Polkadot/DOT#27 122

What Is POLKADOT (DOT)?

Polkadot (DOT) is a unique heterogeneous multichain network that allows different blockchains to connect and interact with one another. It is also a Web 3 platform supporting decentralized web. DOT is the native cryptocurrency of Polkadot blockchain used for staking, transaction fees, bonding parachains, incentives, and cross-chain functionality.

The Polkadot Whitepaper was introduced in 2016 by Gavin Wood, Ethereum co-founder, Robert Habermeier, and Peter Czaban. The Polkadot blockchain network was launched on May 26, 2020. “Parachain”, the first blockchain building on the Polkadot network was in December 2021.

The Kusuma often referred to as the “canary” multichain network based on Polkadot’s code was launched in September 2019 by Parity Technologies, which allows developers to test the new features before deploying them on Polkadot’s blockchain.

How Does Polkadot (DOT) Work?

Polkadot operates through a core network “the Relay chain”, and is responsible for security and communication. Utilizing a Nominated Proof-of-Stake (NPoS) consensus mechanism, the network is secured by allowing validators to be nominated by DOT holders. 

Parachains on top of the Relay chains, running parallel can be used for special cases to connect the Relay chain, enabling cross-chain communication and asset transfers, as well as interaction with external networks through bridge parachains. Using the Polkadot SDK development kit developers can create their parachains to operate on the Polkadot network.

POLKADOT (DOT) Price History:

• The total supply is 1.5 Billion of DOT tokens.

• The DOT coin was introduced through its first ICO in October 2017, with a price of $0.29/DOT raising $2.24 million tokens.

• The second ICO was held in July 2020 selling 342,080 coins with a Polkadot price of $1.25/DOT raising $ 200 million.  

• As of 2024, the Polkadot (DOT) crypto reached an all-time high of $ 54.98 on Nov 4, 2021, and an all-time low of $ 2.69 on Aug 20, 2020

POLKADOT (DOT) Price Prediction: 

• According to Coinpedia, DOT price prediction in 2025 is expected to vary between a potential low of $11.715 and a high of $28.1945, an average value of  $15.235.

• In 2026, the Polkadot coin price ranges between $17.82 to $39.65, and the average price is projected to be $27.23.

• In 2027, Polkadot’s price could span from $26.88 to $53.49, with an average of $40.18.

• By 2028, the DOT crypto price prediction would fall between $37.95 and $60.34, the average price is expected to be about $49.14.

• The average DOT price is estimated at around $65.07, with a potential low of $50.83 and a high of $79.32 by 2029.

• Polkadot crypto price prediction in 2030 indicates an average price of $85.06. The asset may vary between a potential low of $64.18 and a high of $95.94. 

Where To Buy POLKADOT (DOT):

Centralized Exchanges: Polkadot (DOT) is swapped or traded on exchanges like Binance, Coinbase exchange, Bybit, OKX, Upbit, HTX, and Kraken.

Decentralized Exchanges: PancakeSwap, Biswap, MDEX, Osmosis, and Kujira Fin are the Dexs supporting the Polkadot.

Which Wallets Support DOT(Polkadot) Coins? 

Wallets supporting Polkadot include Trezor, Trust Wallet, Math Wallet, Fairy Wallet, Party Signer, Safepal, Ownbit, Dharma, Hyper Pay, Metamask, and Binance Coin Wallet.