TL;DR Breakdown

Today’s Polkadot price prediction is bullish as the market lost more than 20 percent yesterday and reached $32 support. Since then, bulls have regained control and the market looks to move back above $38.

The overall market is in the red today. Bitcoin trades with a loss of 2.95%, while Ethereum has a 3.45% decrease. The rest of the altcoin market follows this trend with Litecoin, Chainlink, and Uniswap being among the worst performers.

DOT/USD opened at $36.46 after strong bearish pressure lower yesterday resulted in a spike towards $32 support. Right now, Polkadot price has started to move higher as bulls enter the market with a reduced price. Therefore, we expect DOT to continue moving higher over the next 24 hours.

DOT/USD price moved in a range of $32.66 – $39.33, indicating severe volatility. 24 hour trading volume has spiked by 49 percent and totals $3.3 billion. Meanwhile, the total market cap trades around $35.5 billion, ranking the cryptocurrency in 9th place overall.

On the 4-hour chart, we can see Polkadot price action moving higher over the past hours, indicating that bulls have regained control.

Polkadot continues trading higher over the past weeks after the market retraced more than 40 percent from the previous all-time high at $48. DOT/USD found support at the $28 price level, from which a rapid reversal followed with the market price quickly reaching $34.5.

At the beginning of May, Polkadot pushed higher again, resulting in a clear higher high set at $38. From the $38 high, DOT/USD retraced to retest the $34.5 resistance as support, indicating a strong bullish momentum forming. 

In the middle of last week, Polkadot price experienced another rally – this time with a brief spike to the $44 mark, resulting in a more than 25 percent rally at the peak. Later, DOT/USD retraced and found support at the $38 mark. 

Another attempt to move higher was made on the 9th of May, with the $42 resistance stopping further upside again. What followed was a strong move lower yesterday until the $32 support saw bulls pick up any further selling pressure. 

Today, Polkadot price moved considerably higher and has reached the next resistance at $38. Once it is broken, we should see DOT quickly push higher to retest the $42 resistance again. 

Polkadot price prediction is bullish as a further downside was rejected after a quick spike towards $32 support. Currently, DOT/USD has started to push higher once again, with the $38 resistance likely to be broken later today. This should lead DOT towards the resistance at $42 later this week.

While waiting for further Polkadot price action development, read our guide on another great altcoin – Monero. Additionally, see our guides on investing in cryptocurrencies and the best wallets.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Polkadot is a next-generation blockchain protocol with the objective to bring multiple blockchains together into a single network. The protocol builds on the foundations of previously launched blockchain networks like Ethereum and Cardano. The Polkadot blockchain seeks to provide a framework where individuals can effortlessly build their own blockchains, and it offers transparent and seamless exchange of data among different blockchains.

Back in 2017, Parity Technologies launched Polkadot as an open-source project, in collaboration with the Web3 Foundation. Dr. Gavin Wood, the mastermind behind the Polkadot crypto is Dr. Gavin Wood, co-founder of Ethereum and the author of the Solidity smart contract programming language. Robert Habermeier – the co-founder of Polkadot, is well known for being a distinctive member of the Rust programming language community. 

The four pivotal elements that keep the Polkadot blockchain functioning properly are the Relay Chain, the Parachains, the Parathreads, and the Bridges. Let’s find out a little more in detail about them, shall we?

The Relay Chain is the central Polkadot blockchain where all transactions are validated. The Relay Chain separates the addition of new transactions on the chain and the act of validating them, which allows the Polkadot blockchain to facilitate speedier transactions than most of its contemporaries. The Relay Chain is responsible for the network’s security, consensus, and cross-chain interoperability.

The Polkadot Relay Chain uses a variation on the Proof-of-Stake (PoS) consensus algorithm, dubbed the Nominated-Proof-of-Stake (NPoS). This allows any user staking the Polkadot coin, DOT, to play one or more of the following roles on the network: 

Parachains are the independent blockchains running on top of the Relay Chain. Parachains make use of the Relay Chain’s resources to confirm the accuracy of the transactions made on top of them. Each Parachain on the Polkadot blockchain is meant to serve a specific purpose. Every parachain is maintained by the collator responsible for producing blocks on that chain. 

Parathreads operate much the same way as a full parachain. The basic difference between parachains and parathreads is the fee structure. The registration of a parachain on the Polkadot blockchain is done through a governance proposal or a parachain slot auction. However, there’s a set fee for Parathread registrations that is much lower than the cost of registering a Parachain.

Bridges are the special Parachains that connect the blockchains running within the Polkadot ecosystem to external blockchains like Bitcoin, Ethereum, EOS, and Cosmos. This allows the seamless transfer of tokens between the Polkadot blockchain and outside networks without requiring a centralized exchange.

Polkadot doesn’t have to employ a singular blockchain to provide all kinds of services since the parachains allow the Polkadot ecosystem to employ separate, specialized blockchains to serve different purposes. 

The best thing about the Polkadot parachains is that they are able to cooperate by communicating with each other. Along with enabling different token transfers, the parachains can exchange messages and ask for information. 

While almost all blockchains that came before the Polkadot crypto had issues with the swift processing of transactions, Polkadot does not suffer from that same problem. Since all the parachains process transactions and produce blocks parallelly with the Relay Chain, the speed of the network overall is increased by a significant margin. 

In the case of almost all of the Polkadot blockchain’s predecessors, blockchain upgrades sometimes require forking the network, which takes quite a lot of time and effort. Hard forks especially can be quite difficult for the community members, even causing network splits like Bitcoin Cash. However, with the Polkadot crypto, the parachains and the main blockchain can upgrade themselves without the need for a chain fork. This particular feature allows the projects built on the Polkadot blockchain to implement and adapt to technological updates with ease.

The Polkadot coin, DOT, maintains the Polkadot crypto ecosystem. The Polkadot blockchain is designed to be fully run by its community, and the network allows its users to govern the network in a completely decentralized manner. They can vote on an existing proposal or can propose any changes to the protocol.

With the numerous unique features of the Polkadot blockchain, it’s no wonder that various projects have been building on Polkadot since 2018. These Polkadot projects are diversified and span several industries. Let’s take a look at some of the most popular Polkadot projects built within the ecosystem till date:

Founded in 2019 also by Gavin Wood, Kusama is based on the same codebase as the Polkadot blockchain, albeit being an early, unaudited release. The networks share the same underlying architecture, and governance on both the platforms is decentralized and permissionless, so all users who own the native tokens get a say in how the networks are run (Kusama’s native coin is called the KSM).

Kusama is Polkadot’s canary network. The title comes from the idea that canary birds were used in coal mines so they could detect Carbon Monoxide and other toxic gases and warn the miners of their presence. Similarly, Kusama plays the role of a canary by detecting any shortcomings or vulnerabilities in the Polkadot codebase. Kusama was developed to be a test bed for any and all new features planned to be implemented on the Polkadot blockchain. Once the new features land on Kusama and prove to work just fine, they are integrated with the Polkadot crypto network.

The top exchanges for trading in Kusama are currently Binance, Huobi Global, OKEx, BitZ, and HBTC.

Polkastarter is a DEX (decentralized exchange) built for cross-chain token pools and auctions. Other features of Polkastarter include token swaps through smart contracts, permissionless listings, private pools with password, and high slippage price alerts.

Powered by the Polkadot crypto ecosystem, Polkastarter is able to facilitate cross-chain swaps, and stay connected to the Ethereum Network and other blockchains for liquidity. With Polkastarter, projects will be able to raise capital fast in a decentralized and interoperable environment.

The top exchanges for trading in Polkastarter are currently Huobi Global, OKEx, BiKi, Hoo, and HitBTC. 

Energy Web Token (EWT) is a project launched with the objective to integrate the blockchain tech into the energy sector. The project is also creating a decentralized energy exchange.

As of right now, electricity markets around the world are mostly overly centralized and monopolistic. Consumers generally shop exclusively with the large players, which limits the options available to them. The non-profit Energy Web platform intends to instead bring about a consumer-centric energy market, with the help of blockchain technology.

The Energy Web Chain uses a proof-of-authority (PoA) based consensus mechanism and utilizes a copy of the Ethereum Virtual Machine (EVM) for distributed computations. The block rewards and the various charges on the Energy Web Chain are paid in the Energy Web Token (EWT) – which is the platform’s native crypto token. 

The top exchanges for trading in Energy Web Token are nkr is a blockchain infrastructure marketplace for Web 3.0. The Ankr project allows consumers to make use of customized and user friendly nodes. Essentially, Ankr enables easy access to blockchain technologies and DeFi by eliminating the need for complicated setups or high technical knowledge. The native coin of the network is ANKR. 

Ankr allows easy deployability of the Polkadot coin validators, and collaborates with other Polkadtor projects building within the Polkadot ecosystem.

The top exchanges for trading in Ankr are currently Binance, Huobi Global, HBTC, CoinTiger, and Bidesk.

Polymath is a security token platform that has very recently moved from Ethereum to the Polkadot ecosystem. As of right now, both Polymath’s ST20 security token (ERC-1400) and native POLY token (ERC-20) are live within the Polkadot crypto network. Following the shift from Ethereum, Polymath is looking to further develop its token’s functionalities utilizing Polkadot’s unique benefits.

The top exchanges for trading in Polymath are currently Binance, Huobi Global, VCC Exchange, Upbit, and CoinBene.

According to the developers behind the SORA project, SORA is on its way to become the decentralized central bank for the world. Put simply, SORA is an economic system that decentralizes the notion of a centralized bank. The SORA network provides various tools for decentralized applications that use digital assets, like facilitating atomic token swaps, bridging tokens to other blockchains, and creating programmatic rules.

The top exchanges for trading in Sora are currently Hoo, Uniswap (V2), Bilaxy, Hotbit, and 1inch Exchange. 

Injective Protocol is one of the very first universal DeFi platforms for cross-chain decentralized derivatives trading. Market creation on the Injective platform is entirely open and permissionless, which enables any user to create a market using only a price feed and deploy it to the overall Injective ecosystem. With its unique layer-2 structure, the Injective protocol is also able to avoid high gas fees, as well as network congestion.

The top exchanges for trading in Injective Protocol are currently Binance, Huobi Global, VCC Exchange, ZT, and BiONE.

MANTRA DAO is a community governed DeFi platform that offers financial products such as staking and decentralized lending. MANTRA DAO makes use of the Rio Chain, a blockchain that is scalable, provides the maximum security, and connects to the Polkadot blockchain.

The top exchanges for trading in MANTRA DAO are try is a decentralized, cross-chain identity aggregator protocol that is intended to serve multiple networks. Litentry allows users to aggregate identities from other chains, and comes with an identity matching and identity staking mechanism.

The top exchanges for trading in Litentry are currently Binance, CoinBene, Gate.io, Uniswap (V2), and MXC.COM. 

Poolz Finance is a decentralized platform for conducting cross-chain IDOs (Initial Dex Offering). Poolz Finance allows users to create a pool for a new token where the investors get instant access to said tokens. The protocol aims to better connect project owners & early-stage investors.

The top exchanges for trading in Poolz Finance are currently Hoo, Gate.io, Uniswap (V2), Bilaxy, and 1inch Exchange.

Despite the fact that Polkadot is fairly new to the crypto scene, it’s already one of the best-performing altcoins out there. Back in August 2020, when the tokens first started trading, the prices were around $3 /coin. Since then, the prices have gone up to about $39 as of the beginning of March, 2021, which showcases a gain of around 983.8%.

Polkadot is already considered an alternative to Ethereum by many in the crypto community. Indeed, it’s undeniable that the new features Polkadot plans to implement in near future (like external audits for its parachains) prove it a suitable replacement for Ethereum. Whether Polkadot manages to dethrone Ethereum or not, that remains to be seen, but when it comes to the Polkadot coin price predictions, it’s very likely that the prices will continue to rise in 2021. Moreover, Polkadot price predictions also state that given that the hype surrounding Ethereum continues to grow, it could also help Polkadot prices go up, since the two cryptos are quite closely linked. 

In terms of market cap, Polkadot is already among the top ten highest valued cryptocurrencies across the globe, with a market cap of over $35 billion. At this point, it’s quite safe to say that the Polkadot coin has proven to be a much better investment than most of its contemporaries. And there you have it, a detailed look at the Polkadot ecosystem! We do hope this article has helped you understand the network a little better. For more posts on cryptocurrencies and trading advice, do give our blog a visit!

Do check out our other curated lists as well.

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Hitesh Malviya is the Founder of ItsBlockchain. He is one of the most early adopters of blockchain & cryptocurrency enthusiast in India. After being into space for a few years, he started IBC in 2016 to help other early adopters learn about the technology. Before IBC, Hitesh has founded 4 companies in the cyber security & IT space.

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Polkadot and Cardano are ground-up Proof-of-Stake (PoS) blockchain projects that seek to introduce the mass adoption of Proof-of-Stake before the Ethereum blockchain can completely shift from its operation from a Proof-of-Work (PoW) protocol to a PoS protocol.

While Cardano’s value proposition is in developing native smart contracts using the PoS protocol, Polkadot seeks blockchains, using their PoS blockchain to connect all other blockchains onto its network para- chains and thus becoming the living intermediary for blockchains and their tokens.

In many ways, Polkadot feels like a more alive and high-pressure ecosystem than Cardano, with higher risks for owning the inflationary Dot token (its native currency) and operating on its platform, and with greater involvement of elected moderators. Cardano offers fewer risks for both investors and stake-pool operators because of its deflationary tokenomics and less strict penalties, both of which will be discussed in this article. Still, it offers little involvement from the moderators.

Polkadot is in a more advanced stage of its development, but Cardano looks to catch up soon and may overtake Polkadot if certain conditions, which we will discuss, are met. For these reasons, Polkadot will be more rewarding for active participants currently, with a host of applications already operating on its protocol, but Cardano’s vision is grander. We will see how Polkadot and Cardano stack up against each other in every domain.

Ouroboros is the proof-of-stake consensus algorithm forming the backbone of the Cardano blockchain. Cardano’s native virtual currency ADA is referred to as “stake,” and instead of miners (as in Bitcoin), there are ADA “stakeholders” in the Cardano ledger.

Cardano’s PoS system uses a randomized process to elect a stakeholder to produce a block based on the weight of the stake recorded in the ledger. Not all stakeholders have the expertise to produce a block if elected, so stakeholders can pool their resources by delegating their stake to stake pools. The managers of these stake pools, known as stake pool operators, manage block production during slots where the Ouroboros algorithm elects stake delegated to them. These rewards are then automatically shared with the stakeholder.

In a DPoS system, stakeholders vote on who is responsible for producing blocks. This is different from Cardano PoS, where a stake is delegated to stake pools rather than used as a voting mechanism. The voting power of each person is weighted to the number of cryptocurrencies a person owns.

These block producers are responsible for grouping transactions into a block and broadcast them to the network. These block producers receive rewards for progressing the network. DPoS is designed so that block producers who fail to perform their duties can be voted out as delegates in elections. A DPoS system relies on a fixed amount of delegates to be voted on, meaning there is a set amount of parties allowed to progress the network. Cardano’s POS can have a much larger number of stake pools running, and thus Cardano furthers decentralization.

Delegated Proof of Stake networks weigh validators by stake, oftentimes allowing the highest-stake validators to take disproportionate control of the network’s consensus protocol. Delegated PoS networks also require users to specify the amount they want to stake with a given validator. In Delegated Proof of Stake networks, delegators are not subject to loss of stake based on the validator’s behavior.

Polkadot developed its PoS out of the Ouroboros protocol with some changes. With Polkadot’s Nominated Proof of Stake, nominators select up to 16 validators they trust, and the network will automatically distribute the stake among validators in an even manner. Polkadot uses tools ranging from election theory to game theory to discrete optimization to develop an efficient validator selection process that offers fair representation and security, thus avoiding uneven power and influence among validators.

Polkadot uses a Nominated Proof of Stake system where nominators back validators with their own stake as a show of faith in their good behavior. Nominated Proof of Stake differs from the more generic concept Delegated Proof of Stake in that nominators are subject to loss of stake if they nominate a bad validator.

Overall, Polkadot’s model places a large responsibility on holders to delegate the right validators or risk losing their money. At the same time, Cardano offers a more relaxed validation process where tokens can be delegated without locking them up or risk of loss.

Polkadot has a global focus aiming to be the Blockchain of blockchains, while Cardano currently targets Japan, Africa, and developing countries, trying to solve real-world problems there.

Polkadot’s network has a much smaller number of validators currently because it slashes malicious validators and stakeholders, meaning that anyone who placed a stake or delegated the bad validator would lose part of their stake. Therefore fewer people are willing to stake on validators. It makes expansion and decentralization more difficult for Polkadot as Dot token holders require more trust due to the high risk. Cardano has more stake pools (>1000) since there are no risks in delegating to a stake pool.

Since Polkadot requires more commitment from its users, naturally, many of those who choose to invest their time and money in it are actively involved in building dApps on top of the protocol. There is less involvement in Cardano from token holders and stake-pool validators because many are just happy to hold some Ada coins and watch it grow.

Polkadot has many teams leading different projects built on top of their blockchain, thanks to the Web3 foundation’s generous grants. On the other hand, Cardano is highly focused, with a smaller team supported by IOHK and looking to develop native functionalities rather than off-chain solutions. Polkadot already has a para-chain smart contracts solution, while Cardano will launch its own on March 1, 2021.

Polkadot places high-pressure to delegate tokens to not lose out to inflation, unlike Ada coin. It is for the more active investor.

Direct voting on Proposals is supported on Polkadot, but an elected Council of Governance can veto malicious proposals. There is also a technical committee that can also quickly submit technical proposals to solve network problems. The Council is elected, and the developers form a committee on the Polkadot platform. Thus it offers good backstops for recovering lost or stolen money. Cardano’s governance is in development. Project Catalyst, which has a Decentralised Autonomous Organisation (DAO) format, is in experimentation and will be refined over time.

Polkadot has a complete ecosystem with Edgeware, Ocean protocol, Acala network and is backed by Web3 foundation. It has an excellent testnet in Kusama. Cardano has project Marlowe Playground and a newly released Glow programming language for testing dApps. Their ITN failed as they didn’t get enough participation.

Both networks have great potential in integrating blockchains through their efficient and low transaction cost PoS algorithms. Polkadot may be ahead right now in the development curve, but Cardano looks to overtake it by introducing the ability to pay transaction fees in any token being transferred.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice

The cryptocurrency market has seen significant bullish momentum over the past week. With Bitcoin registering a new ATH on the charts, many altcoins including Polkadot have all started on their own uptrends.

In the last 7 days alone, DOT’s value has hiked by over 19 percent on the price charts. However, taking into account past precedents, DOT seemed likely to endure a price correction in the short-term.

At press time, Polkadot was trading at $25.2 with a market capitalization of over $22 billion. In the last 24-hours, the cryptocurrency surged by close to 7 percent, with a 24-hour trading volume of $4.2 billion.

Polkadot 1-day chart

According to Polkadot’s daily chart, after having witnessed a prolonged period of consolidation, the past week saw the crypto gain significantly on the charts. Since the start of the month, DOT has successfully breached its key level of resistance, turning it into a support level. At press time, the coin was trying once again to breach the resistance level at $26. If this attempt at going past the resistance level fails, then it is likely that DOT might see its price retrace towards its immediate support.

In such a scenario, a short position for traders may be beneficial. In the coming week, DOT may head towards a $19-valuation if this resistance level holds strong.

Rationale

The technical indicators, at press time, highlighted the strong presence of the buyers in the market.

The MACD underwent a bullish crossover on 4 February, but at press time, a reversal in which the Signal line can go past the MACD line seemed likely. The RSI was in the overbought zone, generally a bullish indicator. However, keeping in mind the coin’s previous price action, the RSI may plunge, as it did towards the end of January.

During that time too, the RSI had remained for a long period in the overbought zone, before seeing a strong trend reversal. If such a scenario repeats itself, DOT is likely to endure yet another price drop.

Important levels to watch out for

Resistance: $26.07

Support: $19.04, $15.91

Take Profit: $19.19

Stop Loss: $25.65

Risk/Reward: 3.77

Conclusion

Polkadot’s price has been on an uptrend for the past few days now. However, a trend reversal cannot be discounted and if the coin is unable to breach its immediate resistance, then a dip to the $19-price range can be expected in the coming week.

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Jude Gerald Lopez is a full time News Editor at AMBCrypto covering the US and Indian market. He is a post-graduate in English literature with around 4 years of teaching experience in Indian literature.

Polkadot Price Analysis: 19 February

Polkadot Price Analysis: 15 February

Polkadot Price Analysis: 01 February

Polkadot Price Analysis: 26 January

Polkadot Price Analysis: 21 January

Polkadot Price Analysis: 11 January

Polkadot (DOT), one of the largest cryptocurrencies in the market, has hit a new all-time high in recent hours. The virtual currency was able to reach a high of over $42 a few hours ago. However, it fell below $39 now that Bitcoin is traded close to $56,000 after reaching a new all-time high of around $57,600. 

The Polkadot ecosystem and community are getting excited about the parachain auctions. In this way, it will be possible for the Polkadot network to get connected to other blockchain networks. This is expected to increase interoperability among blockchains and help the crypto market to move forward. 

In order to increase interoperability, Polkadot uses a mechanism known as cross-chain message passing-lite. This helps different blockchains to share valuable information. The next step would be for the community and the team working on it to find issues within the code. 

As Polkadot has always promoted, they want to become a hub for crypto interoperability. This includes cross-chain data transfers and improving decentralization. With Parachains, it will be possible to help the market move in the right direction in terms of interoperability, communication and decentralization. 

The other two blockchain networks that have been discussed in recent days were both the Binance Smart Chain (BSC) and Ethereum (ETH). Etheruem expanded in the market as the platform to release dApps and decentralized finance (DeFi) solutions. 

Nevertheless, due to a large increase in gas fees on the Ethereum network and slow transaction times, it is becoming highly difficult to use the different solutions offered by this network. Instead, Binance Smart Chain became a more centralized alternative that is allowing users to enjoy BEP-2 trading and swapping through some DeFi projects such as PancakeSwap or Venus, among others. 

The main difference between these two networks is related to decentralization. Although Ethereum is slower and more expensive to use, it is more decentralized than the Binance Smart Chain (BSC). Thus, it is a thing to take into consideration when we handle funds in both of these networks. 

With the expansion of Polkadot, we can see more interoperability between blockchain networks. This could be also helpful to Ethereum and to increase decentralization in the market. Now, we need to wait and see how the new parachains will be implemented and released to the market. This could help DOT continue moving higher if the crypto market remains in a bullish mode. 

Polkadot asked, have you submitted your proposal for Polkadot Decoded 2021 yet? All eligible proposals received by February 28th, 2021 10pm CET go to community vote. You’ve still got a day to get yours in.

For those who are hearing of this for the first time, the Polkadot conference is for the community, by the community.  By submitting proposals to Polkadot Decoded 2021 users will be able to have their voice heard.

Polkadot is one of the most exciting emerging blockchain ecosystems in the industry, with a number of DeFi projects on the rise.

There is a comparison made of the potential Polkadot parachains and their Ethereum counterparts in terms of stable coins, credit markets, Decentralized Exchanges (AMMs), Oracles, Synthetic Assets, Asset Management, and smart contract execution – just to show they are at par perhaps!

There are several solid projects on Polkadot like Reef, Phala, Acala, and others.  Different DOT projects fit in different use cases for the blockchain.

One of the users commented stating Decentralized Identity: Civic on Ethereum and Litentry on Polkadot. Yet another user pointed to how ChainLink is an oracle for $DOT as well. With several users putting such statements, it just looks like investors from all blockchains will be convinced to buy DOT.

Talking about DeFi, it has been stated that in the midst of many Polkadot DeFi projects, Equilibrium DeFi has been the first to introduce their PLO mechanics, which is worth when acquiring the parachain slot.

With the Polkadot mission becoming a reality, users feel that it will not be required to log in to different blockchains separately anymore.  Borrowing, lending, staking, and trading with various crypto assets are available in one place.

The Rio DeFi project is set to utilize Polkadot technology which users think will take the DeFi space to the next level. A key part of the RioDeFi ecosystem is interoperability, which is made possible to Polkadot’s cross-chain compatibility.

It is very obvious that Polkadot is able to provide for every kind of project that is possible in the blockchain technology.

The concept of ”common goods” has been discussed by political and economic philosophers for centuries. On Polkadot, via public referenda, network stakeholders can decide to register a parachain outside of the auction process.  The common good parachain is a great introduction to governance allocated parachain slots.

Polkadot was designed in a way that it will be possible to optimize the business logic to suit specific use cases to interact with each other in a secure and meaningful way.

Even as the major cryptocurrencies start the week on a bearish footing, one considerable digital currency to keep an eye out for at the moment is Polkadot. The potential Ethereum killer looks to be on the brink of a breakout to the upside, with the price likely to touch up to $50 soon, but before that, we’ll have to wait and watch if the price can break out above the $40 level first.

At the time of writing, DOT/USD is trading close to this key resistance level, at around $35, but seems to be exhibiting some amount of bearish since earlier today. However, even if the near-term trend reverses and the price moves higher, taking out the $40 level could possibly drive more selling pressure and send the price crashing lower too. In such a scenario, if Polkadot sellers take control and send prices down, the next key level to focus on would be $25.

Polkadot can also trade bullish in case the sentiment in the overall crypto market turns upbeat and sends the larger cryptocurrencies like Bitcoin and Ethereum higher. The movements in the bigger digital currencies sometimes dictate trends in the smaller cryptocurrencies as well, as they indicate interest levels among traders towards the crypto market overall.

For now, Polkadot continues to hold on to its ranking on CoinMarketCap as the fifth most popular cryptocurrency with a market cap above $33.5 billion. Later this week, however, it could see considerable movement when Polkadot releases almost 20 million staked DOT tokens on March 19. The higher availability of DOT could potentially drive its price lower, unless demand keeps up and rises in keeping with the increased supply.

A smart trigger is effectively a smart contract that is deployed into the PARSIQ ecosystem. It allows triggers from external chains to be passed to off-chain systems. It collects data across a variety of chains in real time and then constructs an indexed composition of actions in any one chain, in a process of reverse engineering. It can validate and process a huge amount of real-time data simultaneously via its distributed data management layer by utilizing chain-specific feature extraction.

PARSIQ shares the same ideology as Polkadot, which is to bridge data across a huge network of chains, leaving all chains completely equal to one another, where each chain has its own personal real-world uses and strengths. This is a model that builds strength from numbers and enhances usability by combining the entire group of chains into one strong network.

PARSIQ, rather than being a chain itself, is the bridge between the chains and between off-chain applications too. Developers can build their own smart triggers using PARSIQ. These smart triggers react to events –  plus they are able to store and alter data, and also learn from the data as they grow.

The platform, in addition to monitoring data and creating alerts, can be used to deploy bots, as well as for areas like monitoring AML, performing automated accounting and more. Each developer’s data stream is completely unique, with its own branding retained as well as its pricing structure, even while it is growing and learning from the entire network.

PARSIQ is now integrated across all of the major blockchains including Bitcoin, Ethereum, Binance Smart Chain, Solana, Celo, Dash and Algorand, to give users a way to simplify the automation of all their processes and applications off-chain, on-chain and even across layer-2 chains.

PARSIQ’s smart triggers have far-reaching functionality, including transaction monitoring, simple asset withdrawal from one user to others, the ability for transfers exceeding a pre-set level and much more. Developers can use the PARSIQ platform to build their own smart triggers for data workflow automation, storage and learning here.

Examples of workflows include

Created by one of Ethereum’s founders, Gavin Wood, Polkadot’s goal is to take blockchains to a state closer to Web3, where all on-chain activity is shared across a variety of chains. It is an intersection capable of translating architecture into one heterogeneous language for customizing side chains to connect with public blockchains.

Tom Tirman, CEO of PARSIQ

Coinbase, the US-based cryptocurrency exchange, announced on Monday support for Polkadot (DOT) within its Coinbase Pro offering. Although transferring DOT into Pro accounts is now possible, trading will be enabled after 4pm GMT on June 16 only if liquidity conditions are met, the company clarified.

According to the firm, once enough DOT supply is set on the exchange’s platform, trading on DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP and DOT-USDT order books will be deployed in three phases known as post-only, limit-only and then full trading. “If at any point one of the new order books does not meet our assessment for a healthy and orderly market, we may keep the book in one state for a longer period of time or suspend trading as per our Trading Rules,” Coinbase noted.

Polkadot (DOT) is not available on Coinbase’s website or mobile apps, although the exchange stated such plans would be announced when the support is enabled outside Coinbase Pro. Support for DOT will be available for most supported countries in the publicly-listed crypto exchange, but the firm highlighted it would not be allowed for Singapore.

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Also, the exchange said on the official announcement that it would keep customers informed through Coinbase Pro’s Twitter official account when each phase mentioned has been passed in terms of order books for DOT.

The company has been adding cryptos to its platform actively, such as Gitcoin (GTC), Enzyme Token (MLN), Amp (AMP), Dogecoin (DOGE), Internet Computer (ICP), Cartesi (CTSI), iExec (RLC), Mirror Protocol (MIR) and Tellor (TRB), among others. In fact, Finance Magnates reported in April that Coinbase announced support for stablecoin Tether (USDT), whose trading in Coinbase Pro started on April 26.

When the US-based crypto exchange announced support for DOGE in Coinbase Pro early in June, the meme coin skyrocketed around 15%. Order books for Dogecoin available are DOGE-USD, DOGE-BTC, DOGE-EUR, DOGE-GBP and DOGE-USDT.

By now, investors will have a relatively good understanding about the biggest cryptocurrencies in the market, however, the more niche coins such as cardano, litecoin and polkadot to name just a few are now also being wrapped into exchange-traded product (ETP) format.

With bitcoin, ethereum and others setting fresh all-time highs through the first half of 2021, many investors have started looking to the more dimly lit corners of the crypto universe, to the coins whose day in the sun is potentially yet to come.

Happy to service this demand, ETP issuers have taken to launching products targeting increasingly innovative, early-days – and frankly, niche – digital assets, to offer the reassurance of on-exchange trading to those looking to speculate on ‘the next big thing’.

Cardano ADA

The largest of the coins on our list is ADA, from the cardano platform, which has a market cap of $42.5bn.

The cardano infrastructure relies on Ouboros, currently considered the world’s largest proof-of-stake (PoS) protocol. The advantage of this framework is its much lower energy consumption versus the proof-of-work (PoW) protocols currently used by most cryptos. In fact, the Ethereum Foundation has announced it plans to shift its native currency onto PoS.

Cardano allows developers to construct decentralised applications and conduct peer-to-peer transactions via its native token, ADA.

Now the world’s fourth-largest crypto infrastructure, cardano has a settlement layer, similar to bitcoin, and a computation layer, similar to ethereum.

At present, the 21Shares Cardano ADA ETP (AADA) and the Valour Cardano SEK ETP offer investors access to the coin within an exchange-traded wrapper.

Ripple XRP

Starting life as opencoin before transforming into ripple, the platform has its own token, XRP, which is designed to allow financial institutions to transfer money with minimal wait times and fees.  

By 2018, over 100 banks were using ripple’s xcurrent messaging technology but avoided XRP due to concerns around volatility.  

Based on a common shared ledger, the platform relies on a network of independent servers that compare transaction records. Ripple can support a range of tokens representing fiat currencies, cryptocurrencies, commodities and other units of value such as frequent flier miles and mobile minutes.

A sticking point for the platform was the lawsuit brought against it by the Securities and Exchange Commission, with the regulator stating XRP had been illegally marketed to retail investors without making clear the risks involved in trading the asset.

This update saw 21Shares remove XRP from its mixed-basket HODL ETP but investors can still gain exposure via the 21Shares Ripple XRP ETP (AXRP) and the CoinShares Physical XRP (XRPL). At present, Ripple has a market cap of $31.8bn but in 2017, was briefly the world’s second-largest crypto.

Polkadot DOT

Moving down the list in terms of market cap, the $14.9bn polkadot platform was created by ethereum co-founder, Gavin Wood. 

Designed as a sharded heterogenous multi-chain architecture, polkadot allows external networks and customised layer one ‘parachains’ to communicate, creating a connected internet of blockchains.

Wood developed the polkadot protocol while mulling the sharding hurdles that might be faced in the ethereum 2.0 specification. By embedding sharding, the platform breaks the blockchain network down into separate entities to reduce latency – allowing it to scale and process more transactions per second.

Currently, exchange-traded exposure to the protocol is offered by two products from Swiss issuers, the 21Shares Polkadot ETP (ADOT) and the Valour Polkadot SEK ETP.

Litecoin LTC

Beginning as an early bitcoin spin-off in 2011, litecoin is a peer-to-peer digital asset released via an open-source client on GitHub, with a market cap of $9.7bn. 

Though bearing many similarities to bitcoin in its technical makeup, litecoin differentiates from the mega -ap coin in its lower block generation time (two-and-a-half minutes versus ten minutes), a higher maximum number of coins, and different hashing algorithms and user interface. 

The coin also uses scrypt in its PoW algorithm, which is a sequential memory-hard function that requires more memory than non-memory-hard equivalents. As a consequence, the devices used for Litecoin mining are more complex and expensive than those used for bitcoin prospecting.

The CoinShares Physical Litecoin (LITE) and ETC Group Litecoin ETC (ELTC) currently track the performance of the asset.

Solana SOL

With only a marginally smaller market cap of $9.1bn, solana is a third-generation PoS blockchain that creates a trustless system for determining transaction time called Proof of History (PoH).

Versus a PoW protocol, a PoH orders transactions in a series of hashes, allowing validators to process and transmit less information in each block, in turn reducing the time it takes to confirm a new block. 

Solana also uses other capabilities – Tower BFT, Turbine, Gulf Stream, Sealevel, Pipelining, Cloudbreak, Archivers – to create a network with a 400 millisecond block time, versus 10 minutes per block for bitcoin and 15 seconds per block for ethereum.

Earlier this week, the first ETP targeting solana, the Solana (SOL) ETP (ASOL), was launched by 21Shares.

Stellar XLM

Finally, we have stellar, an open-source, decentralised protocol for digital currency to fiat currency transfers with a market cap of $6.3bn.

Founded by ripple co-founder, Jed McCaleb, the platform uses the SCP protocol created by Stanford professor David  Mazières.

Since 2014, stellar and its native token XLM/lumens have been backed by $3m in seed funding from Stripe. The platform was then integrated into South African messaging platform, Vumi, and Nigerian microfinance facilitator, Oradian, in 2015.

A year later, the crypto integrated with Deloitte to create cross-border payments application, Deloitte Digital Bank. And since, stellar has partnered with the ICICI Bank in India, African mobile payments firm Flutterwave, French remittances company Tempo Money Transfer, IBM and the Ministry of Digital Transformation of Ukraine.

At present, investors can gain exposure to the digital asset via the 21Shares Stellar ETP (AXLM).

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DOT, Polkadot’s native token on its multi-chain network that connects different blockchains into a single network, can now be purchased using credit and debit cards. This milestone comes on the back of a new partnership with crypto payment gateway, Simplex.

Simplex provides fiat on-ramp infrastructure for several cryptocurrency exchanges, brokers, and wallets. The agreement will allow DOT holders to conduct and settle crypto transactions, a grey area of business where a gauntlet of KYC requirements and other regulations kick in.

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Polkadot’s userbase will benefit from Simplex’s fiat credit and debit purchase options and the support will prepare DOT holders for the upcoming launch of its new enterprise-grade blockchain solution.

The excitement around the Polkadot’s token was apparent in the crypto sphere over the last few months. Polkadot price hit an all-time peak earlier in February ahead of its upcoming auctions which will allow its network to connect with other established blockchains.

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Unlike networks like Bitcoin and Ethereum, which operates on its own, Polkadot aims to act as a framework for all blockchains that opt-in.

“Simplex supports hundreds of fiat currencies and enables the purchase of over 50 cryptocurrencies through its network of partners. Adding Polkadot (DOT) to the list of supported assets brings the world one step closer to mass cryptocurrency acquisition and adoption,” the company said.

Simplex often charges 3.5 percent of a transaction, with a $10 minimum purchase amount. Moreover, the company applies various restrictions, including a $20,000 maximum for daily transactions when using a credit or debit card, as well as a $50,000 maximum monthly limit.

Israeli-based Simplex combines crypto payment processing with fraud prevention technology and also provides a KYC opt-out feature for purchases of less than $150. This amount is calculated for the entire lifetime of the user. Further, the startup enables merchants to accept diverse payment methods, including credit card deposits and purchases, with zero exposure to chargeback risk.

Simplex has already signed partnerships with leading crypto exchanges, including Binance and Huobi, among others, to enable users to buy cryptocurrencies with their credit cards.

Polkadot (DOT) is one of the most advanced crypto and blockchain networks in the industry. It is considered to be a next-generation blockchain protocol that aims at giving control back to individuals. The project is funded by the Web3 Foundation and it has hundreds of developers working on different solutions.

Web3 is the definition given to the next generation internet with a focus on decentralization and data privacy. This network is powered by decentralized applications (dApps) and it takes the power from traditional centralized services providers. 

There are several blockchain networks that are creating decentralized ecosystems using blockchain technology. These protocols focus on users, their privacy and data. Despite the fact that there is almost no data collection the monetization of Web3 could take place in a different and more transparent way. 

Web3 is important because it helps users take control of the systems in a decentralized way. Moreover, Polkadot is helping make it easier for dApps developers to be connected with each other and offer better services to individuals and institutions. 

Since the start of this year, the price($) of the DOT token gained more than 350% and the numbers are counting. Therefore, some good reasons for you as an investor to consider when buying some Polkadot cryptocurrency.

Polkadot focuses on blockchain and dApp interoperability. This is definitely one of the main characteristics of this blockchain network. While blockchain networks struggle to communicate one with another, Polkadot makes it easier for them to share data and information. 

This cross-chain communication becomes a core part of the Polkadot ecosystem as a whole. Moreover, companies and dApps creators can focus on their products rather than trying to make them compatible with other networks. 

Interoperability has been one of the main challenges faced by traditional blockchain networks in recent years. With Polkadot, cross-chain communication could become easier and faster than before. 

One of the main issues faced by blockchain technology is scalability. It is known that some networks such as Ethereum (ETH) or Bitcoin (BTC) have faced scaling issues in recent years. 

Polkadot is a sharded and multichain network that can process a high number of transactions for low fees and without having issues doing so. Transactions can take place on parallel blockchains and bottlenecks are then avoided. 

By offering this solution, Polkadot becomes a blockchain network that could handle a large number of transactions in an efficient way and in a decentralized manner. In order to do so, Polkadot uses parachains that run in parallel to the main Polkadot network. In this way, transfers can be processed and information can be shared. 

Polkadot works on the Substrate development framework. That means that it is possible to push innovation further. Customizing and developing blockchain networks could be a very difficult task in the past. But with the Substrate development framework, it becomes much easier and efficient. 

Substrate makes building blockchain networks faster and easier. This includes making the networks safe and focusing on cross-language support. Developers can work in C/C++. C#, Typescript and Rust. 

Moreover, the Substrate framework allows developers to integrate existing data or business logic into blockchain solutions. This makes it easier for participants to get access to the benefits of distributed ledger technology. 

Network upgrades and improvements are necessary. This is something most of the blockchain and crypto companies already know. However, traditional blockchain networks struggle to upgrade their services and solutions. 

Bitcoin and Ethereum, for example, have experienced community-breaking hard forks. This happened in 2017 with Bitcoin and Bitcoin Cash. Meanwhile, the Bitcoin Cash community experienced another hard fork in late 2018. At that time, Bitcoin Cash’s community forked BCH and created Bitcoin SV (BSV).

This shows it is difficult to have a network that would operate and improve its protocol without hard forks. Until now. Polkadot allows for seamless and forkless upgrades. In this way, it is possible to fix bugs, improve different characteristics of the network and offer better solutions to users. 

By using the Substrate framework, it is possible to get interoperability and security. This can be achieved from the first day a developer starts working within this environment. This is one of the main features of Polkadot. 

Developers can use Polkadot’s data availability and validity schemes that allow the different chains to interact with each other. However, each chain remains independent and follows its own rules and governance. 

This offers custom security to each of the blockchains without having to become less independent. Governance remains decentralized and intact while security becomes enhanced. 

By using a novel governance system, Polkadot allows all the participants in the network to be part of the decisions. Before any upgrade takes place, stakeholders work together in order to discuss possible improvements and other solutions. 

Additionally, the upgrades to the network are coordinated and also performed autonomously. That means that the entire ecosystem is represented in the decisions that help the entire ecosystem grow and expand. 

While other blockchain networks are certainly centralized, Polkadot stakeholders play a key role in making the network a better place for developers and participants. 

Polkadot is also a blockchain network that allows interested users to stake their DOT coins and earn rewards on them. By using traditional incentive systems, token holders are pushed to operate in an honest way. In this way, the network can smoothly run avoiding issues and problems. 

Those users that work properly will earn rewards depending on their stake. In this way, DOT allows holders to earn passive income on their funds. Staking activities can be performed through a wide range of platforms, including exchanges. 

Actors that operate maliciously will lose their stake in the network. This is a great way for developers found to punish those that do not work to improve and secure the network. 

Polkadot is one of the most innovative projects in the crypto market. The solutions they are currently providing are certainly allowing the entire crypto market to grow faster and in a much more sophisticated way. 

Moreover, Polkadot is allowing users to have an active voice in the network. Decentralization is definitely a key part of this blockchain network and users know about it. Users know about it and can easily start participating in the network through staking and other activities. 

Polkadot represents a novel way in which blockchain networks can cooperate with each other. Finally, it also shows it is possible to offer blockchain solutions that are scalable, easy to improve and implement and that can be adapted to different protocols. 

PARSIQ has just launched on one of Web3’s preeminent networks. 

The Polkadot Relay Chain has integrated PARSIQ’s “smart triggers,” meaning users will be able to receive transaction alerts via the platform. 

“Smart triggers” are PARSIQ-native contracts that collect data from across different blockchains and relay that data off-chain. In other words, they relay Web3 activity to Web2 applications. That could mean sending transaction alerts to users, bridging events, monitoring data flow, sending price alerts, and more.

For example, a Polkadot trader may use PARSIQ to receive an alert when an arbitrage opportunity arises due to an asset falling in price, or they may get notified when their Polkadot wallet receives a DOT payment. PARSIQ can also be used to deploy bots. 

Like Polkadot, PARSIQ bridges data across a network of chains, which each has its own uses. Polkadot has become one of the dominant Web3 platforms partly on the promise of its “parachain” architecture. Aside from the Polkadot Relay Chain, parachains like Acala Network and Moonbeam form part of the ecosystem. 

PARSIQ is also integrated into Bitcoin, Ethereum, Binance Smart Chain, Solana, Celo, DASH, and Algorand.

Its latest update brings Polkadot one step closer to its vision for Web3, where value can be exchanged freely between parties on an Internet-based network. Ethereum is Polkadot’s biggest rival in the race to build the foundations for Web3 and shares some similarities, except its plans to use shard chains and Layer 2 solutions rather than parachains.

But if both platforms continue to grow, the future of Web3 could indeed be multi-chain. 

Disclosure: At the time of writing, the author of this feature owned ETH, FLI, and several other cryptocurrencies. PRQ, PARSIQ’s native token, was SIMETRI’s January Pick of the Month (PoM). This article was written independently of this. 

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Parity would work closely with Berkeley’s blockchain community on education and proficiency in blockchain and Substrate.

Today, the University of California, Berkeley ‘Blockchain Xcelerator,’ and Parity Technologies announced a collaboration in the development of the University’s blockchain curriculum, they said in a release to CryptoSlate.

One of the top schools in the US, UC Berkeley is known for its computer science, social science, and engineering majors. Parity, on the other hand, is one of the main developers and code maintainers of the high-speed blockchain networks Polkadot and Kusama, apart from their work on several Ethereum-related tools.

The move sees the inclusion of Parity’s Substrate blockchain-building framework as an educational tool, and to work together to raise the overall awareness of next-generation blockchain technologies in order to promote adoption among students and the community at UC Berkeley.

Parity Technologies will work closely with the Berkeley Blockchain Xcelerator, advising students and entrepreneurs with the goal of launching high-value blockchain startups in general and in the Polkadot and Web 3.0 ecosystem.

For the 2020-21 academic year, Parity’s developer education team will engage with faculty, students, and the community studying blockchain technologies in their coursework. This includes involvement in curriculum preparation, project ideas, and resources to enrich the educational experience. 

Jocelyn Weber, director at the UC Berkeley Sutardja Center for Entrepreneurship & Technology X-Labs in Berkeley Engineering and at the Berkeley Blockchain Xcelerator, said in a statement:

“Our work with Parity and other Polkadot ecosystem startups has demonstrated  the potential of this technology in educating our community.”

Weber added the team strives to expose their students to the tools and skills they would need to enter the blockchain space and immediately start making significant contributions.” 

The Berkeley Blockchain Xcelerator launched in January 2019 to support the creation of high-value blockchain startups from around the world and to become a leading source of blockchain educational programming on the UC Berkeley campus. 

Since its launch, the Xcelerator has accelerated 45 blockchain companies, including most recently Acala which has received $7 million series A funding to provide a DeFi ecosystem on Polkadot and Stake Technologies which provides smart contract capabilities on Polkadot. Partnering with Blockchain at Berkeley, the Xcelerator is also delivering educational programming on next-generation protocols such as Polkadot.  

Meanwhile, UC Berkeley’s students have a lot to look forward to. As a part of Berkeley’s blockchain coursework, Ethereum, Parity Technologies, and Polkadot co-founder Dr. Gavin Wood would be giving a lecture in March of 2021. You wouldn’t wanna bunk that class.

The most popular smart contract platform in the world is working diligently to solve its issues with scaling and user interface.

Polkadot emerged as one of the biggest “Ethereum killers” this year, with its high throughput, low-fee network, and the demand for such features booming as the DeFi sector surged in 2020.

Ethereum co-founder Vitalik Buterin believes the protocol might play an important role in the future of state-backed digital currencies.

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Polkadot has been rapidly growing from a niche blockchain project to one of the richest DeFi networks that have real potential to compete with Ethereum.

Polkadot is one of the most highly anticipated blockchain networks, forming a scalable ecosystem set to rival, or rather complement, the most established dApp platform, Ethereum.

Separate instances this morning saw a billionaire embrace the crypto sector and a regulator move away from it.

Enjin via an official blog post disclosed that Efinity is designed on the Polkadot network. Apart from acting as a cross-chain NFT highway, it will focus on offering better scalability for users in the booming NFT space.

We are grateful to have the support of an incredible group of partners who believe in our vision for #NFTs!

More: https://t.co/sPa4Q0UqFH pic.twitter.com/V4xphNkiXV

— Enjin (@enjin) March 31, 2021

According to the announcement, Enjin, with the help of the leading Crypto exchange platform Crypto.com, DFG Group and Hashed raised $18.9 million through a private token sale to build the new Blockchain network. With support from Hypersphere, BlockTower, Blockchain.com Ventures, Iconium, DeFi Alliance, among others.

Notably, Efinity has been described as a next-generation blockchain for NFTs. It will be built by Parity Technologies for Polkadot. Furthermore, once launched it will allow NFTs to be used by nearly any enterprise.

Speaking on building Efinity, Maxim Blagov, Enjin CEO in a statement stated that the initiative would hasten the adoption and growth of a global digital asset economy.

Moreover, he explained that Efinity is the end result of a technological and ideological evolution that crystallized over the years, ever since Enjin started developing NFTs in 2017.

According to him, “Efinity, is a next-gen blockchain, as well as an idea, a movement, a vision of a future where digital worlds are free, decentralized, open, and accessible to everyone, everywhere.”

In the statement, the Blockchain development firm revealed why it chose Polkadot instead of Ethereum to build Efinity. According to Enjin, “Polkadot is different.”

Furthermore, it stated that every piece of the Polkadot parachain is completely customizable, which makes it a perfect platform for building scalable, custom blockchains. However, the launch of  Ethereum 2.0 will only enable faster transactions.

Enjin further pointed out that Polkadot is not built to replace Ethereum. Exactly, like that  Efinity is built to complement not only Ethereum NFTs but NFTs from any blockchain.

Caleb Applegate, Enjin COO stated that building the new Blockchain on Polkadot will enable Enjin to provide an accessible, scalable solution that empowers users to partake in the emerging NFT economy.

“NFTs should be for everyone. With the end-user in mind, Efinity will provide a fun, simple, and accessible experience for all,” he said.

Enjin stated that when launched, Efinity blockchain will also have its own native token called Efinity Token (EFI). As well as the launch will unveil a new staking feature for the Enjin Coin token.

Enjin Coin holders will be able to stake their ENJ into nodes and earn interest in the form of EFI.

Notably, the EFI will be the first-ever para token and will be compatible with the entire Polkadot and Kusama ecosystem. According to Enjin, it will be used to facilitate transaction fees, vote in governance events. Additionally, will help maintain the liquidity of fungible and non-fungible tokens on the network.

According to Coingecko, Enjin Coin (ENJ) is currently the 50th-largest cryptocurrency by market cap. Moreover, at press time, the token was trading at $2.49.

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