Hello Good Folk,
I have been a little bit far away from the crypto world. it seems a lot has changed since. I want to invest in Polkadot, which refers to the DOT coin. Please give your valuable suggestion, if that has the potential to grow. I am

This information was gathered from ref: https://www.coingecko.com/en/coins/polkadot for a better understanding, I try to collect and give a summary with the hope of getting help and your valuable suggestion. Please be my devil's advocate and help me to show the way.

What is Polkadot?

Polkadot is a Layer-0 open-source blockchain platform and cryptocurrency that allows multiple blockchains to connect and operate within itself. It allows protocols and blockchain to share their unique features while pooling their security. In brief, Polkadot is a scalable heterogeneous multi-chain technology.

Polkadot is heterogeneous because it is entirely flexible and makes no assumption about the nature or structure of the chains in the network. Even non-blockchain systems or data structures can become parachains if they fulfill a set of criteria.

Polkadot may be considered equivalent to a set of independent chains (e.g., a set containing Ethereum, Ethereum Classic, Namecoin, and Bitcoin), except with important additions: pooled security and trust-free interchain translatability.
Who founded Polkadot?

Gavin Wood, Robert Habermeier, and Peter Czaban founded Polkadot, Web3 Foundation's flagship protocol. Wood is a prominent figure in the blockchain industry, having co-founded Ethereum and Solidity. Habermeier was a Thiel Fellow with a background in blockchains and cryptography, while Czaban brings experience in fintech.
How does Polkadot work?

Polkadot’s architecture includes a central Relay Chain with non-native blockchains running on top of the network called Parachains. The Relay Chain handles the network’s security, consensus, and interoperability, secured using a Nominated Proof-of-Stake (NPoS) consensus model. Many parachains are written using the Polkadot Runtime Environment SDK, which allows developers to create their own parachains to operate on the Polkadot network.

There are many types of parachains each specialised for its own uses cases, such as:

System parachains, which uses Polkadot’s native token, DOT
Bridge parachains to connect to external network like Kusama, Polkadot’s Canary Network
Smart contract parachains for hosting EVM dApps.

Polkadot 2.0

In Polkadot 2.0, Polkadot will migrate from a chain-focused ecosystem to an application-focused ecosystem. This means instead of owning an execution core at all times, each parachain will need to reserve and purchase blockspace based on their needs. The coretime marketplace model is expected to lower the entry barriers for developers.
What is the DOT token?

As Polkadot’s native token, DOT holders have governance rights to guide the operations of Polkadot DAO. They can also contribute to the network’s security through staking. New parachains are added by bidding DOT tokens through auctions. In the Polkadot 2.0 update, DOT tokens can be used to buy coretime.
Where can you buy Polkadot?

DOT tokens can be traded on centralized crypto exchanges. The most popular exchange to buy and trade Polkadot is Binance, where the most active trading pair DOT/USDT has a trading volume of $19,121,058 in the last 24 hours. Other popular options include WhiteBIT and HTX.
What is the daily trading volume of Polkadot (DOT)?

The trading volume of Polkadot (DOT) is $193,150,127 in the last 24 hours, representing a -16.00% decrease from one day ago and signalling a recent fall in market activity.
What is the all-time high for Polkadot (DOT)?

The highest price paid for Polkadot (DOT) is $54.98, which was recorded on Nov 04, 2021 (almost 3 years). Comparatively, the current price is 92.88% lower than the all-time high price.

What is the all-time low for Polkadot (DOT)?

The lowest price paid for Polkadot (DOT) is $2.70, which was recorded on Aug 20, 2020 (about 4 years). Comparatively, the current price is 45.22% higher than the all-time low price.
What is the market cap of Polkadot (DOT)?

Market capitalization of Polkadot (DOT) is $5,610,034,425 and is ranked #21 on CoinGecko today. Market cap is measured by multiplying token price with the circulating supply of DOT tokens (1.4 Billion tokens are tradable on the market today).

What is the fully diluted valuation of Polkadot (DOT)?

The fully diluted valuation (FDV) of Polkadot (DOT) is $5,927,114,302. This is a statistical representation of the maximum market cap, assuming total number of 1.5 Billion ETH tokens are in circulation today.

How does the price performance of Polkadot compare against its peers?

With a price decline of -2.50% in the last 7 days, Polkadot (DOT) is underperforming the global cryptocurrency market which is up 2.40%, while underperforming when compared to similar GMCI 30 Index cryptocurrencies which are up 0.00%.

For more information plz visit: https://www.coingecko.com/en/coins/polkadot

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