{"id":9177,"date":"2023-06-27T12:00:19","date_gmt":"2023-06-27T12:00:19","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=9177"},"modified":"2025-09-10T15:27:16","modified_gmt":"2025-09-10T15:27:16","slug":"what-is-polkadot-dot","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/what-is-polkadot-dot","title":{"rendered":"What is Polkadot (DOT)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-polkadot-dot\/#history_of_polkadot\" >History of Polkadot<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-polkadot-dot\/#how_does_it_work\" >How does it work?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-polkadot-dot\/#polkadot_wallets\" >Polkadot Wallets<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p>Polkadot is an open source project that connects multiple blockchains in the same network, thus ensuring their <strong>security<\/strong> and <strong>better performance.<\/strong><\/p>\n<p>Polkadot allows the <strong>operability<\/strong> of different blockchains with very opposite properties. Its main objective is to reshape the structure of the Internet by returning control to the people over monopolies. By allowing the interaction of different blockchains, it provides several advantages such as <strong>scalability<\/strong>, <strong>working together<\/strong> with opposing functions and greater <strong>autonomy<\/strong> to the participating networks.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"history_of_polkadot\"><\/span>History of Polkadot<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>This project was born from the community&#8217;s need to build a platform capable of working with <strong>different blockchains<\/strong> at the same time, in a <strong>decentralized<\/strong> way. All of this with the objective that the platform can adapt to constant changes in the network.<\/p>\n<p>Polkadot&#8217;s story begins with its first report in October <strong>2016<\/strong>, however, the project was not created immediately. The Polkadot whitepaper was presented by <strong>Gavin Wood<\/strong>, who is also a co-founder of Ethereum and Parity Technologies.<\/p>\n<p>La principal propuesta era servir como punto de conexi\u00f3n entre <strong>blockchains p\u00fablicas y privadas<\/strong>, permitiendo la <strong>portabilidad<\/strong> de la informaci\u00f3n entre empresas distintas o con un distinto funcionamiento. Its main objectives also include <strong>scalability<\/strong>, working together, <strong>governance<\/strong> autonomy and achieving constant updating among all blockchains.<\/p>\n<p>After a year of publicizing the project, in mid-2017 Wood created the company called <strong>Web3 Foundation<\/strong> which, in collaboration with Technologies, would be in charge of <strong>launching the project in 2020.<\/strong> Finally, in October <strong>2017<\/strong> an <strong>ICO<\/strong> (Initial Cryptocurrency Offering) of Polkadot was launched which went down in history as one of the most successful at the time.<\/p>\n<p>In that ICO, a total of 5 million tokens were offered at a price of $30 each. By the third day, <strong>all the assets<\/strong> had been sold, thus capitalizing some US$150 million. The coin itself was very successful, since only two months later it <strong>quadrupled<\/strong> its initial value, reaching a capitalization of more than 600 million dollars.<\/p>\n<div class=\"is-divider divider clearfix\"><\/div>\n<h2><span class=\"ez-toc-section\" id=\"how_does_it_work\"><\/span>How does it work?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The operation of the platform is based on the <strong>Substrate<\/strong> blockchain framework. The applications based on this platform have the characteristic of being able to <strong>exchange<\/strong> data between them. In other words, Polkadot enables sharing and interoperability in its network and can be <strong>extended<\/strong> to each new user.<\/p>\n<p>Another of Polkadot&#8217;s main features is that it operates under the <strong>Proof of Stake<\/strong>(PoF) consensus algorithm. Polkadot has its own token called <strong>DOT.<\/strong> Under this consensus the platform&#8217;s cryptocurrency owners (DOTs) can operate as network validators and also cast their <strong>voting<\/strong> power on decisions made regarding changes to the platform.<\/p>\n<p>The DOT, in addition to supporting the platform, acts as an incentive for the collaborators in the network, since the more DOTs they have, the more <strong>participation<\/strong> and <strong>control<\/strong> they will have over the protocol. This operation has a dual purpose, since the owners of the cryptocurrency have control over the <strong>security<\/strong> of the entire network, which falls into the hands of those who want to keep it afloat.<\/p>\n<p>To maintain the current performance, Polkadot has three fundamental components.<\/p>\n<ul>\n<li><strong>Main Network:<\/strong> This is the fundamental component of the network and is the backbone of the system. This is where data exchanges and transactions between blockchains take place.<\/li>\n<\/ul>\n<ul>\n<li><strong>Parachains:<\/strong> Parachains are networks that operate in parallel acting as a two-way channel for the exchange of information with the backbone.<\/li>\n<\/ul>\n<ul>\n<li><strong>Bridges:<\/strong> They figure as the link points for exchange between other blockchain networks with their own consensus mechanism such as Ethereum.<\/li>\n<\/ul>\n<p>In addition to the fundamental components of the network we find as <strong>key points<\/strong> of its operation 4 other parts.<\/p>\n<p>On the one hand, there are the <strong>nominators<\/strong>, who function as trusted validators that secure the network.<\/p>\n<p>The <strong>validators<\/strong> are also a key point in the operation, since they are in charge of sealing the network blocks.<\/p>\n<p>The third point is the <strong>classifiers<\/strong>, in charge of maintaining the blocks and the information necessary to create new network blocks.<\/p>\n<p>Lastly, there are the <strong>fishermen<\/strong>, who are in charge of finding malicious behavior on the network.<\/p>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<div id=\"image_541992291\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1024x701.jpg\" sizes=\"(max-width: 1020px) 100vw, 1020px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-2048x1403.jpg 2048w\" alt=\"What is Polkadot Bitnovo\" width=\"1020\" height=\"698\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1024x701.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-300x206.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-768x526.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1536x1052.jpg 1536w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-2048x1403.jpg 2048w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/01\/Que-es-Polkadot-1-1024x701.jpg\" data-sizes=\"(max-width: 1020px) 100vw, 1020px\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<h2><span class=\"ez-toc-section\" id=\"polkadot_wallets\"><\/span><b>Polkadot Wallets<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>If you decide to buy Polkadot you will need a wallet to store your assets. Here are some of the most recommended wallets to store this cryptocurrency.<\/p>\n<ul>\n<li>Among the most secure wallets we find the wallet<strong>Ledger Nano<\/strong> hadware. This wallet guarantees great security for our assets. In addition to Polkadot, it allows the storage of other tokens.<\/li>\n<\/ul>\n<ul>\n<li>Another of the most recommended wallets to store Polkadot is <strong>Polkawallet.<\/strong> This wallet allows the storage of various assets, including Polkadot. It also has a very simple interface ideal for getting started in the world of cryptocurrencies.<\/li>\n<li>Another option is the <strong>Lunie<\/strong> wallet. This is very similar to Polkawallet although it is open source and is also available in a mobile version.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Polkadot is an open source project that connects multiple blockchains in the same network, thus ensuring their security and better performance. Polkadot allows the operability of different blockchains with very opposite properties. Its main objective is to reshape the structure of the Internet by returning control to the people over monopolies. By allowing the interaction [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":8284,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-9177","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9177","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=9177"}],"version-history":[{"count":2,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9177\/revisions"}],"predecessor-version":[{"id":24760,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/9177\/revisions\/24760"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/8284"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=9177"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=9177"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=9177"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}