Polkadot has a price of $ 7.48 with a marketcap of $ 8.56 B. It ranks number 11 of all cryptocurrencies.
Polkadot is an open-source blockchain founded by the Web3 Foundation, a Swiss Foundation founded to facilitate a fully functional and user-friendly decentralized web. Polkadot is a sharded protocol that enables blockchain networks to work together. The DOT token serves three purposes: governance over the network, bonding and staking.
Polkadot aims to enable a completely decentralized web where users are in control. Polkadot is built to connect private and consortium chains, public, and permissionless networks, oracles, and future technologies. Polkadot aims to facilitate an internet where blockchains can exchange information and transactions in a trustless way via the Polkadot relay chain. Polkadot aims to make it easier than ever to create and connect decentralized applications, services, and institutions.
The Web3 Foundation is partnering with entities to build Polkadot and foster the development of services and applications that will run on it. Web3 Foundation is providing grants for the development of the ecosystem.