Friends, today we are going to talk to you about Polka Dot. Of all the coins you've heard so far, it's a little hard to understand. So what is special about Polka Dot, all the coins you knew about till now work on their own blockchain. But the mechanism it has is different and many tokens can be created on its blockchain so there is something special and advanced from Ethereum Know about all these in this blog, so friends,today I am going to talk to you about polka-dot. Before talking about this, let me tell you that whatever we will talk about in this blog, is educational content, do not take it as financial advice from anywhere. Because in this content, we will tell in many places that after listening to polka-dot, you will feel that there is no better coin than this and you will not buy it by getting excited. do your own research so that you can be double sure. And can take the right decision in which coin you have to invest how much So let us know about the polka-dot, before knowing what it is, let us know its history. How did it get started? So polka-dot was started with ethereum. The one who was the co-founder of Ethereum is now its founder. Whose name is Gavin Wood and he is running another company named Parity Technology. Listen carefully to everything, all the links will be connected one by one and then after that, we will give our conclusion as well. So Gavin Wood's company was Peretti Technology. Which makes things related to blockchain and wallets with multi-signature means that many people can use it, makes such hardware wallets. After that, Gavin Wood together with his friend forms an NGO named web3 whose job will be to support polka-dot and help it in search, research and development. There were three companies here. After that Polka Dots launched their ICO. There are so many good technologies of polka dot which I will tell you in the next video which you will feel that there is nothing better than a polka dot. When he launched this project in the market, people bought polka-dot hand-in-hand and 50% of the supply was sold out. And $140 million is equal to the Ethereum they got and the total supply of 10 million is around them now. 50% of the supply that was with them at that time was sold. He received $140 million and that money was stored in a hardware wallet. And whose wallet was it? It was made by Parity Technology So you see everything is going on in their house. Now, Web3 has decided to raise whatever money Parity has on its hardware to make the polka-dot. All that should be kept in these hardware wallets. After 10 days news comes that such an issue came in those hardware wallets that the entire fund got frozen permanently. Now they cannot be used through any member Now he has disappeared, 60% of the amount has been lost. There were around 513000 ethereums that did not hold that much value in 2019. Even after 66% of the value that they got spoiled, the polka-dot continues to run the way it does. Polka dot has such a tremendous technology, so when people came to know that this kind of miss happiness has happened, then people re-invested in it. Then people invested a lot in the private sale, only then did the money come to them and everything continued in the same way. Now know how polka-dot works. Till now all the people who have made cryptocurrency using blockchain, then polka-dot is a little different from it. Meaning polka-dot has used the substrate blockchain which is a product of Peretti Technology. And Gavin Wood knows a good language called Solidity. It is a very used language in the blockchain. For this reason, Polkadot was made special by using this language, which we will talk about next. First, let's look at their website, then you will understand well. So this is their entire blockchain and each part has a different name and a different role and if we talk about that, the first role that comes is the name of Relaychain. And this makes the polka-dot responsive and secure and it acts as its heart. After that Parachain and its use is to take care of all the scripts written on the blockchain. Then there is the parasite and then the bridge. And its use is to connect one blockchain to another blockchain. Meaning any other product can be made on it. And it provides a blockchain by itself, which means that many tokens that are made can use its blockchain. Meaning till now it used to be that bitcoin uses a blockchain, so if you use their blockchain here, then what will be the benefit from it, your transactions will be seamless and all the transactions will be at low cost and whatever script is there will be shared among themselves and which As much as he can keep his separate data and can share as much as he wants, polka-dot has brought this new system to increase sharing and scalability. That's why polka-dot is a bit technical. And after that, there are some other things in the polka-dot which are the nominators, validators, who secure their systems. So this coin works in a different way. Now let's know what is its tokonomics. According to which its token is divided. So the system that has been decided for it is also very different. Its total supply of tokens is also different. Now let's talk about its tokonomics. So first of all know that it works on proof of stake. And 62% of the tokens circulated in the market have been staked. And its total supply is 10 million. And according to the way their token is, according to that, you will find the supply less. Because today more than 1 quadrillion token people are bringing in supply. So they have a system that if their validators who have staked and those people want, whenever they want, its supply can be increased from 10 per cent to 100 per cent. What is its use after that, whenever someone uses the blockchain on Parachain? So when she comes for testing, it has to do stacking. As Kosama had just come, he too had to stake. So a lot of rewards are also available and when the stake is completed you can withdraw the reward All this is used in the system, meaning it is also used for voting, everything else is normal, nothing special and the supply of tokens which is in the market right now is about 10 million, after that soon its supply will increase somewhat. After that does its price go up or down? By now you have reading such a long blog and must have been very bored. And you must be thinking that so much has been told about the polka dot in the blog.. But did not introduce them to those who made polka-dot. So let us introduce you to Gavin Wood and who works very hard and gets tired and then he removes his stress. That too in a public interview, it is a good thing, well friends, take it as a joke, don't take it seriously, everyone has their own life, everyone enjoys it like their own if you have any opinion then comment below. After that let's talk about the potential of polka-dot. So it has potential because it has come up with a unique thing. In the coming time, Ethereum is also following their thing, which is the sharding network, it is going to be launched in Ethereum 2.0 and the whole system is also unique and future potential is also there, so anytime they can get a lot of pumps and There are some supply issues and this can be considered for the long term. Friends, this was my blog about polka-dot, hope you liked the blog if you like the blog, then like the blog and tell me in the comment what is your opinion about polka-dot. GOOD BYE.
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