Polkadot is a Nominated Proof of Stake (NPoS) blockchain and “layer-0” protocol, aiming to be the blockchain of blockchains to deliver a robust platform for interoperability, scalability, security, and innovation.

Polkadot enables cross-blockchain transfers of any type of data or asset.
  • Interoperability:Blockchains connecting to the Polkadot network allows true interoperability with a wide variety of blockchains in the Polkadot network.
  • Scalability:These multiple blockchains are secured through a common set of validators which provides transactional scalability by spreading transactions across multiple parallel blockchains.
  • Security: Polkadot is forkless and future-proof, upgrades can be done to integrate new features or fix bugs and are coordinated on-chain and enacted autonomously.
  • Innovation: blockchains can be created easily on the platform with interoperability and security from day one.

Tokenomics

  • Polkadot, as of this writing, has 987million coins in circulation out of a total supply of 1.1billion.
  • There is no cap on the max supply of DOT meaning the coin is inflationary with no fixed inflation rate. Newly generated coins are distributed as staking rewards with the remainder going to the Treasury.

Concluding Thoughts

Polkadot's ecosystem enabling interoperability for blockchains, is an exciting technology in the crypto industry. As more blockchains interconnect with the Polkadot network, it demonstrates the future proof and staying power of DOT. The market agrees with this sentiment which allows it to currently be in the top ten cryptocurrencies in the market. On the downside, holders are exposed to inflationary risk due to its inflationary nature with no fixed inflation rate or capped supply. Having that said, DOT is still a great crypto project to be a part of, but ensure you stake your DOT!

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