April 3, 2024

Interest in Polkadot (CCC:DOT-USD) should begin with a 10,000 foot view. It is that sort of understanding which makes it interesting to watch. Its broad utility fundamentally separates it from get-rich-quick scam coins. 

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Let’s get into the broader ideas behind Polkadot which are very much worth understanding. 

Utility

When trying to understand any cryptocurrency, it’s worthwhile to simply consider utility. What a token does or how a crypto project will be applied matters. Remember, these are nascent technologies. 

We understand what the internet is today. But prior to its inception, it was those who understood its value first that capitalized most. The same is true for any technology. The more you understand about its utility and the earlier, the more you stand to gain. 

In the case of Polkadot, that means understanding that it could be a fundamental piece of the greater cryptocurrency narrative. 

The best way I’ve heard that explained is to suggest that Polkadot is analogous to HTML. HTML, or HyperText Markup Language, is the code and symbols that determine how files are displayed on the internet. It tells your browser how to display the data encrypted within it. As this article put it, “HTML enables sites, browsers, and servers to interact with each other.”

Technology

As Polkadot notes on its website, “Polkadot is a network protocol that allows arbitrary data—not just tokens—to be transferred…

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