Hello to my friends who love life and keep smiling despite all kinds of negativity. In this article, I will talk about POLKADOT (DOT), which has gained 425% in the last month. I will try to explain it as simply as possible. Let's learn together…

Polkadot, which launched on August 19, 2020, uses a consensus mechanism called Nominated Proof of Stake (NPoS).

Polkadot is a blockchain that works in a three-tier structure. The "Relay chain", which organizes security, consensus and inter-chain communication, is at the center of Polkadot. Relay chain is the main layer of the network that organizes the communication of security, consensus and chains.

Along with the relay chain, there are "Parachain" layers representing chains running parallel to each other and "Bridge" layers that connect with other blockchains.

Parachain; In many chains working in parallel with each other, different projects have the opportunity to carry out their transactions in their own chains. Polkadot's high scaling promise is based on this component.

Bridge; It is the component of Polkadot that allows it to interact with other blockchains such as Bitcoin, Ethereum, and Tezos.
The functional infrastructure of the Polkadot network is ensured by the harmonious operation of these three layers.

Polkadot ensures the sustainability of the system with four types of consensus roles. Validator, nominator, collator, and fisherman essentially begin with DOT "stake" and each take over the functions of validating, securing the network, collecting transactions from parts, and eliminating validators that damage the function of the system.

Polkadot is not a type of cryptocurrency that is mined.

Thanks to these features of Polkadot;

Ability to host a large number of blockchain projects
To benefit developers from a fast, scalable and secure network
Ability to run different projects working in parallel chains together aims.

It enables different blockchains to bring together the structures that work independently and unaware of each other in their own world. With these features, Polkadot aims to offer a highly interoperable alternative for both internal and external actors.

The circulating supply of cryptocurrencies, whose total supply is 1,034,721,857 DOT, is 900,662,639 DOT.

Experts point out that the Polkadot price is actually still very low. Famous crypto analyst Crypto Michael thinks the Polkadot price will be priced between $ 100 - $ 150 in the continuation of the current bull season.

In finishing…

Polkadot is a cryptocurrency project developed by Ethereum co-founder Gavin Wood. The project, which took years to develop, is currently hosting hundreds of crypto money projects. Some of the important projects; Kusama (KSM) and Polkastarter (POLS)
Polkadot sees it as a competitor of Ethereum. A similar situation may occur within the DOT, such as the ETH price rising from $ 20 to the $ 1,432 level. Polkadot price is traded at $ 17.62 at the time of publishing my article. It ranks 4th in CoinMarketCap according to market value. It is called the "Ethereum Killer" of the future.

As I always said, listen to everyone, decide for yourself ...

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