Polkadot has increased in price by about 30% in the past week...outperforming both Bitcoin’s 4% gain and Ethereum‘s 0.5% gain. Polkadot is now and has been the fourth-largest cryptocurrency by market cap after appreciating 60% in the last 60 days.
Polkadot is a cutting edge blockchain that expands on the progressive guarantee of past blockchain networks. Polkadot is a sharded multichain network, which means there are no bottlenecks like on legacy blockchains.
One of the greatest features of Polkadot is the plug and play coding.
A key player behind the network’s development is Parity Technologies, a for-profit European-headquartered firm building tools for the open-source Polkadot platform.
Parity also is the company behind Substrate, a set of tools for developers to create blockchain applications with Polkadot, often known as decentralized apps, or dapps.
“Substrate packages everything the core developers at Parity have learned building, launching and maintaining Ethereum 1.0, Bitcoin, Zcash and now Polkadot,” Mauric told CoinDesk. “The hope is this creates a middle ground, where a high-quality development team can build and launch their own chain without the incredibly large overhead associated with building a blockchain from scratch.”
What this means is that it gives tremendous flexibility for project developers. Already have a project on Ethereum and want to get your project on Polkadot...not problem as the base code is the same. Have a project on Polkadot and want to a presence on Ethereum...not problem because Polakdot is an interoperable blockchain.
I will agree, Polkadot has a lot of hype for a blockchain that hasn't really launched yet. But it's the network effect and all the pending projects that justify the hype.
I'm not only a fan, but I'm an investor in Polkadot. Polkadot isn't an Ethereum killer, but I will say it's an transaction fee killer. Imagine going from paying $40 for transaction cost to $0.50. That's mind blowing, but that's what Polkadot offers with I'm going to say very comparable project that exist already on Ethereum.
If you want to get long Polkadot, the charts suggests to go long on a pull back to the daily demand at $22.50.
This post is my personal opinion. I’m not a financial advisor, this isn't financial advise. Do your own research before making investment decisions.