1. What is Polkadot?

Polkadot is a network that connects individual blockchains. It allows these Blockchains to share data in a decentralized way. Polkadot focuses on solving two main problems of Blockchain: Interoperability and scalability of the network. Polkadot’s (DOT) vision is to create a “Decentralized Web” where our identities and data will be controlled by ourselves, not by any organization or government.

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  1. The solution that Polkadot solves

Polkadot aims to solve the problems inherent in the blockchain:

  • Ability of extension
  • Recognition
  • Interoperability
  1. Structure of Polkadot
  • The key chain (Relay chain) is the backbone of Polkadot, responsible for the authenticity of the link Parachain.
  • Scaling solution (Parachain)
  • Bridge
  1. Advantages and disadvantages of the Polkadot project
  • Advantages
  • Able to process many transactions in parallel
  • Specialization
  • Cross-chain interoperability and communication
  • Self-management
  • Easy to upgrade
  • Disadvantages: Sharding also poses a huge risk because it sacrifices security features to increase scalability for the system.
  1. Information about DOT copper

DOT is the native token of the Polkadot network. The main functions of DOT in Polkadot include:

Governance: Investors will use their DOT to participate in the management and modification of the protocol.

Staking: Investors will be staking their DOT to join the consensus mechanism on the Polkadot platform.

Bonuses: Investors will receive a DOT bonus if they are active on the platform.

Bonding: Binding DOTs will create new parachains, which is a Proof of Stake (PoS) method.

Investors who own DOT tokens will be able to assume the following roles:

Validator: Performs staking DOT to ensure the security of the main chain (Relay Chain), verifies and adds new blocks to the main chain, and validates proof of Collator.

Collator: Performs the role of collecting transactions on Parachain and sending evidence to the validator.

Nominator: Make sure the main chain is working by verifying the Validator does staking DOT

Fisherman: Network monitoring and breaches report to Validator.

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