Get to know Polkadot⚡️

Get to know Polkadot⚡️

🔹Polkadot, what is that?

Polkadot is an open source multichain protocol that allows cross-chain traffic and assets. For example, transfers of Bitcoin to the Ethereum blockchain can be problematic. But it can be solved with Chain Bridge and partial wrapping, and users can control the web in style. decentralized It's easy to create things on Polkadot. As for protocol connections to public and private chains, networks, and Oracle, connections to these allow the Polkadot Blockchain to operate independently.

Polkadot's DOT Token has three main functions. The DOT Token is created for use in the network's governance system, which is used to determine the direction of the Blockchain for security. Check the network (Stake) and use it to create a Parallel Chain by locking DOT (Bonding).

🔹And what is the purpose of Polkadot?

Polkadot is intended to facilitate and improve the ability to expand by executing transactions on multiple chains in parallel

🔹 What are the risks of Polkadot?

Because competitors in the application Decentralized from the Smart Contract Blockchain, with the huge amount of competition and high competition, Polkadot has to plan a tough market competition. to grab market share

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