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Top Polkadot Ecosystem tokens by market capitalization

Polkadot Ecosystem contains 63 coins with a total market capitalization of $17.65B and an average price change of +1.60%. They are listed in size by market capitalization.

The Polkadot Ecosystem includes a collection of technologies, platforms, and protocols built on the Polkadot blockchain. Polkadot is a decentralized platform that aims to enable various blockchains to transfer messages and value in a trust-free fashion, seeking to make a web where independent blockchains can exchange information. The network was founded by Gavin Wood, co-creator of Ethereum, and raised USD 145 million in its high-profile ICO in 2017.

At the heart of its architecture lies the Relay Chain, which provides the main consensus and interoperability between participating chains. Additionally, there are Parachains, which are parallel blockchains that plug into the Relay Chain for security and communication. Polkadot's design emphasizes scalability, customization, and interoperability, allowing developers to create a diverse range of applications and systems without being confined to a single development environment. Furthermore, Polkadot uses a unique consensus mechanism known as nominated proof-of-stake (NPoS) which ensures the network remains secure and efficient.

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NamePrice24h (%)7D (%)Market cap24h volumeSupplyLast 24hOperation
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$0.01078+9.24%-16.29%$0$12,248.960.00
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Pink
PinkPINK
$0.0005751-0.49%-20.69%$0$3,208.270.00
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$0.0003685+1.51%-23.49%$0$117.670.00
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$0.{4}5975-6.45%-22.97%$0$34,466.760.00
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$0.5513-6.45%-17.72%$0$10,319.540.00
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$0.007380+10.59%+7.60%$0$52,384.10.00
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$0.02840-5.88%-1.16%$0$1,336.340.00
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$0.1808-0.14%-11.26%$0$2,684.760.00
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$1.18-2.81%-38.93%$0$1.41M0.00
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$0.01781+7.12%-12.66%$0$30,377.190.00
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$0.06270-1.70%-28.03%$0$3.62M0.00
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$0.009110-6.56%-31.69%$0$409.790.00
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Ceres
CeresCERES
$7.64-4.03%-17.57%$0$455.930.00
FAQ

Where does Polkadot fit into the layered blockchain classification? Is it a Layer 1 or Layer 2, or something else?

Polkadot is often referred to as a "Layer 0" blockchain. This is because it functions as a metaprotocol on top of which multiple Layer 1 blockchains, be they smart contract platforms or application-specific blockchains, can be built and interconnected. By positioning itself as a Layer 0, Polkadot provides the underlying infrastructure and security for these Layer 1 chains, emphasizing its role in facilitating interoperability and scalability within the broader blockchain ecosystem.

How does Polkadot achieve scalability?

Polkadot achieves scalability through its multi-chain architecture, especially with its Parachains (parallel chains). By allowing multiple blockchains to run in parallel and offloading the computational burden among them, the network can process more transactions concurrently, leading to higher scalability.

What are Parachains and how do they differ from the Relay Chain?

Parachains are individual blockchains that run in parallel within the Polkadot ecosystem. They can have their own tokens, consensus mechanisms, and functionalities. The Relay Chain, on the other hand, is Polkadot's main chain and is responsible for the network's security and consensus, as well as facilitating communication between Parachains.

What's the role of the DOT token in the Polkadot network?

The DOT token serves several functions within Polkadot: it's used for governance (allowing holders to vote on proposed changes), staking (securing the network and participating in consensus), bonding (used to connect Parachains to the Relay Chain), and to pay for transaction fees on the network.

How does Polkadot's interoperability feature work?

Polkadot uses cross-chain message passing (XCMP) to allow Parachains to exchange messages and values. This ensures seamless interoperability among different blockchains in the Polkadot ecosystem. Additionally, bridges can be developed to connect Polkadot to external blockchains, further expanding its interoperability capabilities.

What is the difference between Polkadot and its sister network, Kusama?

While Polkadot is geared towards providing a stable platform with high security for businesses and enterprises, Kusama is often described as Polkadot's "canary network" or "wild cousin." Kusama has faster governance parameters and is more experimental, allowing developers to test and deploy new features or projects before introducing them to Polkadot.

Can developers create custom blockchains on Polkadot?

Yes, using the Substrate framework, developers can create custom blockchains tailored to their specific needs. These blockchains can then be connected to the Polkadot network as Parachains, benefiting from Polkadot's security and interoperability features.

How does Polkadot handle the potential centralization of validators, where only a few parties might control the majority of validation power?

Polkadot employs a nominated proof-of-stake (NPoS) system. DOT holders nominate validators, and an algorithm ensures a diverse set of validators is chosen for the active set. This system, combined with regular rotations and slashing for misbehavior, helps to mitigate the risks associated with centralization.

How does Polkadot ensure its security?

Polkadot uses a hybrid consensus mechanism, combining elements of both nominated proof-of-stake (NPoS) and GRANDPA (GHOST-based Recursive Ancestor Deriving Prefix Agreement). This ensures that the network remains secure against malicious attacks, and validators are incentivized to act honestly. Additionally, the shared security model means that the Relay Chain's security extends to all Parachains.