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On average 83%* lower fees than other crypto exchanges, with the best possible execution price for your DOT. No hidden fees.
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Polkadot is a groundbreaking cryptocurrency project that aims to revolutionize the blockchain ecosystem by enabling interoperability and scalability between different blockchains. Launched in 2020, Polkadot was founded by Gavin Wood, one of the co-founders of Ethereum, with the vision of creating a multi-chain network that allows different blockchains to communicate and share information seamlessly. The core concept behind Polkadot is to establish a heterogeneous multi-chain framework called a "relay chain," which serves as the main security hub for the entire network.
Polkadot utilizes a unique technology called "parachains" to connect various blockchains to the relay chain. Parachains are independent blockchains that run in parallel to the relay chain but can still benefit from its security and scalability features. These parachains can be designed for specific purposes and cater to different applications, ensuring flexibility and customization within the Polkadot network. Additionally, Polkadot employs a sophisticated consensus mechanism called "shared security," where the relay chain's validators are responsible for securing the parachains and validating their transactions. This mechanism enhances security and reduces the need for separate validators for each individual chain. Moreover, Polkadot introduces a governance system that allows token holders to participate in decision-making processes and influence the future development of the network. This governance model fosters decentralization and ensures that the network can evolve based on the consensus of its participants. Overall, Polkadot's innovative approach to interoperability, scalability, and governance positions it as a promising cryptocurrency project with significant potential to reshape the blockchain landscape.
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Read more Finst is an Amsterdam-based cryptocurrency exchange led by a team of investment professionals who have previously helped build one of the largest retail investment platforms in Europe. Finst offers the lowest transaction fees in Europe for a wide range of cryptocurrencies through a unique and highly secure platform.
Leveraging decades of combined trading, security and engineering experience, Finst aims to create a level playing field for all crypto investors and remove the high entry barriers associated with investing in cryptocurrency.
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