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News

BlockDAG: An Interesting Path to Success and Possibility of Entering the Top 50 Cryptocurrencies

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BlockDAG raised $380 million through presale and is set to launch its mainnet. Let's analyze its market potential.
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Giorgi Kostiuk

Supply of USDe by Ethena Labs Hits $12 Billion, Opening Doors for DeFi

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The USDe stablecoin by Ethena Labs has reached a record supply of $12 billion, impacting the DeFi market and Ethereum.
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Giorgi Kostiuk

Ethereum: $388 Million in Short Liquidations in 24 Hours

Ethereum: $388 Million in Short Liquidations in 24 Hours

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Ethereum experienced a significant price increase leading to $388 million in short liquidations over the past 24 hours.
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Giorgi Kostiuk

Tech Sector and Its Impact on the U.S. Stock Market

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Tech giants added $1 trillion to the U.S. stock market, raising questions about economic implications.
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Giorgi Kostiuk

What is Polkadot?

Polkadot - an open source multi-chain protocol that connects and secures a network of specialized blockchains. It facilitates the cross-chain transfer of any data or assets, not just tokens, allowing blockchains to be interoperable with each other.

Contents:

About the Polkadot project

Polkadot was designed to provide the foundation for a decentralized Web3. It is known as the layer 0 metaprotocol because it underlies and describes the format of the layer 1 blockchain network, known as parachains (parallel chains). As a meta-protocol, the project is also capable of autonomously updating its own codebase through on-chain governance, in accordance with the will of its community of token holders.

Why should you trust this project:

Support Polkadot provides a framework to support a decentralized web, controlled by its users, and facilitate the creation of new applications, institutions and services.
Exchange The protocol can connect public and private chains, networks without permissions, allowing these independent blockchains to exchange information and transactions.

The native DOT token serves three distinct purposes: staking on transactions and security, facilitating network management, and pegging tokens to connect parachains.

What makes a protocol unique?

Polkadоt - a multi-chain network, which means that it can process many transactions on parachains. This parallel computing power improves scalability. Custom blockchains are quickly and easily developed with Substrate's work, and Substrate blockchains are designed to be easily connected to the network. The network is also very flexible and adaptive, allowing the exchange of information and functionality between participants. It has a very complex user governance system, where all token holders vote on its work. Teams can set up their own blockchain management on Polkadot, based on their needs and conditions.

Buying a token

The initial maximum supply of 10 million old DOTs was 1 billion new DOT tokens in August 2020. The best exchanges to trade cryptocurrencies:

  • Binance;
  • Huobi Global;
  • OKEx;
  • Coinbase;
  • KuCoin.

You can also buy coins like Bitcoin and Ethereum directly with a credit card in your chosen fiat currency.

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.