Some of the hottest currencies are stationed in the Ethereum Network. However, when it was thought that the Ethereum design is limiting, Polkadot platform seems to be the new promise for several developers. The numbers of monthly active developers on the Polkadot network is increasing every day.

Ranging from stablecoins through social networks lot of projects are getting built on the Polkadot platform. Normally, developers build apps on the blockchain network; however, the Polkadot platform permits building block chains, which will be able to talk to other ledgers. Not only tokens, but also arbitrary data can be transferred across the blockchains.

Gavin Wood previously expressed that we will now be able to see the different innovative projects which can be built in a smart contract environment. In a previous interview he stated, “Game blockchains, ensuring gamers don’t cheat. Blockchains within consortia. They are difficult to deploy in a smart contract environment.”

Reportedly, experts opine that Polkadot is only trading at 10% of the value of Ethereum, and they are propagating the theory that it has a much higher than 10% chance of being a competitor to Ethereum.

While the price charts have been recording bullish waves, it just looks like DOT will have to go through some correction. For now, Polkadot (DOT) reigns as the 8^th largest cryptocurrency by market capitalization. DOT is very actively traded versus USDT on Binance, OKEx, and Huobi Global.

Reinstating the role of Polkadot on the blockchain ecosystem, Sydney Ifergan, the crypto expert tweeted:  “Polkadot (DOT) facilitates to link different blockchains, this making communication and inter-operability easy between blockchains.  If all goes well, this can be a huge factor for mass adoption.”

Polkadot (DOT) Value Held in one Currency

Polkadot is set to come to BitMex, the trading platform for cryptocurrency derivatives.  BitMEX, recently announced the upcoming launch of Polkadot underlying quanto futures contracts.  Traders will be able to trade DOT Futures with a maximum leverage of 25x.

The thing that is important about quanto futures is that, the value is held in one currency and it is calculated in another. Also, traders will be able to operate in one coin without having to hold multiple Altcoins or the USDT.

Polkadot is growing in popularity.  It has a good news following.  The developer activity in Polkadot is more than in TRON and EOS.

Reportedly, during November, the project is set to start Alpha testing of their wrapped Bitcoin, PolkaBTC, which is expected to go live at the beginning of 2021.