Polkadot had a positive performance since few months ago in the cryptocurrency world. It could create an opportunity for both micro and giant investors. As a result, its native token called “DOT” surged significantly. The main question here is, what is the main reason of Polkadot popularity and who are the main directors of the project? In this article we are going to explain, what is going on behind Polkadot scene?
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How did Polkadot become successful?
In order to answer to these questions, we are going to directly go deep in this topic. The truth is that the main fund, which invested in this project is coming from China. Particularly, 20% of total 200 investors of the project are from China.
Perhaps it is your question that how could Polkadot raise such a huge fund from China. In fact, there is a low-chance for a project to become successful in China without participating in blockchain conferences and exhibitions. This process is truly time-consuming and costly. Polkadot could success in this field and the reason is that Gavin Wood, who is the first role player of the project, could create a community consists of Chinese investors, marketers, developers, and influencers. In addition, he is semi-resident of China.
What Is Going On Behind Polkadot Scene?; The team behind Polkadot project?
The major reason, which convinced the community to join the project was the technology that has been used in this project. Consequently, 44% of Ethereum developers migrated to Polkadot project. However, it is still too early to judge and evaluate the Polkadot technology. The reason is that it can process only 12,000 transactions per day, which is 1 million transactions for Ethereum.
Even back in 2017, when Ether price was around $10, Ethereum blockchain could process 50,000 transactions in a day. However, in cryptocurrency world everything is based on consensus. Therefore, any projects that someone creates and people believe in, could consider as a success.