Polkadot - can it become the next generation of blockchain? Can it change the way blockchain and cryptocurrency works? There are all prerequisites to believe that it is quite possible.
The Polkadot infrastructure is distinguished from the existing blockchains and cryptocurrency projects in a way how it works. You might already know that blockchains are separated structures. They cannot communicate with each other and exchange data. Taking data from external sources is also impossible for them. However, to evolve, they need to do it. and the absence of such an opportunity has become a serious issue.
This issue is effectively solved by the Polkadot network. It consists of several components.
- The Relay Chain takes care of network safety and enables communication among different blockchains.
- Parachains are different blockchains connected to the Polkadot network.
- Bridges provide an option for not-connected blockchains to connect on a temporary basis to communicate and exchange information.
Along with top security level, an experienced team, open-source code, and other benefits, Polkadot offers all the benefits that a blockchain can offer. With it, Polkadot becomes a lucrative option for long-term investment. You can follow the fluctuations of the cryptocurrency exchange rate on LetsExchange.
Polkadot Price Forecast, or What Do the Experts Say?
If you consider the DOT coin to invest in, you might want to know what the future prepares for it. It is needed to understand where the asset is heading to make a wise decision. So, let us have the most recent Polkadot price prediction 2021 and further for the next decade.
20221 was supposed to be pretty successful for the cryptocurrency. Some experts insisted that by August 2021, DOT will reach a value of approx. 80 USD. We can see already that these forecasts were far too optimistic. During this period, the coin was fluctuating around 25-26 USD per one coin. Only in September, it started growing in value. However, after reaching the mark of 37 USD per coin, the drop followed.
For the period from 2022 to 2024, the forecasts are too different. Some specialists believe that during this time, the coin value continues fluctuating around 60-70 USD until the coin finally moves to the edge of 100 US dollars.
Other experts insist that the coin price growth will be rapid. So, by the end of the indicated period, the DOT value is expected to grow to 150 USD or even more.
The bullish correction might continue until 2027 until the coin reaches the mark of 200 USD. Further, a drop will follow. The DOT value might drop again to the mark of 60 US dollars per coin. Once it happens, the growth will start again. It is expected that until 2030, the coin value will increase by 1-2% per year.
Don’t forget that cryptocurrency is a highly volatile asset. Also, it is difficult to determine their movement trends and factors that influence them. That’s why the best approach to trading crypto or investing in it is to learn everything that you can.