The Ultimate WEB3 Ecosystem
When it comes to WEB3 and interoperability, Polkadot is strides ahead of everything else. Most influencers refer to Polkadot as a layer 1. However, it is a layer 0 and as a result is a sleeping giant. Essentially, every parachain that exists on Polkadot is a layer 1, ultimately facilitating the building of additional applications. A layer 1 houses multiple projects. However, a layer 0 is an entire ecosystem of layer 1s.
The term WEB3 was coined by Gavin Wood, the founder of Polkadot. Furthermore, EVM compatability, which has enabled Ethereum to remain relevant owes a lot to Gavin. The author of the EVM yellow paper is none other than Gavin Wood. Regardless, of what unfolds, Polkadot will be a key player in the WEB3 space. People are slowly beginning to awaken to the idea of Polkadot, and what it intends to accomplish as a foundational infrastructure.
The DED airdrop is proving to be a great onboarding tool, as Crypto enthusiasts are beginning to accumulate DOT in anticipation of the upcoming airdrop. One of the best places to hold your DOT to qualify for the airdrop is Nova Wallet. I have been pleasantly surprised by this non-custodial wallet. It has one of the most attractive UIs I have seen and facilitates the staking of top DOT parachains.
Nova – The Best Staking Solution
The great thing about parachains is that the majority of these layer 1s are Proof-of-Stake. This unlocks an additional avenue of passive income for investors and is extremely user-friendly. Delegating tokens from within the wallet is straightforward. Many offer an auto-compounding feature, meaning that staking rewards are automatically added to your initial stake. Staking of the relay chain, DOT, is also available.
The wallet has an entire suite dedicated to staking and displays all your active stakes and the rewards received. Users can also transfer tokens between chains in a single transaction, by simply choosing the chain of destination. This wallet simplifies blockchain transactions and also exemplifies Polkadot’s progress in interoperability. Polkadot 2.0 is another advancement that is incredibly bullish for Polkadot in the long term.
I have checked out all of the alternative Polkadot wallets such as Fearless and SubWallet, and Nova is by far the most advanced and user-friendly. It’s a great option if you are looking to hold DOT tokens to qualify for the DED airdrop. Remember, to qualify, you must hold your DOT in a non-custodial wallet. Staked tokens also qualify for the airdrop, so you can earn while you wait.
Final Thoughts
I decided to drop a quick article for subscribers looking for a simple solution to capitalize on the DED airdrop. The Polkadot ecosystem is still going to be a dominant force in the WEB3 world and Nova provides an excellent way to navigate the ecosystem. The user experience on Nova is second to none and is by far the best Polkadot wallet I have come across so far. Keep stacking, and I will see you in the next one!
Disclaimer
First of all, I am not a financial advisor. All information provided on this website is strictly my own opinion and not financial advice. I do make use of affiliate links. Purchasing or interacting with any third-party company could result in me receiving a commission. In some instances, utilizing an affiliate link can also result in a bonus or discount.
This article was first published on Sapphire Crypto.
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