DOT is a proof-of-stake cryptocurrency used on the Polkadot blockchain network. The idea behind the Polkadot blockchain is to provide a base platform, called the Relay Chain, upon which decentralized applications are built. These decentralized apps create their own application-specific chains, called parachains, which all leverage the security provided by the Relay Chain, but maintain their own set of components and application functionality.
Polkadot was invented by Gavin Wood, one of the founders of the Ethereum Project. He is also the founder of Parity Technologies, a company that maintains Substrate, the blockchain framework used by Polkadot. Dr. Wood and Peter Czaban also created the Web3 Foundation, an organization that supports decentralized web projects, including Polkadot and Kusama.
The current price of Polkadot is $40.29 US dollars. This price is down -0.57% from yesterday