Polkadot Aims to Unite Blockchains and Power a Decentralized Internet
-
Polkadot is a blockchain network that allows different blockchains to communicate and share data seamlessly. This solves a key limitation of cryptocurrencies.
-
The DOT token powers the Polkadot network by facilitating transactions between blockchains and securing data transfers.
-
Increased use of Polkadot's network raises demand for DOT tokens since they are required to pay fees. This links DOT's value to Polkadot's growth.
-
DOT offers staking rewards up to 17.3% currently to incentivize participation. This can influence DOT's value.
-
With a market cap of $10.5 billion, DOT seems undervalued given its vital role in enabling a decentralized internet and has big upside potential.