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What is Polkadot?

Polkadot is a decentralized protocol designed to enable secure communication between independent blockchains, allowing the transfer of data or value without a middleman. Its design prioritizes speed and scalability by using numerous parallel blockchains called “parachains”. Its native token, DOT, is utilized for staking and governance within the network and can be purchased and sold on exchanges. The founder of Polkadot, Gavin Wood, was also a co-founder of Ethereum. Polkadot aims to solve the scalability and governance problems of blockchain-based systems by providing a solution that can handle a large number of transactions while maintaining a secure and decentralized governance mechanism.

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