Polkadot (DOT) to Host a Live Session on October 30
- Mary-Kate OlsenOriginal
- 2024-10-19 12:10:21471browse
Polkadot will broadcast a session on X and across its social media outlets on October 30 at 14:00 UTC.
Polkadot will be hosting a session on X and across its social media platforms on October 30 at 14:00 UTC.
According to the official tweet by DOT:
DOT Info
Polkadot is an open-source protocol conceived by Dr. Gavin Wood, co-founder of Ethereum, with the aim of pushing the boundaries of blockchain technology by prioritizing security, scalability, and innovation. The project endeavors to create an infrastructure that accommodates novel concepts while maintaining interoperability, heralding the next stage in the evolution of blockchain technology.
Within Polkadot's ecosystem, individual blockchains are known as "parachains" and the main chain is called the "Relay Chain". The network facilitates continuous and seamless information exchange between these parachains and the Relay Chain, thus enabling interoperability. Through Substrate, a platform for building cryptocurrencies and decentralized systems, any developer or entity can construct a custom parachain that becomes interoperable with all other parachains upon being connected to the Polkadot network. Network validators handle the security and validation of data across these parachains, enhancing scalability.
DOT, the native token of Polkadot, grants its holders governance rights over the entire Polkadot platform, including determining network fees, voting on network upgrades, and managing parachains. Additionally, DOT contributes to the network's consensus via staking, which encourages holders to follow the rules to avoid losing their stake. Finally, DOT is utilized for "bonding" when adding new parachains to the ecosystem, where the bonded DOT is locked during the bonding period and is released once the parachain is removed from the ecosystem.
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