Polkadot Crypto Currency Coin That's Rising at a Time of Declining Shiba Inu
Rancakmedia.com – Polkadot Coin made waves on Tuesday, November 2, 2021, up 15.1 percent in the previous 24 hours. What is the Polkadot coin, also known as the DOT code, is one of the cryptocurrencies that is quite interesting because it is growing very rapidly in 2020.
The Polka-dot Coin is in 8th place, above Doge Coin and Shiba Inu which are in 9th and 10th positions.
If the most popular cryptocurrencies such as Bitcoin and Ethereum are too expensive to acquire as they vary from tens to hundreds of millions, that is different from Polkadot.
1 Polkadot coin, according to Coin Gecko, costs only around Rp. 720,156, therefore relatively cheap.
The most remarkable part about Polkadot coin is that it advertises itself as a smart blockchain by connecting multiple blockchains into one linked network which is called a multi-chain network.
This system is a donation from Gavin Wood, co-founder of Ethereum, another cryptocurrency.
Gavin and the other Polkadot coin designers (Robert Habermeier and Peter Czaban) intend to make this cryptocurrency the foundation for all current blockchains to more easily connect to each other.
With a multi-chain network, Polka dot makes it easy for developers to build decentralized systems that make the cryptocurrency mining process more structured and affordable. It is separate from the Bitcoin network or any network that works alone.
Polkadot was actually designed by Web3 Foundation and Parity Technologies since 2016. Polkadot held their first ICO or initial coin offering in October 2017. At that time, Polkadot's ICO was only U$0.29, with 2.24 million tokens sold.
However, the adoption of a multi-chain network system in May 2020 increased its value in the cryptocurrency market. Polkadot's second ICO in July 2020 raised the price per Polkadot token to US$1.25.
Like other cryptocurrencies, Polkadot coin also has a lowest division unit called Planck.
There are features in the Polkadot coin system that are quite tempting in cryptocurrency trading
1. Coins
Polkadot free offers the benefits of a blockchain system that can be customized and controlled as needed.
This makes the multi-chain network system capable of enabling independence for networks that are members of Polkadot.
2. It has a larger size
Multi-chain networks allow Polkadot to complete more transactions because it can reduce the bottlenecks that occur on other blockchains running as a single network.
3. Have a special design
Excellent with specific use case optimization services, in contrast to other blockchains which cover a wide range of use case characteristics.
This helps developers to make the Polkadot blockchain more effective and fast, without wasting code.
4. Want to upgrade? Easy!
Other cryptocurrencies require upgrades which are called hard forks. The upgrade time is quite long and difficult.
This is definitely a stumbling point as all blockchains really need periodic upgrade procedures for the system to run efficiently. This issue does not appear on Polkadot which does not use a hard fork upgrade system.
Currently, the Polkadot coin is included in the list of 299 cryptocurrencies that are permitted to be exchanged in Indonesia although it is not permitted to be a payment method.