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Polkadot (DOT)

Multi-chain protocol for blockchain interoperability

What is Polkadot (DOT)?

A layer-0 protocol enabling different blockchains to interoperate and share security. Uses Nominated Proof-of-Stake and OpenGov for community governance. I've been deep in the Polkadot ecosystem for years, it's one of the most actively governed networks in crypto.

How it works

Key takeaways

  • Shared security across all parachains

  • Cross-chain communication via XCM

  • On-chain governance with OpenGov

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Real-world example

Acala handles DeFi, Moonbeam runs Ethereum-compatible smart contracts, and Phala does privacy, all secured by Polkadot's Relay Chain.

Related terms

On-Chain Governance

Token-holder voting on protocol decisions

Staking

Locking tokens to earn rewards and secure networks

Interoperability

Blockchains talking to each other

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