Polkadot Price Rose More Than 3%

Over the past 24 hours, the price of the cryptocurrency Polkadot has gone in the opposite direction of the graph it was going for the last week and staged 3.7% to $15.77. During the past week, the cryptocurrency has experienced a 5.0% loss.

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Moving in tandem, Polkadot’s volume of trading has climbed to 30.0% over the past week. The overall circulating supply of the coin has increased to 0.27%.

Most of the blockchain works independently. Like- Bitcoin has its own blockchain separate from Ethereum, also the other cryptocurrencies have their own blockchain to operate. And here lies the difference with Polkadot. Polkadot is a multichain network, which means it can connect different blockchains together. the users of this blockchain can build their own blockchain in this Polkadot network to interact with other blockchains.

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The co-founder of Ethereum Gavin Wood came up with the idea of Polkadot and released the white paper in the year 2016. It did not take much time for Polkadot to become one of the largest cryptocurrencies in the world within a year of its launch.

Polkadot rolled out in many phases and the first version of the network launched on May 26, in the year 2020.

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Anupama Das

An active reader and follower of news. A budding journalist tries to spread authentic news to people.

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