Polkadot development is on track to deliver a robust platform for security, scalability, and innovation. Currently, Polkadot is in the NPoS phase of launch. Polkadot enables cross-blockchain transfers of any type of data or asset, not just tokens. Connecting to Polkadot gives users the ability to interoperate with a wide variety of blockchains in the Polkadot network.
The DOT token serves three distinct purposes: governance over the network, staking, and bonding.
At block number 1,248,328 on August 21st at approximately 16:40 UTC, the DOT token underwent a redenomination from its original sale. The new DOT token is 100x smaller than the old DOT (before block number 1,248,328). Therefore, holders' DOT balance became 100x higher and the price per DOT 100x lower. The percentage of the DOT own relative to total supply remained unchanged thus, it did not affect the total value of holder' position. "This page refers to the new DOT which is 100x smaller than the old DOT (the DOT token underwent a redenomination from its original sale on 21 August 2020 at 16:40 UTC, block number 1,248,328)"Telegram | Discord | YouTube