POLKADOT

A platform for Web3. Polkadot is the flagship project by Web3 Foundation, a Swiss Foundation founded to facilitate a fully functional and user-friendly decentralized web.

Who’s building Polkadot? Researchers from Inria Paris and ETH Zurich, developers from Parity Technologies, and capital partners from crypto-funds such as Polychain Capital are all working together to develop a superlative realization of Web3, with Polkadot at its core.

The DOT token serves three distinct purpose: 1. Governance 2. Staking 3. Bonding

Governance Polkadot token holders have complete control over the protocol. All privileges, which on other platforms are exclusive to miners will be given to the Relay Chain participants (DOT holders), including managing exceptional events such as protocol upgrades and fixes.

Staking Token holders keep the network secure and collect rewards by staking DOT. Polkadot’s advanced staking system is designed for maximum decentralization and fair representation, rewarding good actors and punishing bad actors to ensure network security.

Bonding New parachains are added by bonding tokens. Outdated or non-useful parachains are removed by removing bonded tokens. This is a form of proof of stake.

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