Polkadot is a new proof-of-stake cryptocurrency that aims to enable cross-chain interoperability. The protocol unites permissioned and permissionless blockchains as well as oracles so that systems can communicate under one roof. Polkadot relies on the relay chain for interoperability among several network types. Additionally, it allows the development of "parachains," or modified blockchains that run on native currencies. Polkadot is different from Ethereum is that developers may design their own blockchain while still preserving Polkadot's security. Developers may create new blockchains with Ethereum, but they must build their own security methods, leaving smaller projects more vulnerable to attack than bigger ones. This is referred to as shared security by Polkadot.

Website https://polkadot.network

Polkadot (DOT) is a cryptocurrency that powers the Polkadot blockchain, a next-generation platform designed to enable interoperability between multiple blockchains. Created by Ethereum co-founder Dr. Gavin Wood, Polkadot aims to solve scalability, security, and compatibility issues in the blockchain ecosystem.

The network uses a unique architecture featuring a Relay Chain (its central hub) and multiple parachains (specialized blockchains) that operate independently but communicate seamlessly. This design allows for faster transactions and reduced costs compared to traditional blockchains.

DOT serves three primary purposes: staking for network security, governance by allowing holders to vote on protocol changes and bonding to connect new parachains. Polkadot’s innovative approach makes it a key player in the development of decentralized applications (dApps) and Web3 solutions.