The Polkadot network is secured by a unique consensus mechanism called “Nominated Proof-of-Stake” (NPoS). In this mechanism, token holders use their DOTs to nominate validators, who are responsible for validating and processing transactions on the network. These nominated validators are then chosen by the network to participate in the consensus process and validate transactions. To […]
Polkadot’s New On-Chain Governance Model
Polkadot’s new on-chain governance model is a unique feature that sets it apart from other blockchain protocols. Unlike traditional blockchain protocols that rely on off-chain governance, Polkadot’s governance is entirely on-chain. This means that all decisions about the protocol, such as upgrades, are made through a decentralized voting process on the blockchain. The on-chain governance […]
What Is Polkadot (DOT)?
Polkadot (DOT) is a blockchain protocol that allows multiple chains, or “parachains,” to interact with one another through a relay chain. This allows for interoperability between different blockchain networks and enables the creation of more complex decentralized applications. DOT is the native cryptocurrency of the Polkadot network and is used for governance and staking. Polkadot […]