Polkadot is a next-gen decentralized blockchain protocol that enables the connection of various blockchains into one singular network. Polkadot was partly inspired by the inefficiencies of the Ethereum network, something that co-creator Gavid Wood is very familiar with since he once worked with Ethereum creator Vitalik Buterin on Ethereum. In recent years, Polkadot has received massive attention in China as “the east’s Ethereum killer” but it’s also started to catch on in the west due to listing on major exchanges.
Polkadot aims to improve blockchain scalability and create a self-governing network that can upgrade without the need for various hard forks like Ethereum. The price of Polkadot’s native token (DOT) has seen impressive price movement due to its important role in the decentralized finance (DeFi) industry.
The Polkadot team claims the project is “by developers for developers” and seamlessly connects both private and public chains, decentralized applications (dapps), and oracles. Holders of the DOT token can take part in the system’s decision-making process by simply holding DOT. All governance proposals are organized by the Polkadot Council which is a committee of DOT holders. The proposals are then voted upon by everyone who holds DOT in the public.
YouHodler aggregates prices from top centralized exchanges to provide an accurate Polkadot price and charts.
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