What is Polkadot and how does it work?

All the key functions of Polkadot rely on DOT tokens to bring them to life. The DOT token has three purposes it serves; to govern the network, staking, and bonding. In the area of governance, the holders of Polkadot token receive complete control over the platform.

Is Polkadot a good cryptocurrency?

Polkadot is also quick and scalable, processing more than 1,000 transactions per second (TPS). That’s impressive when you consider that Bitcoin can only process about seven, and Ethereum can only process about 30 per second. With those advantages, Polkadot could expand the usability of some cryptocurrencies.

How do I store my Polkadot?

Store Your Polkadot Whenever you buy cryptocurrencies, you have to handle storage on your own. Properly storing your investment is essential to ensure you keep your tokens safe. There are several storage options: Hard Wallet: A hard wallet resembles a flash drive or USB drive.