What is Polkadot (DOT) and How Does it Work?

Polkadot is a blockchain protocol that aims to enable interoperability between different blockchain networks. It allows different blockchains, each with unique features and uses cases, to share data and assets in a secure and decentralized manner. Polkadot uses a unique multi-chain architecture consisting of two chains: relay chains and parachains. The relay chain is the network's central hub, responsible for maintaining the overall security and consensus of the network. Parachains are independent chains connected to the relay chain and can…