What is DOT coin? What can DOT coins do? How to store DOT coins?

As a governance token, DOT coins allow holders to influence the direction of Polkadot's development, participate in staking, and cover transaction fees on the network.

Oct 07, 2024 at 06:35 am

1. What is DOT Coin?

Polkadot (DOT) is a blockchain platform designed to connect different blockchains and enable interoperability between them. It uses a unique "sharding" technology to improve scalability, allowing multiple transactions to be processed simultaneously on separate chains.

2. What Can DOT Coins Do?

DOT coins have the following functions:

Governance: DOT holders can participate in the governance of the Polkadot network by voting on important decisions and proposals.
Staking: DOT coins can be staked to earn rewards, providing security to the network.
Transaction Fees: DOT is used as the gas fee for transactions on the Polkadot network.
Bonding: DOT coins are locked up to secure parachains, which are independent blockchains connected to Polkadot.

3. How to Store DOT Coins

DOT coins can be stored in a variety of wallets, including:

Hardware wallets: Ledger Nano X and Trezor T
Software wallets: Polkadot.js Wallet, Trust Wallet, and MetaMask
Exchange wallets: Binance, Coinbase, and Kraken

4. Additional Details on DOT Coins

Symbol: DOT
Max Supply: 1 billion DOT
Circulating Supply: Approximately 906 million DOT
Launched: May 2020

Disclaimer:info@kdj.com

The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research！

If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.

Fear & Greed Index

Trade Now

Biggest Gainers

BIO

$0.08789

51.64%

Trade Now
RYU

$0.0...01464

50.54%

Trade Now
EVA

$8.3

30.47%

Trade Now
OMNI

$4.9

28.46%

Trade Now
USELESS

$0.2263

21.62%

Trade Now
PEP

$0.0007358

21.32%

Trade Now

Latest Crypto News

WiMi, Quantum Computing, and AR Tech: Navigating the Future Today
2025-08-07 22:30:12
BitcoinFi: From Building Blocks to Usable Products – Staking, Lending, and Beyond
2025-08-07 22:30:12
Dogecoin, Crypto, and the 25x Gains Dream: What's Next?
2025-08-07 20:50:12
Dogecoin: A Second Chance for the OG Meme Coin?
2025-08-07 20:50:12
BlockchainFX: Your Choice for Long-Term Crypto Gains?
2025-08-07 21:10:12
Pepe Dollar's Presale Mania: Memecoin Staking and the Crypto Revolution
2025-08-07 21:10:12

Related knowledge

What is Ethereum’s Slashing mechanism and how to punish malicious behavior?

Feb 20,2025 at 03:08am

Key PointsOverview of slashingDifferent types of slashing in EthereumIncentives and consequences of slashingIdentifying and reporting slashed validato...

What is the verifier node of Ethereum and how to become a verifier?

Feb 19,2025 at 06:00pm

The Verifier Node of Ethereum: A Comprehensive GuideKey Points:What is a Verifier Node?How to Become a Verifier NodeResponsibilities and Rewards of a ...

What is Ethereum’s staking, and how to participate and earn money?

Feb 19,2025 at 04:37pm

Key Points:Understanding Ethereum's Staking MechanismSteps to Participate in StakingBenefits and Rewards of StakingSecurity and Risk ConsiderationsTec...

What is Ethereum’s DAO (Decentralized Autonomous Organization) and how does it work?

Feb 20,2025 at 03:12am

Key PointsDefinition and Structure of a DAOGovernance and Decision-Making in DAOsBenefits and Use Cases of DAOsChallenges and Limitations of DAOsWhat ...

What is Ethereum's multi-signature wallet and how to improve security?

Feb 20,2025 at 02:18pm

Key Points:Understanding the Concept of a Multi-Signature WalletBenefits and Drawbacks of Multisig WalletsRequirements for Setting Up a Multisig Walle...

What is Ethereum's oracle and how to provide data for smart contracts?

Feb 21,2025 at 01:30am

Key Points:Understanding the concept of oracles in EthereumExploring different types of oraclesDetailed guide on how to provide data for smart contrac...