Polkadot has quickly become one of the most popular and, by far, among the biggest cryptocurrency blockchains throughout the entire industry.
It appears that the hype surrounding Polkadot is only growing stronger, so we’ve taken the liberty to compile a comprehensive walk-through, guiding those who are less aware of the project and what it is all about.
Photo by Alina Grubnyak on Unsplash
What is Polkadot In Simple Words?
Polkadot is Ethereum Co-founder Gavin Wood’s bet against blockchain maximalism. Its rise in popularity and gains has been stunning since its launch in May 2020. Since then, it has become one of the top 10 cryptocurrencies by market cap, according to CoinGecko.
But what is Polkadot, and what impact is it making on the industry? Who is using it, and is the hype empty or well-founded? Simply put, Polkadot (DOT) is a blockchain network that:
Connects blockchains to each other
Enables users to easily build a blockchain with their Substrate framework
Hosts blockchains
