Dot is the original token of Polkadot platform, which is mainly used to manage the platform, operate the network, create blockchain by binding DOT, and pay for information transmission.
Polkadot was founded on 20 15. The main person in charge of Polkadot project is the famous Dr. Gavin Wood. Dr Gavin Woods is one of the founders of Ethereum and the producer of Ethereum Yellow Book.
After Gavin Wood left Ethereum, he set up his own technology company, Parity. At present, Polkadot project is managed by parity.
Extended data:
Point tokens have three main uses in Polkadot networks:
1. Governance: Token holders will have full control over the protocol. Privileges normally reserved for miners on other platforms will include the privileges of token holders, including determining the fee structure, changing the agreement, and adding or deleting side chains.
These functions are not officially granted to token holders, but because they are token holders, they will be able to participate in the decision-making process. This participation function will be built into the basic code.
2. Operation: Point token will promote the basic knowledge mechanism of Polkadot network. Token holders need to actively participate in and use "bond" tokens (putting them at risk) to prevent malicious acts.
3. Guarantee and payment: This is a value mechanism. DOT will be used as a reward for actively participating in the network. You also need to bind DOT to add a new parallel chain, which is a proof of rights.
Digital currency is an unregulated digital currency, which is not issued by the central bank or authorities, nor is it linked to legal tender. However, it can be used as a means of payment because it is accepted by the public. At present, digital currency is more like an investment product, and its development cannot be separated from trading platforms, operating companies and investors.
The most representative ones in digital currency are Bitcoin and Litecoin. The concept of Bitcoin was first put forward by Satoshi Nakamoto on June 5438+065438+ 10/day, 2008, and was officially born on June 5438+1 0/3, 2009, with a total of 2 1 10,000. Compared with legal tender, Bitcoin has no centralized issuer, but is generated through the calculation of network nodes.
Litecoin, abbreviated as LTC, is an improved version of digital currency inspired by Bitcoin. The creation and transmission of Litecoin is based on open source encryption protocol and is not managed by any central organization. It is estimated that 84 million Litecoin will be produced, which is four times the circulation of Bitcoin.