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Polkadot News

crypto.news covers blockchain and cryptocurrency news to keep you up to date on the latest developments. One of the most interesting projects out there is Polkadot, a strong contender with the Ethereum project.

Polkadot and its native token DOT was created by Ethereum co-founder Gavin Wood and officially launched in 2020. The primary goal of Polkadot is to solve the issue of ‘cross-chain operability.’ Seeking to bridge the gap between different blockchains projects that operate with different architectures and operational protocols.

Polkadot acts as a form of ‘connecting tissue’ between different blockchains. Allowing them to work together, share data, and conduct business even if they don’t use the same tokens or systems. Polkadot achieves this by using a complex network of Smart Contracts and Parachains.

Smart Contracts are small amounts of code that create self-executing contracts between various parties. Smart Contracts function as the ‘language’ through which different Blockchains ‘talk’ to each other, allowing for users to interact and conduct business in a decentralized and secure fashion.

Parachains are the descriptor used for the other blockchains that have been anchored to the primary hub that is Polkadot. These chains, thanks to Smart Contracts, can now operate freely amongst the ecosystem of other blockchains, benefiting each other and users.

Often in the crypto space users and businesses alike are bombarded with promises of future functionality and distant roadmaps. Yet Polkadot is refreshing in this regard as it can already boast different active and functional examples of its system at work.

The first of these examples is Acala, a DeFi hub that allows for various financial services, such as crypto exchange, staking, and digital asset movement. Acala also operates as a liquidity pool, from which Polka draws capital to fund new projects, which are usually decided upon by the community itself. Acala provides a key function for the operation of Polkadots web of services.

Another example is Darak Yoo’s Moonbeam and its native GLMR, a system that further extends the functionally Ethereums code into Polkadot. Securing the functionality of Ethereum’s Virtual Machine, Solidarity Code, and various other tools that aid development amongst the Polka network.

These are just a few examples of the early adopters of Polka with an estimated 100 slots being made available over the coming years. Evidently, Polkadot has strong potential for development into the future and already boasts a strong current trend of usage and adoption.

Polkadot has been described by some of its more zealous fans as the ‘next Etherum’ or even the ‘Etherurm Killer.’ Phrases like these are bandied about a lot in the crypto space, but it is clear that Polkadot, with its inventive design, inspired business model, and impressive ethos is attempting to bring a degree of interoperability that could see Polkadot rocketing in the coming years.

$7.14
24h Volume $159,668,214
Market Cap $9,682,192,606
24h Low/High $6.99 / $7.29
24h -0.66%
7d 9.21%

Latest Polkadot News

Polkadot’s Gavin Wood introduces new JAM chain graypaper at Token2049 
News
Read more - Polkadot’s Gavin Wood introduces new JAM chain graypaper at Token2049 

Polkadot’s Gavin Wood introduces new JAM chain graypaper at Token2049 

Speaking at Token2024 in Dubai, blockchain veteran Gavin Wood unveiled plans for a new protocol called JAM Chain built atop Ethereum and Polkadot principles. 
Coinbase to add futures for Polkadot, Internet Computer, NEAR
News
Read more - Coinbase to add futures for Polkadot, Internet Computer, NEAR

Coinbase to add futures for Polkadot, Internet Computer, NEAR

Coinbase International Exchange will enhance its offerings by supporting Polkadot, Internet Computer, and NEAR Protocol futures.
Astar Network gains 26% in 7 days on heels of Polkadot, Polygon partnership
News
Read more - Astar Network gains 26% in 7 days on heels of Polkadot, Polygon partnership

Astar Network gains 26% in 7 days on heels of Polkadot, Polygon partnership

Astar Network’s token has witnessed a 26% price increase in the past week. Leveraging the cross-virtual machine feature on Polygon and Polkadot, Astar delivers personalized blockchain solutions.
A comprehensive outlook on altcoin predictions for 2024: trends and insights
Markets
Read more - A comprehensive outlook on altcoin predictions for 2024: trends and insights

A comprehensive outlook on altcoin predictions for 2024: trends and insights

Unpacking altcoin predictions for 2024, focusing on Ethereum's advancements, Solana's market position, and the trajectories of promising altcoins.
Astar launches NFT campaign to celebrate mainnet launch
News
Read more - Astar launches NFT campaign to celebrate mainnet launch

Astar launches NFT campaign to celebrate mainnet launch

Astar Network, a Polkadot parachain, has announced an NFT campaign celebrating the mainnet release of Astar zkEVM
Polkadot’s Web3 Foundation to put $1m in US tokenized treasury bills, DOT jumps 6%
News
Read more - Polkadot’s Web3 Foundation to put $1m in US tokenized treasury bills, DOT jumps 6%

Polkadot’s Web3 Foundation to put $1m in US tokenized treasury bills, DOT jumps 6%

The Web3 Foundation, dedicated to the development of the Polkadot ecosystem, has announced a $1 million seed investment in tokenized treasury bills. In an X post on Nov. 29, 2023 the Web3 Foundation unveiled plans to put $1 million in…
Cardano utilizes Polkadot tech stack for partner chains
News
Read more - Cardano utilizes Polkadot tech stack for partner chains

Cardano utilizes Polkadot tech stack for partner chains

According to a Nov. 6 post on X, Cardano has chosen to use Substrate, the foundation of the Polkadot SDK, to build its partner chain project.
Polkadot developers consider deflationary mechanisms
News
Read more - Polkadot developers consider deflationary mechanisms

Polkadot developers consider deflationary mechanisms

The Polkadot network is exploring ways to implement deflationary mechanisms to counterbalance inflation and accrue value for DOT token holders.
Polkadot’s Q3 treasury data shows 61% increase in expenditure
News
Read more - Polkadot’s Q3 treasury data shows 61% increase in expenditure

Polkadot’s Q3 treasury data shows 61% increase in expenditure

Polkadot's Q3 2023 Treasury Report reveals a significant uptick in spending across research and development
Parity employee confirms mass layoffs after rumors initially denied
News
Read more - Parity employee confirms mass layoffs after rumors initially denied

Parity employee confirms mass layoffs after rumors initially denied

Despite refuting earlier rumors of mass layoffs, a Parity employee shared with DLNews that the layoffs occurred prior to the company retreat. 
Parity Technologies decentralizes teams in Polkadot, refutes layoff rumors
News
Read more - Parity Technologies decentralizes teams in Polkadot, refutes layoff rumors

Parity Technologies decentralizes teams in Polkadot, refutes layoff rumors

Parity Technologies announces a strategic shift towards decentralization within the Polkadot ecosystem, dispelling rumors of laying off 300 employees. 
Web3 foundation plans to allocate $22 Million to Polkadot projects
News
Read more - Web3 foundation plans to allocate $22 Million to Polkadot projects

Web3 foundation plans to allocate $22 Million to Polkadot projects

The Web3 Foundation, a firm whose flagship project is the Polkadot blockchain protocol, has unveiled a new initiative to allocate $22.08 million and 5 million DOTs throughout the year 2024.
Polkadot’s evolution toward asynchronous backing: The journey to 1,000 parachains
News
Read more - Polkadot’s evolution toward asynchronous backing: The journey to 1,000 parachains

Polkadot’s evolution toward asynchronous backing: The journey to 1,000 parachains

Polkadot (DOT), an avant-garde interoperability network, is set to undergo transformative expansion, with plans to enhance its ecosystem by introducing the asynchronous backing update. Currently, the ecosystem accommodates a limit of 100 parachains—individual blockchains interlinked within Polkadot’s structure. Yet, the…
Circle announces USDC stablecoin is now available on Polkadot Asset Hub
News
Read more - Circle announces USDC stablecoin is now available on Polkadot Asset Hub

Circle announces USDC stablecoin is now available on Polkadot Asset Hub

Circle, the issuer of USDC, has announced the official launch of USD Coin on the Polkadot network as of Sept. 19. Following the announcement, developers and users can now readily access Polkadot USDC and transfer to Polkadot parachains through the…
PolkaWorld ceases operations, criticizes Polkadot’s OpenGov governance system
News
Read more - PolkaWorld ceases operations, criticizes Polkadot’s OpenGov governance system

PolkaWorld ceases operations, criticizes Polkadot’s OpenGov governance system

PolkaWorld preferred the previous governance system — where a council elected by Polkadot DOT holders evaluated proposals. It was more effective and should be incorporated into the current OpenGov model, the community claims.
USDC to launch on Base, Polkadot and four more platforms
News
Read more - USDC to launch on Base, Polkadot and four more platforms

USDC to launch on Base, Polkadot and four more platforms

Circle, the issuer of USDC, said the stablecoin will now be available on six more blockchains and layer-2 platforms, including Base and Polkadot