The Polkadot DOT token is currently the sixth largest cryptocurrency in terms of market capitalization. Thus, this young project left Bitcoin Cash (BCH) behind. On this occasion, the co-founder of Polkadot – Gavin Wood, announced an action plan for next year.
Polkadot is ahead of BCH in less than a year after its premiere
Wood published updating the network with new goals for 2021 by writing:
Polkadot is currently the second most active DeFi ecosystem after Ethereum.
Despite frequent comparisons with blockchain number two, Polkadot is more of a supplement to Ethereum, improving its scalability. It is an ecosystem that allows assets to be transferred between different blockchains. The project’s activities are centered around Ethereum, but more platforms are planned in the future.
Gavin wrote that the coming year is important for the development of the protocol. The ecosystem will bundle all individual functions, such as parachaines, and lease them to project developers who want to build applications on these very chains.
The project treasury will continue to issue subsidies to developers. For this purpose, it will use nearly 10.4 million DOT (worth $ 85 million). The network is currently secured by 63% of DOT token holders.
Season for alts? No! Season on Polkadot!
The native Polkadot DOT token is gaining momentum as the price of Ethereum rises. At the time of writing this article, the DOT token costs $ 8.2. DOT overtook Ethereum’s competitors such as EOS and Cardano in less than a week of its launch. Now the project has also defeated the Bitcoin fork – Bitcoin Cash, reaching a total market capitalization of $ 7.7 billion.
Alt season being replaced by $ for season.
That is all!
– Polkadot XO (@Trader_XO) December 31, 2020
If you would like to learn more about the Polkadot project and the DOT token, we invite you to read our extensive guide: What is Polkadot and the DOT token?
Current course You can always check Polkadot and other cryptocurrencies in the cryptocurrency rate tab on the website. A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.