Cryptocurrency Spotlight : Lets Look at Some Tokens :
>> PolkaDot <<
>> PolkaDot <<
What's good Friends.
The cryptocurrency world is an amazing place filled with so my different projects. We're going to start looking at one crypto token project every Friday that is kind of interesting.
This week for our first project where I look at the new coming token that has the potential to replace ETH in the market place. Let's talk about PolkaDot.
Disclaimer :
We are not financial advisors, and this article is not an endorsement for the token or project but rather an informational article for entertainment. Cryptocurrency has a lot of inherent risk. You should never invest more in your willing to lose. Please do your due diligence and research before making any investments.
Token Information :
- Web URL: https://polkadot.network/
- Hive account : (Not on Hive)
- Coin info listing : https://www.livecoinwatch.com/price/Polkadot-DOT
Market data at time of writing
| . | . |
|---|---|
| Polkadot Price | $4.14 |
| Market Cap | $3,819,316,340 |
| Market Cap Dominance | 1.03% |
| Trading Volume | $135,691,074 |
| Volume / Market Cap | 0.0358 |
| 24h Low / 24h High | $4.04 / $4.17 |
| 7d Low / 7d High | $4.09 / $4.32 |
| Market Cap Rank | #8 |
| All-Time High | $6.80 -39.1% |
| Sep 01, 2020 | (about 1 month) |
| All-Time Low | $2.70 53.5% |
| Aug 20, 2020 | (about 2 months) |
| Polkadot/Bitcoin Ratio 1 BTC = | 2784.63 DOT |
Why is this token interesting :
PolkaDot ($DOT) could potentially replace Ethreum ($ETH) As a market leader, or at least spur them on to get ETH 2.0 out the door.
There are lots of reasons why people are excited about this project. First, this project is being backed by The Web3 Foundation. This is a Swiss based Foundation that wants to facilitate a fully functional and user-friendly decentralized web. ( https://web3.foundation/ ). Woot!
What is also exciting about PolkaDot is that PolkaDot does not Process all the transactions on its main chain. The Main chain, or the "Relay Chain" charges you DOT to transact on it like Gass on ETH, however you can all set up and run “parallelized” chains or parachains with your own token. This Will reduce the cost that is needed to send and receive transactions (simplified, lower *Gass costs).
But you might be saying it will be a lot of work to port a ETH project to PolkaDot, Well that's where this next bit of thing becomes exciting, PolkaDot can migrate any ETH project to its network with a click (*or at least its easy to port to DOT). Now that is huge.
There other reasons why this chain is exciting that this is a project to keep your eye on.
This is a nice overview video to watch as well on YouTube :
What do you say?
- Do you have any thoughts or feelings about this token?
- Do you it will reach mass adoption?
Let us know in the comments below!
Over and out.
- D.Buzz
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hmm 🤔🤔 i need to learn more crypto terms in order to fully appreciate each token or network or blockchain 🤣😂
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