{"id":2306,"date":"2021-02-26T00:04:30","date_gmt":"2021-02-25T22:04:30","guid":{"rendered":"https:\/\/walloftraders.com\/blog\/?p=2306"},"modified":"2023-02-07T10:57:34","modified_gmt":"2023-02-07T09:57:34","slug":"what-is-polkadot-dot-a-web-for-all-blockchains","status":"publish","type":"post","link":"https:\/\/walloftraders.com\/blog\/en\/what-is-polkadot-dot-a-web-for-all-blockchains\/","title":{"rendered":"What is Polkadot (DOT)? A web for all blockchains"},"content":{"rendered":"\n<p class=\"has-very-dark-black-color has-text-color\">Created by <strong>Gavin Wood<\/strong>, cofounder of Ethereum, <strong>Polkadot <\/strong>is a<strong> <a href=\"https:\/\/walloftraders.com\/blog\/en\/our-top-5-crypto-of-2023\/\">cryptocurrency <\/a><\/strong>that raised<strong> $144.3 million <\/strong>in October 2017. This money has been found thanks to an I<strong>nitial Coin Offering<\/strong> (<strong>ICO<\/strong>) which is the equivalent of a <strong>crowdfunding <\/strong>for <strong>cryptocurrencies<\/strong>.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-polkadot-dot-a-web-for-all-blockchains\/#Polkadot_to_unify_all_the_blockchains\" >Polkadot : to unify all the blockchains<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-polkadot-dot-a-web-for-all-blockchains\/#DOT_the_Token\" >DOT : the Token<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"polkadot-to-unify-all-the-blockchains\"><span class=\"ez-toc-section\" id=\"Polkadot_to_unify_all_the_blockchains\"><\/span>Polkadot : to unify all the blockchains<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\"><strong>Polkadot <\/strong>is a <strong>multi-chain software<\/strong> or a <strong>cross-chain network<\/strong> whose aim is to <strong>connect multiple specialized blockchains<\/strong> into a <strong><a href=\"https:\/\/polkadot.network\/\">single unified network<\/a><\/strong>.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">Before <strong>Polkadot<\/strong>, all the other blockchains were operating <strong>independently <\/strong>and<strong> in isolation<\/strong>. There is no communication between blockchains, neither is sharing of data nor is transactions between them. Value sharing is impossible.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-large is-resized\"><img decoding=\"async\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4.png\" alt=\"Polkadot logo : letter P\" class=\"wp-image-2309\" width=\"185\" height=\"186\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4.png 564w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-298x300.png 298w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-150x150.png 150w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-86x86.png 86w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-60x60.png 60w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-70x70.png 70w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/02\/image-4-370x370.png 370w\" sizes=\"(max-width: 185px) 100vw, 185px\" \/><\/figure><\/div>\n\n\n<p class=\"has-very-dark-black-color has-text-color\">Now for the first time, Polkadot provides<strong> cross-chain interoperability<\/strong>. Polkadot will allow any blockchain, public or private, whether with permission and permission less, oracles and decentralized applications to communicate with each other and connect in a trustless and decentralized connection. An example could be a <strong>Smart Contract<\/strong> event triggering a <strong>Bitcoin <\/strong>payment.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\"><strong>Polkadot <\/strong>can be called <strong>the internet of blockchains<\/strong>. It is called so because of its ability to provide an interoperable network connecting all the blockchains. Polkadot achieves this by having three layers on its system. The Relay Chain being the core layer of the system takes the role of overlooking all network transactions. It ensures data standardization for every system to understand.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\"><strong>Parachains <\/strong>are individual blockchains connected in parallel. They allow multiple chains to run simultaneously to enable scalability and increase transaction speed. <strong>Parachains <\/strong>can be sold, buyer cryptocurrency companies then modify them to fit their needs.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">Polkadots uses <strong>Bridges <\/strong>to connect to established blockchains like Bitcoin. Bridges write a Break-in and Break-out Smartcontracts that allows communication of blockchains with the Polkadot network.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"dot-the-token\"><span class=\"ez-toc-section\" id=\"DOT_the_Token\"><\/span>DOT : the Token<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">DOT is the network <strong>Token <\/strong>and plays three roles on the network.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">It is used for <strong>governance <\/strong>in the Polkadot network. DOT holders vote on the network governance for upgrades and network fees. Votes are weighted by the token amount one owns.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">DOT&#8217;s other use is <strong>staking<\/strong>. Holders can stake their tokens as validators and nominators. Validators take part in the making or production of new blocks. Nominators\u2019 presence is to back up the validators. Both parties provide essential security functions and receive DOTS in reward.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">The DOT Token is additionally for <strong>bonding<\/strong>. As mentioned before, Parachains can be purchased. DOTS have to be bond to tie DOT Tokens to the relay chain to create a Parachain. Out-dated or non-useful Parachains are eliminated by removing the bonded token.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-css-opacity\"\/>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">You just learned what is Polkadot and his token DOT, hope you liked it.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\">Share this article, or if you have any remark or question, just write a comment, we will all answer you.<\/p>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\" id=\"block-e914f95e-f7e3-4136-9744-b4b3d52226d1\">To learn more about the main <strong>cryptocurrencies <\/strong>: <a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-bitcoin\/\">Bitcoin<\/a>, <a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-ethereum-smart-contracts-decentralized-applications\/\">Ethereum<\/a>, <a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-binance-coin-bnb\/\">Binance Coin<\/a>, <a href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-cardano-ada-open-source-blockchain\/\">Cardano<\/a>.<\/p>\n\n\n\n<hr class=\"wp-block-separator\" id=\"block-3a70b497-6891-4420-bfcc-ff208a26174f\"\/>\n\n\n\n<p class=\"has-very-dark-black-color has-text-color\" id=\"block-6ceaf8e1-b08d-4468-9d72-fd30f07e4b5f\"><em>This article is not investment advice. Do your own research before investing in the cryptocurrency market.<\/em><\/p>\n\n\n\n<div class=\"swp_social_panel swp_horizontal_panel swp_flat_fresh  swp_default_full_color swp_individual_full_color swp_other_full_color scale-100  scale-\" data-min-width=\"1100\" data-float-color=\"#ffffff\" data-float=\"none\" data-float-mobile=\"none\" data-transition=\"slide\" data-post-id=\"2306\" ><div class=\"nc_tweetContainer swp_share_button swp_twitter\" data-network=\"twitter\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intent\/tweet?text=What+is+Polkadot+%28DOT%29%3F+A+web+for+all+blockchains&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F&via=WallOfTraders\" data-link=\"https:\/\/twitter.com\/intent\/tweet?text=What+is+Polkadot+%28DOT%29%3F+A+web+for+all+blockchains&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F&via=WallOfTraders\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_twitter_icon\"><\/i><span class=\"swp_share\">Tweet<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_facebook\" data-network=\"facebook\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F\" data-link=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_facebook_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_linkedin\" data-network=\"linkedin\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F\" data-link=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_linkedin_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_pinterest\" data-network=\"pinterest\"><a rel=\"nofollow noreferrer noopener\" class=\"nc_tweet swp_share_link noPop\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fwhat-is-polkadot-dot-a-web-for-all-blockchains%2F\" onClick=\"event.preventDefault(); \r\n\t\t\t\t\t\t\tvar e=document.createElement('script');\r\n\t\t\t\t\t\t\te.setAttribute('type','text\/javascript');\r\n\t\t\t\t\t\t\te.setAttribute('charset','UTF-8');\r\n\t\t\t\t\t\t\te.setAttribute('src','\/\/assets.pinterest.com\/js\/pinmarklet.js?r='+Math.random()*99999999);\r\n\t\t\t\t\t\t\tdocument.body.appendChild(e);\r\n\t\t\t\t\t\t\" ><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_pinterest_icon\"><\/i><span class=\"swp_share\">Pin<\/span><\/span><\/span><\/span><\/a><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Created by Gavin Wood, cofounder of Ethereum, Polkadot is a cryptocurrency that raised $144.3 million in October 2017. This money has been found thanks to an Initial Coin Offering (ICO) which is the equivalent of a crowdfunding for cryptocurrencies. Polkadot : to unify all the blockchains Polkadot is a multi-chain software or a cross-chain &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"What is Polkadot (DOT)? A web for all blockchains\" class=\"read-more button\" href=\"https:\/\/walloftraders.com\/blog\/en\/what-is-polkadot-dot-a-web-for-all-blockchains\/#more-2306\" aria-label=\"More on What is Polkadot (DOT)? A web for all blockchains\">Read more<\/a><\/p>\n","protected":false},"author":2,"featured_media":4369,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[192],"tags":[],"class_list":["post-2306","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What is Polkadot (DOT)? A web for all blockchains<\/title>\n<meta name=\"description\" content=\"Polkadot (DOT) enables to connect multiple blockchains into a single network. 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