Back
2022-04-18 23:30:10
How to purchase Polkadot (DOT)

What is Polkadot
What Is Polkadot (DOT)?
Polkadot is an open-source sharding multichain protocol that facilitates the cross-chain transfer of any data or asset types, not just tokens, thereby making a wide range of blockchains interoperable with each other.
This interoperability seeks to establish a fully decentralized and private web, controlled by its users, and simplify the creation of new applications, institutions and services.
The Polkadot protocol connects public and private chains, permissionless networks, oracles and future technologies, allowing these independent blockchains to trustlessly share information and transactions through the Polkadot relay chain (explained further down).
Polkadot’s native DOT token serves three clear purposes: providing network governance and operations, and creating parachains (parallel chains) by bonding.
Polkadot has four core components:

Relay Chain: Polkadot’s “heart,” helping to create consensus, interoperability and shared security across the network of different chains;
Parachains: independent chains that can have their own tokens and be optimized for specific use cases;
Parathread: similar to parachains but with flexible connectivity based on an economical pay-as-you-go model;
Bridges: allows parachains and parathreads to connect and communicate with external blockchains like Ethereum.

Who Are the Founders of Polkadot?
Polkadot was founded by the Web3 Foundation, a Swiss Foundation founded to facilitate a fully functional and user-friendly decentralized web, as an open-source project.
Its founders are Dr. Gavin Wood, Robert Habermeier and Peter Czaban.
Wood, the Web3 Foundation’s president, is the most well-known of the trio thanks to his industry influence as Ethereum co-founder, Parity Technologies founder and the creator of the smart contract coding language Solidity.
Habermeier is a Thiel Fellow and accomplished blockchain and cryptography researcher and developer. Czaban is the Web3 Foundation’s Technology Director. With a wealth of experience across highly specialized fintech industries, he is currently helping to develop a new generation of distributed technology.
What Makes Polkadot Unique?
Polkadot is a sharded multichain network, meaning it can process many transactions on several chains in parallel (“parachains”). This parallel processing power improves scalability.
Custom blockchains are quick and easy to develop through the Substrate framework and can be connected to Polkadot’s network within minutes. The network is also highly flexible and adaptive, allowing the sharing of information and functionality between participants similar to apps on a smartphone. Polkadot can be automatically upgraded without the need for a fork in order to implement new features or remove bugs.
The network has a highly sophisticated user-driven governance system that also helps to secure it. Communities can customize their blockchain’s governance on Polkadot based on their needs and evolving conditions. Nominators, validators, collators and fishermen all fulfil various duties to help secure and maintain the network and eradicate bad behavior.
Related Pages:
Learn more about Cosmos (ATOM)<span style="text-decoration:underline;">.</span>
Learn more about Ethereum (ETH)<span style="text-decoration:underline;">.</span>
Learn more about Cardano (ADA)..
Visit the CoinMarketCap blog for trending blockchain news and insights.
To learn more about this project, check out our deep dive of Polkadot.
How Many Polkadot (DOT) Tokens Are There in Circulation?
Polkadot currently has an allocation of 1 billion DOT tokens, following the network’s redenomination from an initial maximum supply of 10 million in August 2020. The redenomination was undertaken purely to avoid the use of small decimals and make calculation easier. While all balances were increased by a factor of one hundred, this did not impact the distribution of DOT or holders’ proportional share.
How Is the Polkadot Network Secured?
Polkadot’s mass interoperability through a set of common validators helps to secure its multiple blockchains and allows them to scale their transactions by spreading their data across many parachains.
The network uses the NPoS (nominated proof-of-stake) mechanism to select validators and nominators and maximize chain security.
This unique validity scheme enables chains to interact with each other securely under the same rules, yet remain independently governed.
Where Can You Buy Polkadot (DOT)?
The top exchanges for Polkadot (DOT) trading are currently Binance, Huobi Global, HBTC, OKEx and Binance.KR. You can find others listed on our crypto exchanges page.
You can now also buy cryptocurrencies like Bitcoin and Ethereum directly by credit card in the fiat currency of your choice. To find out how, read more here<span style="text-decoration:underline;">.</span>
How to buy DOT?
  • How to buy DOT on Neko Invest app
    For more information:
    How to download and use Neko Invest app
    • Step 1 :  Create/Login to your Neko Invest app account
    • Step 2 :  Go to Market page, click on the Search icon and search DOT in the search bar.
    • Step 3 :  Click on DOT logo and choose Invest.
    • Step 4 :  Entering the amount of DOT that you want to buy. Then click on the Get Quotes button.
    • Step 5 :  Swipe the Swipe to swap button and now you own DOT. You can check your DOT balance in your wallet by going to Wallet page.
Contract Addresses
Polkadot Token (Binance Smart Chain) : 0x7083609fce4d1d8dc0c979aab8c869ea2c873402
Polkadot (Heco) : 0xa2c49cee16a5e5bdefde931107dc1fae9f7773e3
Join our community at