What Is Polkadot?

DOT is the native token of Polkadot, an open-source multichain network launched in 2017 by the Swiss-based Web3 Foundation (founded by Gavin Wood, who also co-founded Ethereum). The Web3 Foundation was established to build a fully functional and user-friendly decentralized internet. Polkadot is a sharded protocol that enables blockchain networks to operate together, sharing information and functionality. The DOT token allows Polkadot to connect private and consortium chains, public and permissionless networks, oracles (connecting smart contracts with real-world data), and future technologies. Communities on Polkadot can tailor their blockchain’s governance according to their needs and aims, and Polkadot’s forkless upgrading allows blockchains to evolve and adapt. In partnership with other entities, the Web3 Foundation is awarding grants to build the Polkadot ecosystem and develop the services and applications that it will host. See below for a full selection of markets where you can trade DOT for other cryptocurrencies, US dollars, and other fiat currencies.