Polkadot (DOT): how it works, supply and reviews
In short
- Type
- Sharded multi-chain network: a relay chain plus application-specific rollup chains (parachains)
- Maximum supply
- Capped at 2.1 billion DOT; total supply is about 1.6 billion DOT
- Risks and caveats
- DOT is inflationary until the 2.1 billion cap is approached; net inflation depends on burns and coretime sales.
- Checked
- 31 October 2026
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Key facts
- Ticker
- DOT
- Official site
- polkadot.com
Key facts checked on 31 October 2026 against official sources.
What is Polkadot
Polkadot is a multi-chain network in which a relay chain secures many connected rollup chains (formerly called parachains) and lets them exchange data. DOT is its native token, used for governance, staking and buying coretime.
Network and consensus
| Parameter | Details |
|---|---|
| Type | Sharded multi-chain network: a relay chain plus application-specific rollup chains (parachains) |
| Consensus | Nominated proof of stake with BABE block production and GRANDPA finality |
| Block time | One relay-chain block every six seconds |
| Smart contracts | Yes; Polkadot Hub runs smart contracts with Ethereum-compatible tooling |
| Launched | Genesis block on 26 May 2020; proof of stake from 18 June 2020; transfers enabled 18 August 2020 |
Supply and issuance
| Parameter | Details |
|---|---|
| Maximum supply | Capped at 2.1 billion DOT; total supply is about 1.6 billion DOT |
| Issuance | Since Referendum 1710 (January 2026), issuance steps down every two years, first on 14 March 2026 |
| Staking rewards | New DOT rewards validators and nominators and funds the Treasury |
| Redenomination | On 21 August 2020, 1 old DOT became 100 new DOT |
What DOT is used for
- Voting in on-chain governance (OpenGov) on fees, inflation and upgrades
- Staking to secure the network and earn rewards
- Buying coretime to access secure computation for rollups
Who develops and governs Polkadot
- Governance
- Polkadot OpenGov: every protocol change needs a stake-weighted referendum
- Decentralisation
- The Sudo super-user module was removed on 20 July 2020, handing governance to DOT holders
- Foundation
- Web3 Foundation publishes the Polkadot Wiki and runs the security reporting process
- Developer
- Parity Technologies maintains the Polkadot SDK and the developer docs
History
| Date | Event |
|---|---|
| 26 May 2020 | Genesis block produced; the network starts as proof of authority under a single Sudo account. |
| 18 June 2020 | Polkadot switches to proof of stake. |
| 18 August 2020 | DOT transfers are enabled at block 1,205,128. |
| 21 August 2020 | DOT is redenominated: 1 old DOT = 100 new DOT. |
| 12 August 2023 | Coretime, proposed by Gavin Wood, is approved, later replacing parachain slot auctions. |
| January 2026 | Referendum 1710 introduces a capped, stepped issuance schedule towards the 2.1 billion DOT cap. |
Security and audits
- Web3 Foundation runs a Polkadot bug bounty and asks researchers to report security issues privately.
- Validators are selected through nominated proof of stake, which spreads stake evenly across validators.
Risks and caveats
- DOT is inflationary until the 2.1 billion cap is approached; net inflation depends on burns and coretime sales.
- Issuance rules can be changed by on-chain referendum, as happened in January 2026.
- The network started under a single super-user account before control passed to token holders in July 2020.
Official links
- Website: polkadot.com
- Docs: docs.polkadot.com
- Wiki: wiki.polkadot.com
- Source code: github.com/paritytech/polkadot-sdk
- Governance: wiki.polkadot.com/learn/learn-polkadot-opengov
Questions and answers
What is Polkadot?
Polkadot is a multi-chain network where a relay chain secures connected rollup chains and lets them interoperate. DOT is its native token.
What is the maximum supply of DOT?
DOT is capped at 2.1 billion; total supply is about 1.6 billion DOT. Issuance steps down every two years since Referendum 1710.
How does Polkadot reach consensus?
Nominated proof of stake, with BABE producing a block every six seconds and GRANDPA finalising them.
When did Polkadot launch?
The genesis block was produced on 26 May 2020; proof of stake started on 18 June 2020 and transfers on 18 August 2020.
Why did DOT balances change in 2020?
On 21 August 2020 DOT was redenominated: one old DOT became 100 new DOT.
Sources
- Polkadot Wiki — DOT Token
- Polkadot Wiki — FAQ
- Polkadot Wiki — Consensus
- Polkadot Wiki — Polkadot 1.0
- Polkadot Wiki — OpenGov
- Polkadot Docs — home
- Polkadot Docs — Smart contracts overview
- Polkadot SDK README (GitHub)
- Web3 Foundation — Security report
More in this section
- Avalanche (AVAX)
- BNB Chain (BNB)
- Internet Computer (ICP)
- Sui (SUI)
- The Open Network (GRAM)
- Polygon (POL)
- All Crypto projects →
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