Polkadot Price (DOT)

So, DOT's got four main things it's used for: First, it gives you governance rights to help decide the future of Polkadot. Second, it's used to pay for network fees. Third, you can stake it to help the network run smoothly. And lastly, you can bond DOT to add new parachains to the network. Want to stay updated? EXMON's got real-time DOT price info for you!

Polkadot's consensus system is a mix of two algorithms that work together to make sure everything runs smoothly. GRANDPA (GHOST-based Recursive Ancestor Deriving Prefix Agreement) locks in block finality, making sure blocks are set in stone. Then, BABE (Blind Assignment for Blockchain Extension) takes care of creating new blocks. This combo keeps things fast, secure, and always moving forward on the network.

Polkadot was created by Gavin Wood, who’s also a co-founder and former CTO of Ethereum. He launched the project in 2016, but it officially dropped in 2020. The whole team made sure Polkadot was designed to back up Web3 protocols from the start.

Polkadot isn’t just about crypto tokens. It’s all about transferring data across different blockchains. Think of it as a multi-chain environment where cross-chain interactions and computations happen seamlessly. Plus, Polkadot stands out because it’s got a much lower carbon footprint compared to many other blockchains.

There are over 1 billion DOT tokens in circulation right now, and since DOT is inflationary, there's no set maximum supply. Polkadot estimates the inflation rate will hover around 10% annually. And fun fact: about 50% of the staked DOT tokens help keep the network running smoothly and growing.

You can easily grab DOT on EXMON with your debit or credit card. Or, if you're feeling more like trading, you can swap it for other cryptos on the EXMON exchange. The price of DOT is updated live, so you'll always know what's up. For step-by-step guidance, check out our How to Buy Polkadot (DOT) Guide!

Wanna know where DOT's headed? Check out our DOT Price Prediction page to get a feel for potential price targets. Just keep in mind, the data shown is from users, not EXMON's official take.