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Currently, many people are interested in investing in a coin where they can get a profit. There is a high chance of losing if you buy coins without proper understanding. As a result, we are discussing DOT Coin today as the second article in a series of articles with the goal of providing a clear understanding of the coin that can make a profit. Well, then, let’s see what this DOT coin means, how it is important for us, and how to make a profit from it. said
DOT Coin or Polka Dot will start in 2017. The Polka Dot Blockchain was created by Dr. Gavin Wood. He is a Co-founder of Ethereum Blockchain and can be introduced as CTO of the Ethereum Network. Also, he has good knowledge and experience in Cryptocurrency Blockchain technology for many years. Dr. Gavin Wood is a person who has worked very hard to bring the Ethereum Blockchain to its current state. Realizing the current weaknesses of Ethereum, the Ethereum Blockchain is currently switching to the Proof Of Steak method. Dr. Gavin Wood, who was not satisfied with the time taken for this new update, created the Polka Dot Blockchain.
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Here, the primary purpose of creating Polka Dot Blockchain is to provide solutions to the main weaknesses in Ethereum, which are the decrease in Transition Speed, the high value of Transition Fee, the method used to Validate Transition, and the problems associated with connecting with other Blockchains. Ethereum Blockchain The transition speed is 17 transitions per minute. But this Polka Dot Blockchain has been improved to the extent of 1000 transitions per minute. Similarly, while the Transaction Fee in the Ethereum Blockchain is as large as $15, the Transaction Fee in the Polka Dot Blockchain is as small as $1. Polka Dot Proof Of Steak method is used to validate the transition in the Blockchain. Similarly, they can be connected to any Blockchain through the technical methods introduced by them.
I told you earlier that it is possible to connect with Transition Speed and any Blockchain through the technical methods they introduce. Here they have used 4 methods.
01) Relay Chain
02) Parachains
02) Parathreads
04) Bridges
Currently, the Relay Chain is running and the remaining parts are being developed. It has been mentioned that these activities will be completed at the end of this year. You can find more details about this from their website called https://polkadot.network/.
The coin introduced in Polka Dot Blockchain is called DOT Coin. In 2017, they conducted the first ICO of DOT Coin shortly after they were introduced to Blockchain. We hope to create a pound of 140 million dollars here. The value of a coin here is $30. But they are unsuccessful here. Again they are successful by conducting two rounds of ICO in 2019 and 2020. Here, the price of a coin was mentioned at $6, but in August 2020, it will be listed at $2 in Cryptocurrency Exchange. The price increased to $6 on the first day of listing on Binance Exchange. DOT Coin has been able to raise the price significantly even though the price has been going down gradually. As of today, the price is at the limit of $35.
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The Total Supply of DOT Coins is 1,103,303,471. Currently, 987,579,314 Coins have been issued to the market. The market cap has grown to the amount of $32,779,061,214. The DOT Coin currently occupies the 9th place in the World Cryptocurrency Rank. Since its inception, the market cap has increased by 774%. Well, you must have understood what this Polka Dot Blockchain is and what this DOT Coin is. With the things I have said and the way the coin behaves in the market, many people are expressing their opinions that the price of this coin will soon reach the limit of $100. Also, it is very likely that DOT Coin will be among the first 3 coins very soon. For these reasons, we have this My opinion is that if you buy the DOT Coin at the moment, you can get a good income. Here we can buy the Dollar Cost Average method and increase the income. In any case, before buying, remember to research the market well and buy with understanding.
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You can buy DOT Coin through Binance. If you don’t have a Binance Account yet, you can connect to the website and create a Binance Account correctly and learn how to get good income from this.
I hope you are clear about DOT Coin. We hope that you will continue to stay with our website and bring articles about Alt Coin like this. See you soon with another article. Have a nice day to all of you.
