THIS CRYPTO IS INSANE - POLKADOT $DOT REVIEW!

What is up? I am Crypto Mason and welcome back to the Crypto Mason YouTube channel. Shout out to the Gold Squad. We look for gold in every single aspect of our lives and we always find it. Now today we have a dedicated deep dive into a project that I have never really talked about focused in, in a focused manner on this channel. This is Polkadot. Now I have been awakened to the potential of Polkadot, um, and we also have partnered with them on this video through their treasury, which we will highlight inside of this video as well. So we're going to deep dive into a little bit about how Polkadot works, what's in the ecosystem, and what this thing actually does, as well as some regulatory information that I absolutely love, um, the stance that Polkadot has taken. So let's dive in here. If we hit 400 likes on this video, I will give away some Polkadot tokens inside of the Gold Squad Discord. So this is the main website. This is what you're hit with when you go to polkadot.network. Obviously, we know Polkadot has a huge following on Twitter. They also are one of the top coins in the whole crypto space, ranking at number 13 right now. They're the only one as well that has the nice little GIF, the nice little GIF or whatever they're called, right there somehow as their, uh, as their picture, right? It goes, morphs into that, uh, Fire logo. So we'll, we'll talk about the token in a bit here. However, let's dive into a little bit about how it got started and what this even is and what, what, what does it even do. Okay, so this was created by someone called Gavin Wood. Now you might recognize that name because Gavin Wood actually is the co-founder of Ethereum and he's the creator of Polkadot and Kusama. Okay, here he is right here, co-founder of Ethereum, former CTO of the Ethereum Foundation, and now he has created Polkadot. So this guy is an absolute wizard, right? He was writing code for Ethereum, which is absolutely insane. He was also a research scientist at Microsoft, so very smart dude, kind of came up around Vitalik Buterin. You can see them there. Um, and this is actually crazy, right? This was one of the details that blew my mind about Polkadot when I found it out. But what actually is Polkadot? So Polkadot has a main central blockchain, uh, called the Relay Chain, okay? And then they have parachains, which are separate interconnected chains, but each parachain actually focuses— or sorry, functions as its own blockchain with its own smart contracts, governance, even their own native token. But being part of this Polkadot as the main relay chain, they can easily transfer stuff like tokens, data, assets to each other and use Polkadot's massive security. Okay, so the actual DOT token plays a big role in this, in being the native token of Polkadot. And that's kind of basically how it functions, but it's any type of data across any type of blockchain. Polkadot is a network protocol that allows arbitrary data, not just tokens, to be transferred across blockchains. So they can— Polkadot can transfer this data across public, open, permissionless blockchains as well as private permission blockchains. This makes it possible to build applications that get permission data from a private blockchain and use it on a public blockchain. For instance, a school's private permissioned academic records chain could send a proof to a degree verification smart, smart contract on a public chain. That's a crazy use case right there. So right here, uh, you have like kind of what makes up this entire network. You have the Relay Chain, which is the heart of Polkadot. You've got the parachains, which are sovereign blockchains that are on their own but also connected to Polkadot. They also have parathreads, okay? So this is similar to parachains, but it's more of a pay-as-you-go model, okay? So obviously Polkadot is a layer 1. There's a bunch of different tokens and projects built on top of Polkadot, or I guess you could say beside with the parachains. And then there's bridges which allow parachains and parathreads to connect and communicate with networks like Ethereum and Bitcoin. They've got the consensus roles— there's nominators, validators, and collators. Um, we're not going to get too deep into the, the tech here because it is pretty crazy. Um, and I— you guys know we don't cover like super in-depth tech on here. And then as far as governance roles, you have council members and you have the technical committee. Okay. And this, if you guys want to know more about how it actually works, they go into that on their website very, very nicely. So there's obviously wallets built inside the Polkadot ecosystem. You've got Talisman, SubWallet, any of these, uh, will work, okay, to, you know, stake, interact with Polkadot-related Web3 products. Um, so the wallets can be found easily on there. They've also got, um, validators, so you can go and run your own validator. You can apply to be a validator, and this is going to obviously earn you Polkadot tokens. They are a 100% open source project, so anyone can go on and go and run a Polkadot node, which is very, very cool. Okay. You can apply for funding from the Polkadot treasury. Okay, so that's right here. This is the treasury. So basically the treasury has a bunch of DOT tokens that they give out to— for people to do things, right? So if you actually go to the treasury right here, you can see some of the proposals coming through and being voted on. So if we click here or click onto this one, you can see, um, all the details about this, and you can see the voting and all of that, uh, and what's going on with some of these proposals. So some are asking for more DOT, some are asking for less DOT— $100,000, $38,000— lots of people asking for, for DOT tokens, right, which is through the treasury. So that's extremely decentralized, right? Anyone with a Polkadot wallet can come on here and draft up an idea to help the Polkadot network or something that they want to build, and boom, the Polkadot, uh, treasury can dish out some tokens. So they have, uh, $164 million— $164 million in that treasury. Absolutely insane. So here's the chart of the Polkadot token, right? Obviously this is central to everything they're doing. We're up 37% in a year. It's been doing pretty good. Um, you can see here's the log scale chart right here. We're at $7.2. All-time high is somewhere up in the $50 range. So obviously $7, if it goes back to all-time high, that could be a great entry. We've also got, uh, It's on every single exchange you could ever imagine, 431, uh, different exchanges. But Polkadot, very technical heavy project, but it allows so many people to build alongside it, uh, and build with it and build that ecosystem. And that's why it's in the top 15, right? So here's some of the dApps we can see that have built on Polkadot, right? You've got Bifrost, Centrifuge. These are some big names here. You can keep going all the way through all of the, uh, stuff that's built on Polkadot, which is very cool. Now here's one thing I wanted to highlight because I found this very, very cool. I remember when this came out in November of 2022, the Web3 Foundation, which is kind of who runs Polkadot, um, obviously open source, it's community-based. They came out— look at this. Web3 Foundation— I love this. Web3 Foundation announced today a landmark achievement towards the realization of Web3. The Polkadot blockchain's native digital asset, DOT, has morphed and is no longer a security. It is software. Amazing, right? With all these these, the SEC cases trying to call this all a security and everything. They're expressing that their view is that current offers and sales of DOT are not securities transactions. DOT is used for the purposes for which it was designed, among other things, to bid for and secure parachains and facilitate on-chain government or governance. Control of the Polkadot network has long been in the hands of DOT holders. Today DOT is not a security, it is a software. Very cool response, and it's true. DOT or Polkadot is very decentralized, as you can see from the stuff that we've, uh, been going over. Now if you do pay attention on their Twitter as well, you will see that they come out with crazy updates all the time. It's a very active blockchain. There's a lot being built. They're upgrading it all the time. Uh, very, very cool stuff. They're doing the bridges. They have Kusama, which is kind of like the sister network, um, uh, to, uh, Polkadot. And, uh, let's get into some of the, the other things that have recently came out. So they did have this Hydration.net, uh, which is kind of a swap or a trading platform here that was built, uh, on Polkadot. The main— oh, they gotta— oh, they're rebranding. There we go. So this is their, their one right here. Uh, you can also send USDT powered by Polkadot on Telegram, which is pretty crazy, um, and pretty awesome that you can do that. So we'll have much more content coming out, um, kind of going over the Polkadot ecosystem, highlighting different things Maybe we'll do a more technical video if you guys want to see that. Um, obviously there's staking, bonding. You guys can explore the ecosystem as well, try to build something in it, which would be very cool. You could get a grant, or I don't even know if they call them grants. You could put through a proposal and they'll give you some DOT tokens if it gets approved. So that is Polkadot. Uh, thank you to them for approving the proposal we were in so we can create some dope content on Polkadot. Make sure you drop a like, comment, subscribe, and goodbye.