Polkadot (DOTUSDT) Analysis
❇️What Is Polkadot?
(A Sharded Network for Cross-Chain Communication and Interoperability.)
Polkadot’s design is meant to support several chains. It is not merely a single blockchain that exists in isolation. There are several advantages to its Polkadat is the next generation of blockchain that connects other blockchain networks and builds an integrated network of them. The platform is known as the facilitator of the next generation of the Web, Web 3, which breaks the monopoly of the Internet and makes it available to users. Polkadot, with several fundamental advantages, seeks to transform the structure of Chinese blockchain networks.
approach:
Scalability: Polkadot supports multiple blockchains through a mechanism called “sharding” or parachains. This allows transactions to be processed efficiently and in parallel.
Interoperability: Different Polkadot parachains and applications can share information and functionality thanks to the project’s interoperable design and compatibility between chains.
Specialization: Each Polkadot parachain can be tailored to a specific use case or application.
Forkless upgrades: Polkadot can be upgraded without time-consuming and divisive hard forks; new features can be added without overhauling the network entirely.
❇️ Polkadat-based projects
The Polkadat ecosystem has a wide range of applications. Currently, 188 projects have been built on the basis of this platform. This set includes cryptocurrency projects related to decentralized finance, digital currency wallets, infrastructure projects, tokens, oracle, DAO or independent decentralized organization, privacy, exchange, gaming, IoT, scaling, and more. Some well-known projects based on the Polkadot protocol include Chainlink, Ankr, Celer Network, Akropolis, Ocean Protocol, Zero X Protocol, and i-Token. (imToken) and others mentioned.
❇️The role of Polkadot in Defi projects
Decentralized finance relies on interoperability, interconnection, value transfers, and integrated protocols. The same logic is behind the whole Polkadot project, so DeFi projects use Polkadot. For example, the Defy and Acropolis consensus-based automation projects depend on integration with Maker, Compound, Curve, and dYdX. Because they have had a lot of collaboration with the Polkadat ecosystem.
❇️The similarity of Polkadat with Ethereum 2.0 network
Phase Zero Network (Ethereum 2.0) is scheduled to launch in November 2020. The Polkadat platform also seems to have a striking resemblance to the (Ethereum 2.0) . For example, both blockchains support sharding technology, meaning that the processing is done in parallel by individual shards, which are responsible for dividing the workload and communicating with each other. The Polkadot and Ethereum 2.0 networks also implement hybrid consensus models, staking mechanisms, and state transfer functions.
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❇️Technical analysis
We can see a triangle with horizontal support from below - from this zone we will move to the supply zone
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👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
(A Sharded Network for Cross-Chain Communication and Interoperability.)
Polkadot’s design is meant to support several chains. It is not merely a single blockchain that exists in isolation. There are several advantages to its Polkadat is the next generation of blockchain that connects other blockchain networks and builds an integrated network of them. The platform is known as the facilitator of the next generation of the Web, Web 3, which breaks the monopoly of the Internet and makes it available to users. Polkadot, with several fundamental advantages, seeks to transform the structure of Chinese blockchain networks.
approach:
Scalability: Polkadot supports multiple blockchains through a mechanism called “sharding” or parachains. This allows transactions to be processed efficiently and in parallel.
Interoperability: Different Polkadot parachains and applications can share information and functionality thanks to the project’s interoperable design and compatibility between chains.
Specialization: Each Polkadot parachain can be tailored to a specific use case or application.
Forkless upgrades: Polkadot can be upgraded without time-consuming and divisive hard forks; new features can be added without overhauling the network entirely.
❇️ Polkadat-based projects
The Polkadat ecosystem has a wide range of applications. Currently, 188 projects have been built on the basis of this platform. This set includes cryptocurrency projects related to decentralized finance, digital currency wallets, infrastructure projects, tokens, oracle, DAO or independent decentralized organization, privacy, exchange, gaming, IoT, scaling, and more. Some well-known projects based on the Polkadot protocol include Chainlink, Ankr, Celer Network, Akropolis, Ocean Protocol, Zero X Protocol, and i-Token. (imToken) and others mentioned.
❇️The role of Polkadot in Defi projects
Decentralized finance relies on interoperability, interconnection, value transfers, and integrated protocols. The same logic is behind the whole Polkadot project, so DeFi projects use Polkadot. For example, the Defy and Acropolis consensus-based automation projects depend on integration with Maker, Compound, Curve, and dYdX. Because they have had a lot of collaboration with the Polkadat ecosystem.
❇️The similarity of Polkadat with Ethereum 2.0 network
Phase Zero Network (Ethereum 2.0) is scheduled to launch in November 2020. The Polkadat platform also seems to have a striking resemblance to the (Ethereum 2.0) . For example, both blockchains support sharding technology, meaning that the processing is done in parallel by individual shards, which are responsible for dividing the workload and communicating with each other. The Polkadot and Ethereum 2.0 networks also implement hybrid consensus models, staking mechanisms, and state transfer functions.
------------------------------------------------------------------------
❇️Technical analysis
We can see a triangle with horizontal support from below - from this zone we will move to the supply zone
-------------------------------------------------------------------------------------
👉This analysis is my personal opinion and you are responsible for your own trades or invests.
❤️with Best Regards and successful trades.
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