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A cryptocurrency, crypto-currency, or crypto is a digital asset

A cryptocurrency (or “crypto”) is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions.

What is Polkadot?

Polkadot development is on track to deliver the most robust platform for security, scalability and innovation.

Security for everyone

Polkadot's novel data availability and validity scheme allows chains to interact with each other in a meaningful way. Chains remain independent in their governance, but united in their security.

Easy blockchain innovation

Create a custom blockchain in minutes using the Substrate framework. Connect your chain to Polkadot and get interoperability and security from day one.

A cryptocurrency, broadly defined, is currency that takes the form of tokens or “coins” and exists on a distributed and decentralized ledger.

DOT cryptocurrencies as the currency of the future

Polkadot is a revolutionary blockchain infrastructure designed to enable the next generation of the web where users control their own data and identity. It creates this infrastructure by providing a way to connect different, independent blockchains together in a single network, allowing them to interoperate, exchange data, and process transactions with the benefit of shared security provided by the Polkadot Relay Chain. It also allows interaction with non-blockchain systems and established blockchains such as Bitcoin and Ethereum.

Polkadot is a project of Web3 Foundation. Before being integrated into Polkadot, the technology can be tested on the experimental platform Kusama, which has been built with (almost) the same code. DOT - the native Polkadot tokens - serve several functions. They: give holders a role in controlling the governance of the platform are staked for operating the network can be bonded for a parachains can be used to pay fees within the network Polkadot is the brainchild of Gavin Wood, co-founder and former CTO of Ethereum.

https://polkadot.network/PolkaDotPaper.pdf

Mining

Cryptocurrency mining is the process in which transactions between users are verified and added to the blockchain public ledger. The process of mining is also responsible for introducing new coins into the existing circulating supply and is one of the key elements that allow cryptocurrencies to work as a peer-to-peer decentralized network, without the need for a third party central authority.

Cryptocurrencies Use Decentralized, Distributed Systems

How does it work?

A miner is a node/device in the network that collects transactions and organizes them into blocks. Whenever transactions are made, all network nodes receive them and verify their validity. Then, miner nodes gather these transactions from the memory pool and begin assembling them into a block (candidate block).