What is Polkadot?

Polkadot is the first fully-sharded blockchain. Polkadot enables scalability by allowing specialized blockchains to communicate with each other in a secure, trust-free environment.

Polkadot is the first Layer Zero blockchain, Layer 1 blockchain connected to Layer Zero.

What is DOT?

DOT is the native token of the Polkadot network in a similar way that BTC is the native token of Bitcoin or Ether is the native token of the Ethereum blockchain.

What are the uses of DOT?

DOT serves three key functions in Polkadot:

• to be used for governance of the network,
• to be staked for the operation of the network,
• to be bonded to connect a chain to Polkadot as a Parachain.

What is the inflation rate of the DOT ?

The inflation rate is approximately 10% per year.

A portion of the inflation is rewarded to validators for performing their duties, while another portion may go directly to the treasury. The exact percentage that goes into both varies and is based on the amount of DOT that are staked. Please see the article on inflation for more information.

Which address format Polkadot uses ?