DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..
Name | Price | 24 hr | Market Cap | Circulating Supply |
---|---|---|---|---|
Polkadot (DOT) | $6.7812 | -1.42% | $9,206,306,553 | 1,357,616,517 |
The network uses a nominated proof-of-stake (NPoS) mechanism with validators as well as nominators. Nominators support validators with their tokens. These staked tokens maximize chain security by making it too costly to misbehave. Validators are staked on the Relay Chain and verify transactions from the different parachains. This distinctive validity scheme allows chains to interact with each other securely with similar rules yet remain governed independently.
The top exchanges for Polkadot (DOT) trading include Binance, Huobi Global, OKEx, Coinbase, KuCoin, and more. Popular trading pairs for Polkadot in the market includes DOT/USD, DOT/CAD, DOT/INR, DOT/AUD, DOT/GBP, and DOT/PHP.
Following the network’s redenomination following a referendum on Polkadot, DOT balances grew by 100, so one old DOT was equal to 100 new DOT. Thus, the initial maximum supply of ten million old DOT in August 2020 turned into 1B new DOT tokens. The redenomination was done to avoid using small decimals and make the calculation easier. Polkadot’s first ICO took place in October 2017, and the Polkadot price was $0.29, with 2.24 million tokens offered. The second ICO was organized in July 2020. At that time, the Polkadot price offered was $1.25, and 342,080 DOT tokens were sold.
DAILY NEWSLETTER
Your daily dose of Crypto news, Prices & other updates..