What Is Polkadot (DOT)?

Polkadot (DOT) is a decentralized protocol that connects different blockchains, enabling them to transfer data and value among each other. It uses a primary blockchain called the "relay chain" and multiple parallel blockchains or "parachains" to increase scalability and transaction speed. DOT, the native token, is used for governance and staking in the network. Polkadot's design allows for high transaction throughput and is intended to foster a more interconnected blockchain ecosystem. The network was launched in 2020, with significant contributions from Gavin Wood, a co-creator of Ethereum.