Polkadot is a blockchain-based decentralized computer offering shared security and secure interoperability as a service.

An application (including fully-fledged blockchains) can access Polkadot’s secure computation and interoperability by buying coretime with DOT to reserve computation time on one of Polkadot’s virtual CPU cores. Revenues from coretime sales are burned, contributing to the protocol’s revenue.

Polkadot achieves scalability through its virtual multi-core CPU. Applications connected to Polkadot’s cores have the guarantee that their data is secured and processed in parallel. Polkadot achieves both data and execution sharding via this multicore architecture.

DOT is Polkadot’s native token used in staking, governance, and coretime purchases. DOT is also the fee-paying asset on Polkadot and its system chains. How does Polkadot achieve security? Polkadot ensures security through the ELVES protocol and Nominated-Proof-of-Stake (NPoS). ELVES provides the shared security model by ensuring that anything coming through Polkadot’s virtual cores passes rigorous checking and adheres to Polkadot’s rules. NPoS ensures that all active validators have a similar stake by leveraging the role of nominators.

Yes, Polkadot can connect to Ethereum and Bitcoin using the Bridge Hub system chain. Snowbridge is an example of an operational trustless bridge between Polkadot and Ethereum. Snowbridge does not depend on trusting centralized entities to relay messages. Hyperbridge is a roll-up chain secured by Polkadot that trustlessly bridges multiple blockchains, including Ethereum, Arbitrum, Base, Binance Smart Chain, Optimism, and Gnosis.

If you need help with staking on Polkadot, please contact support.