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2021-01-27 20:00:57

What is Polkadot

The Polkadot authority called it’s a next-generation blockchain system connecting different specialized blockchains into one unified network. Dr. Gavin Wood founded the Polkadot in the year 2016 on 14th November.

The most curious thing had happened when Dr. Gavin wood was declared the Polkadot token protocol and offered it on the market. This time the value was raised by $144.3 million. After a year, Polkadot achieved a place in the top cryptocurrency list.

How Polkadot tokens work?

Everyone knows that Ethereum 2.0 and Polkadot is sharing the similarity of a sharded protocol. But everything is not the same thing between them. Beacon Chain is sharing information by using different parallel shards plug, but one condition is a compatible structure that can connect to the chain.

On the other hand, the Relay chain is softer, and it can operate independently. Relay Chain uses the standard Web Assembly validators; it can use the different Para chains. The external chains of Polkadot can connect to Polkadot’s system by utilizing the bridges between other Para chains.

Is it safe to use?

In this short time, Polkadot has been passed a lot of challenges. So, users believe it's a safe system. But always some positive and negative things happened everywhere. Polkadot's community-governed hybrid consensus could be a risk for users as crypto analyzers. Maybe the intentions of Polkadot are suitable for its users, but who knows the real fact. Crypto specialist says there could be another risk because a vast number of investments has come from China. As the expert’s analysis, most of the investors are regular farmers, and they are wondering how it affects the inactive DOT holders with the insanely high inflation.

Polkadot price prediction for upcoming years

Many price analysts tried to predict a price for the Polkadot’s, that’s why there are some possible moves we found from analysts. Currently, a Polkadot token price is almost $16, but it could be hit at $20 at the ending of January 2021. It could surge at $30 to 39 during May-July of 2021, and at the end of this year could hit on $50. Experienced crypto analysts made the predictions. You have to remember the prognosis is not the result. As the prediction, we think the price should be higher!

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