DOT Live Price

Polkadot stands as an open-source sharded multichain protocol designed to interconnect and safeguard a network of specialized blockchains. Its primary function is to enable the seamless cross-chain transfer of diverse data or asset types, extending beyond tokens. This capacity ensures interoperability among blockchains, shaping Polkadot as the cornerstone for a decentralized internet of blockchains, commonly referred to as Web3.
Identified as a layer-0 metaprotocol, Polkadot serves as the foundational framework for a network of layer 1 blockchains, termed parachains (parallel chains). Operating as a metaprotocol, Polkadot possesses the unique capability to autonomously and forklessly update its own codebase through on-chain governance, aligning with the preferences of its token holder community.
In pursuit of a decentralized web controlled by users, Polkadot simplifies the creation of new applications, institutions, and services. The protocol establishes connections among public and private chains, permissionless networks, oracles, and emerging technologies, allowing these independent blockchains to trustlessly exchange information and transactions via the Polkadot Relay Chain (further elaborated below).
The native DOT token within the Polkadot ecosystem serves three distinct purposes: staking for operational security, facilitating network governance, and bonding tokens to interconnect parachains.