Another new coin has been added to the crypto app BLOX. The Dutch app adds Polkadot to the offer. The currency has only been around since August 2020 and can therefore still go in all directions.
Polkadot an instant success
The Polkadot currency is abbreviated to DOT, and has only been freely tradable since August. The coin was immediately denominated, which means that the new DOT tokens are 100 times smaller than the old ones. Investors who participated in the ICO of Polkadot suddenly had a hundred times more coins, the value of which was of course also divided by one hundred. But in the summer, the crypto world was really looking forward to the launch of Polkadot, the coin immediately stormed into the top 10 in terms of market capitalization. LTC Litecoin is well known in crypto.
Invest in Polkadot with BLOX
BLOX is the all-in-one cryptocurrency app for your smartphone. Trade the most popular cryptocurrencies at lightning speed, including big names such as Bitcoin, XRP and Ethereum as well as smaller coins such as Polkadot, VeChain and Chainlink. Whether you buy for a euro or can lose a thousand euros, you determine your investment. Knowing more?
What is Polka Dot?
Polkadot is a project of the Web3 Foundation and provides a framework for developers to build and merge blockchains. It is maintained by Ethereum co-founder Gavin Wood, Robert Habermeier and Peter Czaban. The latter is the technology director of the Web3 Foundation. Vet Vechain is well known in crypto.
The network enables cross-chain communication and interoperability by connecting multiple blockchains into one unified network. Polkadot wants to distinguish itself with:
cross chain composability
Relay, para and bridges
The Relay chain is the central blockchain of the network where all nodes are located and on which users can stake. Then you have Parachains, these are parallel blockchain shards that connect to the Relay chain. The Parachains are maintained by their own unique nodes, called collators and bridges. These bridges are special blockchains that allow Parachains to connect to Ethereum and Bitcoin.