no fixed maximum |
| Percentage already issued (2024) | Not applicable |
| Key functions (other than transactions) | smart contracts, apps, blockchain interoperability |
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