Polkadot is a network protocol built to connect private and consortium chains, public and permissionless networks, oracles, and future technologies that are yet to be created. Facilitating an internet where independent blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain, it unites different specialized blockchains into a single unified network.
Polkadot operates two types of blockchains – relay chain and parachains. The relay chain is the main network with permanent transactions, while parachains are user-created networks. Parachains are specialized blockchains, with characteristics customized for their use cases and the ability to control their own governance.
There are also parathreads and bridges on the network. Parathreads are similar to parachains, but they only occasionally establish a link to the relay chain, which allows having “pay-as-you-go” security. As for the bridges, they allow Polkadot to interoperate with external networks, such as Bitcoin and Ethereum.
The internal token of the Polkadot network is DOT. With DOT tokens, you can take part in the governance of the network, take over the operation of the network, as well as form parachains by bonding DOT.
To buy DOT tokens, you can access Binance, Kraken, or Gate.io exchange. Crypto ATMs offer another option to purchase DOT. There, you simply select an ATM at a convenient location, add your wallet information or set one up, verify your identity, and buy DOT. Further, you can take advantage of local crypto sellers or online peer-to-peer services to exchange cash or bank transfers for DOT.
1 279 043 218
1 359 992 351
Nov 4th, 2021
Aug 20th, 2020