This 2020 will be remembered as the year the world froze because of a virus. The economic repercussions of this global shutdown will be far reaching. One of the most evident repercussions is the renewed interest in crypto assets.
But 2020 will be remembered as the year of decentralized finance. Even though most of these projects are not new to the market, the increased public awareness of the crypto economy has now turned many people to these platforms. And with increased awareness and involvement come increased valuations.
A token that has just ballooned in value in this last week is Polkadot DOT. This token supports a new supra blockchain architecture. Polkadot is a network protocol whose purpose is to link various blockchains, allowing the transfer of any type of data between different chains.
When we consider how many different blockchain protocols are out there right now it becomes clear that there was a need for an all-encompassing protocol such as this to bridge these platforms. And nowhere is the need for this more evident than in the operations of decentralized exchanges.
This need is what has propelled DOT into the top 10 crypto currencies in terms of market capitalization. As it happens with most tokens based on novel blockchains, it’s still hard to find a multicurrency wallet that supports it. That’s why the announcement made by Atomic Wallet that they will soon be supporting DOT comes just at the right time.
Polkadot blockchain protocol offers real advantages for developers. We should expect many new projects based on this protocol as it makes it easier to establish new chains. The future looks bright for this DOT token, and those holding it.
You can buy DOT on Binance and get in on this new ground breaking protocol.
This article is for entertainment purposes only. It should not be considered as financial advise. Please be aware that all investments entail risks, don’t invest more than you can afford to lose.