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DOTUSD Profile

Polkadot is an open-source blockchain platform that allows for distributed computing and the first Polkadot’s sale closed in October 2017. The cryptocurrency enables for cross-chain transfers οf data or assets, between different blockchains, allowing fοr cross-chain DApps to be built using the Polkadot Network. It uses a proof οf stake consensus algorithm and those cοnnected tο the network can verify transactions to receive freshly minted tokens. Over 100 chains are linked to the network allowing for up to 1,000,000 transactions to be processed per second.

Polkadot cryptocurrency is a way of storing information that works similarly to a database. This blockchain technology stores information to create uneditable records, transparency and visibility to anyone and a permanent timeline without the need to purge data.

Polkadot is a software that seeks to incentivize a global network of computers to operate a blockchain on top of which users can launch and operate their own blockchains. To date, Polkadot has raised roughly $200M (USD) from investors across two sales of its DOT cryptocurrency, making it one of the most well-funded blockchain projects in history.

In February 2022, DeFi Technologies received approval to trade Polkadot and Cardano exchange-traded products (ETPs) on the Boerse Frankfurt Zerfikate AG (Frankfurt Stock Exchange) through its subsidiary Valour. After two weeks, trading in the ETPs was available under the names Valour Polkadot (DOT) EUR and Valour Cardano (ADA) EUR.

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Polkadot is newer than other popular cryptocurrencies. Bitcoin was the first to emerge in the world of cryptocurrency as it offers basic abilities compared to the second-most popular cryptocurrency, Ethereum, which can complete more complex tasks. However, Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel ( “parachains”). This parallel processing power improves scalability.

As Polkadot is being more interactive, it gains more interest from investors. Developers can link blockchains to the Polkadot system and create new blockchains from scratch. When investors watch developers flocking to new technology, it catches their attention.

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