Popular with the name Ethereum Killer, Polka Dot is one of the popular cryptocurrencies. If you have to talk about any cryptocurrency after Bitcoin, then the first name that comes to our minds is Ethereum. It is in 2nd place on the list of top cryptocurrencies. But soon Polka Dot is expected to take the place of Ethereum.
In the last few months, this swiss-born cryptocurrency has taken over Ethereum in terms of market gains. In the list of the top cryptocurrencies in terms of market cap, Polka Dot occupies 6th place. Its interoperability and potential scalability are the main reasons for its popularity. Just visit pattern-trader.app for more information on trading.
Polka Dot is a data-sharing network and this will in connecting with other blockchains. That way, they will be able to communicate with other blockchains. There are three different types of blockchains at present – The Relay chain, The Network, and the Parachains.
Is Polka dot a good investment?
Polka Dot was launched in the year 2020. DOT is the native coin of Polka Dot and in just one year of its launch, it has gained good popularity in the market. Polka Dot uses very innovative blockchain technology which makes it a more functional and usable crypto coin. It is predicted by the experts that the value of Polka Dot will reach or may even cross $50 this year.
So, if you are planning for investing in Polka Dot, then you should start investing now. Its the best time for your investments.
Let us look at some of the pros and cons to understand whether Polka Dot is a good investment or not:
Pros of Polka Dot:
• With the help of Polka Dot, different platforms can communicate with others. It is a very important feature because it facilitates the interoperability of all blockchains. It also helps the other blockchains that are being built on the other networks.
• Polka Dot has a highly technical team, which includes the best developers, R & D engineers, and Ethereum Co-founder as well.
• It has got some of the best advisors. It has partnered with advisors like Vlad Zamfir, Zooko Wilcox, Professor Emin Gun Sirer, and the Co-founder of Ethereum Gavin Wood.
• The team of Polka Dot makes sure to main high transparency among the investors. It has maintained the same in press releases, conferences, and live streams as well.
• It is a very flexible cryptocurrency. They made sure that it can accommodate other types of blockchains as well and so they made it as much adaptable it can be.
• The main developers and the other team members always keep posting on Reddit about the community. They communicate with the community and make sure that they have answers to all their questions.
Cons of Polka Dot:
• There can be high competition to Polka Dot and its interoperability network. There are many projects related to it that are in development. They are not yet released, but once they do, then they can face heavy competition.
• There are a lot of other cryptocurrencies in the present market that is trying to occupy the space of Ethereum. So, it is not going to be very easy for Polka Dot to get to that place or stay in that place for a very long. Ethereum itself is a big competition.
Polka Dot is surely a new blockchain network or project and it has been just one year since its launch. It is just the beginning and it has reached a good place even during its initial stage. It is a known fact that the Ethereum blockchain is perfect and to compete with Ethereum, Polka Dot has to work very hard. The team has very good experience in developing blockchains of this sort and they will show them in results.
If you want to know whether it is good to invest in Polka Dot or not, then it is surely a great option. The price will soon go high and this is a perfect time. You should start your investments today but with the knowledge of all the risks around Polka Dot. You will make profits in the long run if you invest with Polka Dot.