Polkadot (DOT) is one of the star projects of the year 2022. After explosive progress, and a severe correction, the project continues to develop by improving its very DNA: its governance system. It is a project that remains dynamic, and which still lives under the snow of the crypto winter. Plus, at 661% HUD, it offers an interesting entry point. To analyse.
Polkadot (DOT), the blockchain chooses decentralization!
Polkadot (DOT) changes its system of governance. Decentralization is not just a key word to please the followers of cryptocurrencies. This is the raison d’être of this ecosystem. And that’s the goal. Indeed, without decentralization, the applications resulting from the blockchain will have nothing new to offer. They will simply be versions blockchain of services and products that already exist today, in our centralized economies. Take currency for example. CDBC is a tokenized asset that works through a blockchain. However, if the blockchain is limited to the infrastructure of that currency, so there is nothing new. No prospect of freedom, and it’s just the 2022 version of good old paper money.
However, decentralization is a mystical tool, difficult to understand, implement and explain. It’s something that the developer teams of Polkadot (DOT) understood well. The previous mode of governance, Gov1, had many errors, according to the team Polkadot. For example, some people had more power than others. In particular the members of Council or Technical Committee. Thus creating first-class citizens, and therefore second-class citizens.
In the blockchain, you have to move on or die
The story, as pointed out Polkadot, does not forgive human organizations that do not evolve. Economies that don’t trade, dictatorships that close borders, languages that don’t add new words. It is on this image that the team of Polkadot explained the need for a new mode of governance, but also the idea that the perfect mode of governance would never exist. The solution is in change, adaptation, evolution. The blockchain is a revolution. Now, a revolution is like a bicycle: if it stops moving forward, it falls.
Despite a will to change, some faults cannot change. 50% of polka dots (DOT) staked will always allow to have the majority. But that’s the very principle of democracy, isn’t it? Perhaps the importance of certain wallets in the decentralized ecosystems of cryptocurrencies pushes us to reinvent power-sharing models, to achieve less proportional, but fairer power. A new vision, which could inspire our political models, at a time when economic weight is crushing common interests. All in a world where the distribution of wealth is largely unbalanced.
Technical Analysis and Price Prediction Polkadot (DOT) 2022
These changes on the side of Polkadot will they have an impact on the course of the cryptocurrency polkadot (DOT) ? The fate of the crypto is not necessarily linked to that of the project and the blockchain. However, the value of polkadot (DOT) depends on staking. It is therefore indirectly linked to the system of governance.
Polkadot has a market capitalization of 7.03 billion euros. Which makes it the 12th cryptocurrency in the Coinmarketcap ranking. It is trading for 7.12 euros on July 23, 2022, a drop of almost 6% compared to the last 24 hours. The cryptocurrency polkadot (DOT) is on an extremely low area of its price.
- In August 2020 it appeared on the markets cryptowith a price of around 3 dollars.
- It then literally exploded to fetch $55, an increase of 2,984% on November 07, 2021.
- Subsequently, the winter crypto got the better of this meteoric rise.
- Polkadot went to mark support at $5.94 on June 11, 2022, which is 89% below the ATH.
- Currently at $7.26, the previous ATH offers a 661% upside potential
If Polkadot (DOT) is so far from its ATH today, this project remains one of the most promising in the blockchain ecosystem in 2022. Its ability to evolve and constantly modify its operation is a strength. It adapts, and does not die. These are good reasons to have confidence in the future of this project.
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