Polkadot (DOT) Blockchain Infrastructure and Smart Contracts

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BYBIT:DOTUSDT.P   DOTUSDT Perpetual Contract
Polkadot (DOT) Blockchain Infrastructure and Smart Contracts: Web3 Foundation and Parity Technologies

➡️ Web3 Foundation https://web3.foundation/, based in Switzerland, is an organization dedicated to promoting Web3 technologies, with Polkadot as its flagship product. Its founder, Gavin Wood, was one of the co-founders of Ethereum and played an important role in developing the leading altcoin, including the widely known Solidity programming language.

➖ In the last four years, Web3 Foundation has granted a total of 480 grants to various projects (https://medium.com/web3foundation/web3-foundation-grants-wave-16-recipients-e51ba7e0a8bf). The numbers include 60 grants in 2019, 147 in 2020, 123 in 2021, and 150 in 2022.

➖ Parity Technologies (https://www.parity.io/), founded by Gavin Wood, is the company behind Polkadot blockchain. Wood served as CEO of Parity for many years and currently serves as the company's Chief Architect.

➖ Since the launch of parachains in late 2021, Polkadot has become a large and diverse ecosystem with 74 parachains currently active on the network (https://polkadot.network/blog/polkadot-2022-roundup/). In total, there are about 550 projects running or in development on Polkadot's technological stack.

➖ Over 200 teams have launched or are creating their own blockchains on the Polkadot network, recognizing that this model better suits their needs.

🎉 Exciting news arrived in November 2022 when Web3 Foundation announced after three years of collaboration with SEC that Polkadot's native token, DOT, has transformed and is no longer considered a security.

Web3 Foundation's Polkadot Reaches New Milestones in 2022: Record Development and Tokenomics Explained 💥🚀

In 2022, the Web3 Foundation grant program reached two important milestones: receiving its 1000th grant application and supporting its 400th project. It's no surprise that Polkadot's development reached record levels in 2022. DOT is the native token of the Polkadot network.

➖ Polkadot has no maximum coin limit (inflationary model), and rewards are distributed through the protocol's staking mechanism.

➖ Currently, there are 1.16 billion DOT tokens in circulation. It is expected that the supply of DOT tokens will reach 1.5 billion by January 2025

➖ Check out the detailed tokenomics (https://www.coingecko.com/en/coins/polkadot/tokenomics#:~:text=The%20launch%20of%20Polkadot%20v1,b%20tokens%20by%20Jan%202025) and Polkadot's roadmap (https://polkadot.network/blog/polkadot-roadmap-roundup). Priorities include scalability, inter-parachain communication, Relay Chain management, staking, and bridges to other ecosystems.

💥 In 2022, the project truly showed good development dynamics. However, it's important to keep in mind that Polkadot is still a very young ecosystem (the average parachain has been on the network for only about 6 months). This year, the project team will need to put in a lot of effort to keep up with the race of leading blockchains.🚀
It seems like the second option is still valid, so I've decided to take a long position on ATOM/USDT. I will be monitoring the situation closely.


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