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What is Polkadot (DOT) Tokens Faucet


A Polkadot (DOT) Faucet is a way to get free cryptocurrency. Of course, nothing is really free, and faucet users have to do something to get rewards from a faucet.

Before learning more about crypto faucets, it’s important to take note that some people have used Polkadot (DOT) Tokens Faucet to create scams in the past. There could be some crypto faucet sites that infect a user’s device with malware, spyware, or ransomware. Users choose to engage with crypto faucets at their own risk.

A Polkadot (DOT) Tokens Faucet is a website or app that gives out tiny amounts of cryptocurrency in exchange for completing simple tasks. The name “faucet” comes from the fact that the rewards are very small, like drops of water dripping from a faucet.

Any type of data across any type of blockchain

Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred across blockchains. This means Polkadot is a true multi-chain application environment where things like cross-chain registries and cross-chain computation are possible. Polkadot can transfer this data across public, open, permissionless blockchains as well as private, permissioned blockchains. This makes it possible to build applications that get permissioned data from a private blockchain and use it on a public blockchain. For instance, a school's private, permissioned academic records chain could send a proof to a degree-verification smart contract on a public chain.

Network Glossary

Polkadot unites a network of heterogeneous blockchains called parachains and parathreads. These chains connect to and are secured by the Polkadot Relay Chain. They can also connect with external networks via bridges.

Connecting the dots

The heart of Polkadot, responsible for the network’s shared security, consensus and cross-chain interoperability.
Sovereign blockchains that can have their own tokens and optimize their functionality for specific use cases.
Similar to parachains but with a pay-as-you-go model. More economical for blockchains that don’t need continuous connectivity to the network.
Allow parachains and parathreads to connect and communicate with external networks like Ethereum and Bitcoin.
Secure the Relay Chain by selecting trustworty validators and staking dots.
Secure the relay chain by staking dots, validating proofs from collators and participating in consensus with other validators.
Maintain shards by collecting shard transactions from users and producing proofs for validator.
Monitor the network and report bad behavior to validators. Collators and any parachain full node can perform the fisherman role.
Elected to represent passive stakeholders in two primary governance roles: proposing referenda and vetoing dangerous or malicious referenda.
Composed of teams actively building Polkadot. Can propose emergency referenda, together with the council, for fast-tracked voting and implementation.

Built with the best technology

Polkadot’s relay chain is built with Substrate, a blockchain-building framework that is the distillation of Parity Technologies’ learnings building Ethereum, Bitcoin, and enterprise blockchains. Polkadot’s state machine is compiled to WebAssembly (Wasm), a super performant virtual environment. Wasm is developed by major companies, including Google, Apple, Microsoft, and Mozilla, that have created a large ecosystem of support for the standard. Polkadot’s networking uses libp2p, a flexible cross-platform network framework for peer-to-peer applications. Positioned to be the standard for future decentralized applications, libp2p handles the peer discovery and communication in the Polkadot ecosystem. The Polkadot runtime environment is being coded in Rust, C++, and Golang, making Polkadot accessible to a wide range of developers.

Processing transactions in parallel

Parachains are specialized blockchains that connect to Polkadot. They will have characteristics specialized for their use cases and the ability to control their own governance. Interactions on parachains are processed in parallel, enabling highly scalable systems. Transactions can be spread out across the chains, allowing many more transactions to be processed in the same period of time.

What is Polkadot? (DOT)

Polkadot is a sharded heterogeneous multi-chain architecture which enables external networks as well as customized layer one "parachains" to communicate, creating an interconnected internet of blockchains. The network uses an environmentally-friendly proof of stake consensus algorithm. The protocol was created by the Ethereum co-founder Gavin Wood and is developed by the Web3 Foundation with the initial implementation by Parity Technologies. In June 2021, Coinbase added Polkadot to its cryptocurrency trading platform. Polkadot's first token sale closed on October 27, 2017 raising a total of 485,331 ETH (Ether, the currency of the Ethereum blockchain).

Polkadot is a blockchain network designed to facilitate fast transaction confirmations

Polkadot is a blockchain that seeks to connect an ecosystem of blockchains, and toward this goal, it introduces a number of novel technical features. Polkadot network is made up of two types of blockchains. A main chain, called a relay chain, where all transactions are agreed upon permanently, and user-generated chains, which are called parachains. Check out the chart above to get historical and live Polkadot price data, then use the buy/sell button to start trading.