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Polkadot FAQ
What's the deal with Polkadot (DOT)?
Polkadot links various blockchains into a multiverse of crypto possibilities. Many call it a "blockchain superhero"
What makes DOT stand out in this crowded crypto cosmos?
DOT offers interoperability, parachains, and staking.
How does Polkadot's "relay chain" work?
It secures the entire Polkadot network: process transactions and connects parachains for seamless and swift data transfer.
What the heck are "parachains", and why are they so cool?
Parachains are individual blockchains on Polkadot, each with its tokens and unique features, connected to the main network.
Can I earn by staking DOT?
Absolutely! Polkadot's prominent Nominated Proof-of-Stake (NPoS) consensus mechanism lets its users easily stake DOT. The best option is native staking, which is presented on Polkadot Network's official website.
What's the deal with DOT's "Nominated Proof-of-Stake" (NPoS)?
It is a variation of a well-known PoS. NPoS is more democratic as it allows DOT's holders nominate validators they trust. This way, users are earning rewards for their support while making the network safe.
How does DOT handle "bridges" to other blockchains?
To bridge blockchains, DOT employs different tools like smart contracts, higher-order protocols, and pallets. All these allow making transactions between various blockchains.
What's DOT's "governance" and why should I care?
DOT holders can play a role in decisions about network changes and upgrades. You'd better care if you're having DOT tokens in your wallet or like Polkadot in general!