Polkadot

Polkadot is a multichain protocol that aims to let different blockchains work together by sharing a common security infrastructure. At the core of the network is the relay chain, which provides security and consensus; the special-purpose chains connected to it are called parachains. The mainnet launched in 2020, and the ecosystem has grown with the development framework known as Substrate and later as the Polkadot SDK.

The network is secured by a nominated proof-of-stake (NPoS) model; DOT holders can take part in staking rewards by nominating validators. Polkadot has shifted resource allocation from fixed-term parachain leases to flexible purchases of blockspace (Agile Coretime) and is working on a new architecture called JAM. On-chain governance is known as OpenGov; treasury spending and network upgrades are decided by the votes of DOT holders.

The DOT token is used for staking, governance, transaction fees and acquiring blockspace (coretime). The Polkadot price on Lzzo.com is based on the Binance DOT/USDT pair and converted to dollars using Coinbase Exchange's USDT/USD rate; it is for information only.