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What Is Polkadot (DOT)?

Polkadot is a sharded heterogeneous multichain architecture which enables external networks as well as customized layer one “parachains” to communicate, creating an interconnected internet of blockchains. The cryptocurrency uses proof of stake. The protocol was created by the Ethereum co-founder Gavin Wood and is developed by Parity Technologies.

In June 2021, Coinbase added Polkadot to its cryptocurrency trading platform. Polkadot’s first token sale closed on October 27, 2017, raising a total of 485,331 ETH (Ether, the currency of the Ethereum blockchain).

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Type Token
Premined No