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Polkadot
#32 DOT

Polkadot

+5.23%

$3.67

$5,588,938,577

Total Market Cap

1,522,267,060 DOT

Circulating Supply

$264,880,091

24h Volume

$5,588,938,577

Total Market Cap

1,522,267,060 DOT

Circulating Supply

$264,880,091

24h Volume

Technical analysis

Latest Signals

# Signal Exchange Type Age
Cryptocurrency Converter
Polkadot
DOT
Polkadot
USD
USD
US Dollar

Polkadot can be found on the following exchanges

Logo Exchange Price Pair Spread 24h Volume
Binance logo Binance $3.678 DOTUSDC $0.00 $5,214,243
Binance.us logo Binance.us $3.648 DOTUSD $0.00 $5,141
BingX logo BingX $3.677 DOT/USDC $0.00 $84,348
Bitfinex logo Bitfinex $3.6823 DOT/USD $0.00 $181,210
BitMart logo BitMart $3.679 DOT/USDT $0.02 $1,509,037
Bitvavo logo Bitvavo $3.655 DOT/USDC $0.01 $23,322
Bybit logo Bybit $3.683 DOT/USDC $0.00 $72,840
Coinbase Advanced logo Coinbase Advanced $3.677 DOT-USD $0.00 $4,915,976
Crypto.com logo Crypto.com $3.677 DOT/USD $0.00 $1,248,428
EXMO logo EXMO $3.7405 DOT/USD $0.06 $4,114
HitBTC logo HitBTC $3.6414 DOT/USDC $0.01 $102
HTX logo HTX $3.6757 DOT/USDT $0.00 $24,212,686
Kraken logo Kraken $3.6797 DOT/USD $0.00 $281,489
KuCoin logo KuCoin $3.679 DOT/USDC $0.01 $49,368
OKX logo OKX $3.649 DOT/USD $0.01 $12,918
Poloniex logo Poloniex $3.676 USDT_DOT $0.00 $7,511,891
ProBit Global logo ProBit Global $3.702 DOT/USDT $0.43 $39

Polkadot (DOT): The Blockchain for Blockchains

Polkadot (DOT) has established itself as a prominent player in the cryptocurrency ecosystem by providing a unique infrastructure that enables different blockchains to work together. If you're interested in adding Polkadot to your portfolio, you can easily trade DOT on any exchange using Cryptohopper's automated trading bot.

What is Polkadot (DOT)?

Polkadot (DOT) is a next-generation blockchain protocol designed to connect multiple specialized blockchains into a unified network. Founded by Dr. Gavin Wood, co-founder of Ethereum, Polkadot aims to solve the interoperability challenges that have limited blockchain adoption. The protocol enables cross-blockchain transfers of any type of data or asset, not just tokens, creating an interconnected internet of blockchains.

The DOT token serves as the native cryptocurrency of the Polkadot ecosystem, playing several crucial roles in maintaining and operating the network's functionality.

How Does Polkadot (DOT) Work?

Polkadot's architecture consists of several key components:

Relay Chain

The Relay Chain is Polkadot's main blockchain, responsible for the network's shared security, consensus, and cross-chain interoperability. This is where DOT transactions are processed and validated.

Parachains

Parachains are custom, project-specific blockchains that connect to the Relay Chain. Each parachain can be optimized for specific use cases, with their own tokens, governance structures, and features, while benefiting from the security provided by the Relay Chain.

Bridges

Bridges allow Polkadot to connect with external networks like Ethereum and Bitcoin, enabling cross-chain communication and token transfers between different blockchain ecosystems.

Consensus Mechanism

Polkadot uses a sophisticated Nominated Proof-of-Stake (NPoS) consensus mechanism, which combines the security benefits of Proof-of-Stake with a unique validator selection process to ensure network security and decentralization.

Polkadot (DOT) Staking and Validation

Polkadot does offer staking but does not support traditional mining. Here's how participation in the network works:

Staking DOT

DOT holders can participate in network security and earn rewards through staking. In Polkadot's Nominated Proof-of-Stake system, token holders can either:

  • Become validators by running a node, staking DOT, and validating transactions
  • Become nominators by staking DOT and delegating to validators they trust

The current annual staking rewards for DOT typically range from 10-14%, depending on network conditions and the amount of DOT being staked network-wide.

No Mining

Unlike Bitcoin or Ethereum's original blockchain, Polkadot does not use Proof-of-Work mining. Instead, block production and validation are handled by the energy-efficient NPoS mechanism, making DOT an environmentally friendly cryptocurrency option.

What is DOT Used For?

The Polkadot (DOT) token serves multiple purposes within the ecosystem:

Governance

DOT holders have voting rights on protocol changes, upgrades, and treasury expenditures through Polkadot's on-chain governance system. This gives DOT token holders direct influence over the network's future development.

Staking

As mentioned above, DOT can be staked to secure the network and earn rewards.

Parachain Auctions

Projects can bid DOT tokens in parachain slot auctions to secure a connection to the Relay Chain. This competitive process determines which projects get to build on Polkadot's shared security model.

Bonding

DOT is used for bonding when adding new parachains or parathreads to the network.

Transaction Fees

DOT is used to pay transaction fees on the Polkadot network, similar to how ETH works on Ethereum.

DOT Token Distribution and Launch

Polkadot's token distribution history is noteworthy:

Initial Coin Offering (ICO)

The Web3 Foundation, which supports Polkadot development, conducted an ICO in 2017, raising approximately 485,331 ETH (worth about $145 million at the time) by selling 50% of the initial DOT supply.

Token Redenomination

In August 2020, Polkadot underwent a redenomination where each DOT was split into 100 new DOT tokens. This was not a dilution but rather a change in display value to make calculations easier for users.

Current Distribution

The DOT token distribution approximately breaks down as:

  • 50% sold during the ICO
  • 30% retained by the Web3 Foundation
  • 20% allocated to the founders and early team members

Why Polkadot (DOT) Stands Out

Polkadot has several unique advantages in the blockchain space:

Interoperability

Polkadot's primary strength is its ability to connect different blockchains, allowing them to exchange information and work together seamlessly.

Scalability

The parachain model allows for parallel processing of transactions across multiple chains, significantly increasing the network's throughput capacity compared to single-chain architectures.

Upgradability

Unlike many blockchains that require hard forks for upgrades, Polkadot can upgrade itself through on-chain governance, avoiding contentious splits in the community.

Shared Security

Parachains benefit from the security of the entire Polkadot network from day one, rather than having to build their own validator community.

Developer-Friendly

Polkadot supports multiple programming languages through its Substrate framework, making it accessible to a wide range of developers.

Trade Polkadot (DOT) with Ease

Whether you're looking to add Polkadot to your long-term portfolio or trade DOT actively, Cryptohopper's automated trading bot offers a convenient way to execute your strategy on any exchange that lists DOT. With Cryptohopper, you can set up advanced trading strategies to take advantage of DOT price movements without having to monitor the markets 24/7.

As the multichain vision of Web3 continues to develop, Polkadot (DOT) remains at the forefront of blockchain interoperability, making it a cryptocurrency worth watching in the evolving digital asset landscape.

Latest DOT to USD price calculator

Below are the most popular denominations to convert to USD and back into DOT

DOT US Dollar
0.01DOT 0.04USD
0.1DOT 0.37USD
1DOT 3.67USD
2DOT 7.34USD
3DOT 11.01USD
5DOT 18.35USD
10DOT 36.70USD
25DOT 91.75USD
50DOT 183.50USD
100DOT 367.00USD
250DOT 917.50USD
500DOT 1,835.00USD
1000DOT 3,670.00USD
10000DOT 36,700.00USD
50000DOT 183,500.00USD
100000DOT 367,000.00USD
US Dollar DOT
0.01 USD 0.00272480DOT
0.1 USD 0.02724796DOT
1 USD 0.27247956DOT
2 USD 0.54495913DOT
3 USD 0.81743869DOT
5 USD 1.36239782DOT
10 USD 2.72479564DOT
25 USD 6.81198910DOT
50 USD 13.62397820DOT
100 USD 27.24795640DOT
250 USD 68.11989101DOT
500 USD 136.23978202DOT
1000 USD 272.47956403DOT
10000 USD 2,724.79564033DOT
50000 USD 13,623.97820163DOT
100000 USD 27,247.95640327DOT

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