Founded by the Web3 Foundation, Polkadot is a futuristic open-source blockchain ecosystem that connects multiple blockchains under one common blockchain network. Polkadot has been specifically designed to provide a more robust user experience, scalability, security, and deliver control in the hands of the users.
DOT is the official token of the network. DOT token holders have governance over the network and can earn rewards for staking. DOT also offers a proof-of-stake consensus mechanism where the tokens can be used for bonding different parachains as well as remove them by removing bonded DOT tokens.
Polkadot Features:
Scalability: Polkadot consists of sharded multiple blockchains, also known as “parachains” that allow them to process several transactions along with several multichain networks thus eliminates the limitations of traditional legacy networks where only one transaction could be processed at a time. Multiple blockchains mean more transactions and invariably more scalability on the network that will eventually lead to economic growth within the network chains.
Interoperability: Polkadot is a cross-blockchain network and allows multiple blockchains to communicate and operate with each other thus share innovative services and information providing interoperability along with the network.
Substrate Application Framework: Polkadot is built on the Substrate Framework application. It helps Polkadot to develop and implement the latest technologies on the network, create cryptocurrencies, and even build new blockchains. Other blockchain networks can connect to Polkadot and enjoy more security and interoperability on the network.
Security: Polkadot is a highly secure network where different chains can interact with each other but enjoy separate governance and security over the network.
Best Polkadot (DOT) Wallets
Ledger Wallet
Ledger is a hardware wallet and is undoubtedly the world’s most popular crypto hardware wallets available so far. Ledger stores all your private keys offline securely in the device. So, it is needless to say that Ledger is by far one of the safest wallets compared to mobile and other web wallets. You can download the Ledger Live and buy, sell, and exchange more than 1500 cryptocurrencies in one common platform. The device comes with safe packaging and USB cable and adapters that can be easily connected to an Android or iOS phone or a laptop or desktop with a USB port. There are two different versions of the Ledger wallet – Ledger Nano S which is available at INR 5418.39 and Ledger Nano X which is priced at INR 10,928.62. Get Ledger Wallet At Best Price
Read: 20+ Crypto Hardware Wallet List
Guarda Wallet
Guarda Wallet is a multi-cryptocurrency crypto wallet available on Web, Desktop, Chrome Extension, and Mobile platforms. With more than 50 blockchains on board, 10k+ tokens, Guarda is one of the most prominent crypto wallets. With Guarda, you can also buy, exchange, stake, borrow assets, and even issue your own tokens and much more.
Thanks to integrations with promising projects, Guarda Wallet also supports human-readable addresses like UD, FIO; the multi-signature functionality for BTC and ETH. With Guarda, you can easily store, send, receive and exchange DOT.
Polkawallet
Polkawallet is the official mobile wallet of the Polkadot ecosystem. Polkawallet can be downloaded safely into your Android and iOS phones from Apple and Google Play Store. Polkawallet is both a hot and cold wallet. As a hot wallet, it is connected to the internet but does not store your private keys. You can also use it as an offline cold wallet where you can sign in through a QR code scan. You can view your assets, transaction history, and receive and send tokens by scanning QR codes. There is a feature called “social recovery” where you can integrate your account with social relationships like a family member or a friend and use it to recover the wallet if it is lost or you have forgotten your account.
Trust Wallet
Trust wallet is a mobile wallet that can be easily downloaded into your iOS and Android phones and is one of the most trusted crypto wallets used worldwide. The wallet is secure and does not have access to your personal data. Buy cryptos instantly with your Mastercard or Visa credit card. The wallet takes only a few minutes to create and gives you access to various decentralized applications as well.
Mathwallet
Mathwallet is both a mobile and a web wallet. You can download it safely to your Android and Apple iPhones as well as connect it to a chrome extension and use it as a web wallet. Math is a multi-chain wallet that supports more than 65 public blockchains. The multicurrency wallet can store a wide variety of cryptocurrencies including Bitcoin, Polkadot, Ethereum, ERC20, Cosmos, etc. The wallet also allows you to stake MATH tokens and earn rewards. There is also a host of dApps available in the wallet for users. Apart from that, the “Math News” tab allows you to get the latest updates and news in the crypto community.
Atomic Wallet
Atomic is a secure, anonymous, multi cryptocurrency wallet and supports over 500 cryptocurrencies worldwide including Bitcoin, Ethereum, Litecoin, XRP, EOS, Ripple, Dogecoin, Stellar, Bitcoin Cash, etc. The wallet is completely decentralized and allows atomic swap in more than 60 cryptocurrency pairs plus 1% cashback on the easy swaps. You can buy cryptocurrencies with credit cards as well as with your local currency, USD, and EUR. The wallet is secure and all your private keys are stored in the device. There is no KYC verification needed for the basic features and you get 24/7 help support from the Atomic team. The wallet has a secure interface where you can buy, sell, transact, and stake cryptocurrencies and earn rewards as well.
