Now many people are interested in crypto assets. Especially now that you can have many types of crypto assets, one of which is Polkadot. Even in 2021, Polkadot is an asset to Crypto’s rulers.
Many people think that Polkadot has a bright future, so many people are investing in this digital asset. Currently, Polkadot has entered the ranks of the top 10 digital assets with high market capitalization.
The polka dot design itself is also quite revolutionary and can provide a solution to various problems such as high transaction fees and network congestion.
Before you decide to invest, let’s get to know Polkadot as a whole first.
What is Polkadot?
Before we discuss Polkadot’s digital assets, you must first understand what Polkadot is. Polkadot launchpad is a decentralized multi-chain with the web.
Polkadot is designed with a decentralized system that allows its users to have full control over the network. DOT is the native cryptocurrency of Polkadot Launchpad.
DOT currencies also have various payment facilities, transaction fees, and network governance. This is what makes Polkadot different from other cryptocurrencies because it is designed to provide many incentives to its users.
Founder of Polkadot
Who was the first person to design this digital currency? namely, Galvin Wood who is also one of the founders of Ethereum. Galvin Wood is also the developer of the Solidity Ethereum programming.
During the creation of Polkadot, Wood was also assisted by two other founders namely Peter Czaban and Thiel Fellow Robert Habermeier. In 2016, the Whitepaper from Polkadot was released and in 2017 it managed to raise 145 million dollars in funds.
After going through a fairly fast process, in 2020 Polkadot was finally launched on the inline mainnet. Now, the Polkadot governance holders are the people who own the DOT tokens.
So it is no longer a central entity that has power in Polkadot governance. Meanwhile, the DOT redenomination is at a ratio of 1:1000 and has succeeded in becoming the top 10 Crypto due to the relatively high market capitalization value.
How Its Work?
As one of the best digital assets, Polkadot offers the easiest service for all of its users. The way Polkadot works is that it can send funds from one digital wallet to various other digital wallets.
The Hash feature is the address that the user will give to the beneficiary of funds. Meanwhile, the Private Key feature is a password that has authorization and helps broadcast transactions over the network.
Polkadot also uses a multi-chain network and allows processes and transactions to be carried out simultaneously. This system is called parachain which allows data and transactions to be processed using several chains in parallel.
Read also : About Cardano and Cardano Launchpad
What is the Uniqueness of Polkadot?
When compared to other digital assets, Polkadot has its uniqueness. One of the uniqueness that other digital assets do not have is Parachains which is a blockchain solution. In addition, Polkadot can also remove friction between projects and can provide compatibility for other platforms.
Polkadot also has a substrate that allows any project to work on the blockchain, even before they are deployed on the network. Many people think that Polkadot can kill some Crypto like Ethereum because it has this uniqueness.
However, it turns out that the uniqueness of Polkadot can complement existing blockchains. Not to compete, but Polkadot is a decentralized application that improves what already exists.
Polkadot Launchpad
Different from other launchpad, Polkadot offer its launchpad with Polkastarters. Launching cross-chain token pools and auctions is the purpose of the blockchain-based Polkastarter platform.
It intends to help blockchain startups in their initial stages raise money and circulate tokens effectively. Interoperability is emphasized by the platform, which also offers advantages like rapid swaps, high security, and cost-effective transactions.
Polkastarter deals with problems brought on by earlier token launch techniques, like as ICOs and IEOs, which have concerns with fraud and accessibility. As DeFi gained popularity, IDOs on DEXes started to appear, but they lacked real compatibility.
The value of Polkastarter is in the launchpad it offers, which even individuals without technical knowledge can utilize to build up cross-chain token pools and auctions.
Apart from Polkastarters, there is a Kommunitas launchpad platform. Kommunitas is a decentralized and tierless web3 launchpad that resides on the Polygon network. However, what makes Kommunitas special is it is multi-chain oriented, so it is open to projects also launched on the Ethereum, BNB Chain network, Fantom, Solana, Avalanche, and so on.
Tips for Choosing a Polkadot Wallet
If you want to use Polkadot, then you must have a digital wallet. You will use the Polkadot Wallet to store all the crypto coins you have. Now there are many types of digital wallets that you can choose from.
Here are several choices of Polkadot wallets that you can use:
Hardware
Hardware wallets can also be called cold wallets. This wallet offers more secure offline storage. But the drawback is that the costs used are more expensive.
Software
The second option is a software wallet that provides more convenience than a cold wallet. Even though they provide convenience, software wallets are not safe.
You should not keep too many coins because they are easy for someone else to take.
Online Wallet
This last option is the most widely used. Online wallets are very easy to use and have many advantages. You can use online wallets for free and it is the best choice among hardware and software wallets.
If you want to invest in Polkadot, you can buy tokens that are not yet publicly traded. You can buy it on the launchpad platform. This launchpad platform will provide access to purchasing tokens from a project.
On Launchpad, you can buy tokens from projects that haven’t even been released to the public. A privilege for cryptocurrency users. Moreover, there are many types of launchpad platforms that you can use and provide various accesses so you can buy tokens from projects owned by Polkadot.
How to Buy Polkadot
If you are interested in buying Polkadot then you have to buy it on the official platform. Buying on the official platform guarantees safety. You can buy it on Crypto Exchange because it is officially registered and safe.
Here are some steps you can follow to buy Polkadot:
- First, you can choose a safe crypto exchange.
- Second, you can deposit to the Crypto Exchange that you have previously selected. Make sure you choose an officially registered platform so that the funds you enter are safe.
- Third, you can buy DOT. After making a purchase, the DOT will automatically enter the online wallet that you have provided.
It can be concluded that Polkadot is a revolutionary company in the Crypto world. Polkadot itself uses a multi-chain network and enhances existing digital assets.
This concept can finally reduce some of the problems of blockchain technology that were previously difficult to overcome. This is what makes Polkadot perfect for the Crypto ecosystem.
Kommunitas is the best Polkadot launchpad that you can use. Here there are lots of interesting features that will help make your digital investment easier, fun, and secure.