What is Polkadot?

Polkadot is a decentralized multi-chain network that was created by Ethereum cofounder Gavin Wood.

Polkadot is a decentralized multi-chain network founded by Ethereum co-founder Gavin Wood. It operates as a "Layer 0" blockchain, where its base chain (Relay chain) provides security and interoperability to multiple Layer 1's built on top of it, known as parachains.

To use Polkadot, you'll need a wallet compatible with the network, like SubWallet or Talisman. Polkadot's native token is DOT, so to start using the chain, fund your Polkadot wallet with some DOT. You can acquire DOT on the Polkadot network by transferring funds from a centralized exchange (CEX) like Coinbase or Binance, or through a native bridge solution like Acala.

Most of the top applications on Polkadot can be found directly in the dApp directory. Within the directory, you can explore dApps and parachains that are built specifically for their niches, such as DeFi, NFTs, real-world assets (RWA), and decentralized exchanges (DEXs).

The user experience on Polkadot is quite similar to that of Ethereum and Solana. For instance, when using the NFT platform KodaDot, you can start by connecting your wallet in the top right-hand corner using the "connect" button, and then proceed to buy, sell, and browse NFT collections.

Currently, there are over 300 different dApps to choose from in the Polkdaot ecosystem. Out of these, some of the most popular applications include its cross-chain utility hub, Acala, DEX's such as HydraDX and Beamswap, and DeFi lending protocol Centrifuge.