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Polkadot Altcoins Will Make Billionaires in 2021 | Polkadot Price Prediction
Disclaimer Before Reading this Article: Article is only informative based, not an education on where to invest. If you are considering to invest, do your own research for your safety.
What is Polkadot? Imagine if all cryptocurrencies currently in existence were like social media websites, and you can only possess just ONE such website on your phone’s browser at a time. While each “website” or “webocurrency”, so to speak, might be fascinating on its own and perform a lot of fun tasks, the isolated nature of these websites would certainly still be frustrating over time, wouldn’t it? Especially if it costs a significant penny in transaction fees, for users to switch from one “website” to another. It gets even worse for developers who have to learn a whole new programming language just to develop smart contracts and decentralized apps on different blockchain ecosystems.
This is where Polkadot comes in. Officially launched in May 2020, Polkadot (DOT) is a network designed to join the dots with all other networks. It's commonly referred to as a multi-chain network, because it can join networks together, unlike networks like Bitcoin, which operates on its own. Just like how HTML allows web developers to create sites, browsers, and servers that interact with each other, Polkadot’s ultimate aim is to act as a framework for all blockchains that opt-in. As the cryptocurrency space continues to grow day by day as more and more blockchain developers continue to enter the space, the idea is that Polkadot will take care of messy and costly cryptocurrency mining processes (including validation of transactions and security protocols), thereby enabling developers to fully focus on creating dapp and smart contract functionality.
Polkadot was created in 2016 by Gavin Wood, a co-founder of Ethereum, and is still currently being built by him. In conjunction with Gavin, Polkadot is also being developed by the Web3 Foundation and Parity Technologies, co-founded by Gavin Wood and Jutta Steiner. As yet another Ethereum co-founder with an ambitious project spin-off, it is left to see if Gavin can strike gold twice with his new coin.
WHY DOES POLKADOT MATTER?
The question to ask of course is, just how important is Polkadot? Why would build a general framework for all blockchains matter Well, the simple answer to this question is another question: just how important was HTML to building the current internet as we know it? If you’re versed in computer science, the answer to that is self-evident. And even if you’re not, you can certainly guess what the response will be: a lot! If web developers had to learn machine language to build just one single website, we would have a lot fewer websites than we do today. Something which might or might not be a good thing, as anyone who has had to suffer the horrors of countless website redirects would tell you.
Anyways, the point is, Polkadot is of immense value because of the possible simplification processes it seeks to offer. Right now, blockchain developers who build innovative, decentralized systems currently have to design these models from the ground up, for each blockchain ecosystem. This means crucial time, talent and significant resources are diverted into building competing networks, rather than creating an accepted standard template everyone builds on, just like the formalized HTML code structure greatly aided the interoperability of the internet as we know it today. This is Polkadot's aim, that is, creating the perfect template for developers to build value on top of all blockchains in existence, rather than focusing on just one ecosystem as they do right now.
Polkadot Price Prediction 2021
Let’s get right down to the actual monetary value of DOT. Like all cryptocurrencies, 2021 has been an exceptionally good year for DOT, with a bullish run that saw the value of DOT increase from $9.12 in January to an over $42 all-time high. The bullish run, largely initiated by Bitcoin and Ethereum ultimately targeted an all-time high of $50 and almost got that, after $42.98 by Mid May before the market collapse triggered by BTC plunging due to Elon Musk’s Tesla Declaration and China’s clampdown on Bitcoin. Like almost all altcoins, DOT fell into a bearish trap on May 19 when the entire market collapsed, losing almost 50% of its market value. It eventually found support and consolidated finally at the $25 market range.
WHAT NEXT FOR DOT?
The question to ask of course is: where does Polkadot go from here? Is the party over or just beginning? Well, the consensus of many cryptocurrency experts strongly favours the latter. Many analysts strongly believe DOT will reach newer heights for a variety of reasons, one of them being that it is considered the fastest transacting cryptocurrency currently in the market. A significant factor that will either make or break DOT’s price range this year is institutional and angel investors. So far DOT is still largely a “developer’s language”, that is, well known only to blockchain developers and not the public.
Even with that, DOT is expected to hit a new high of $54 mark, without investor interest, at the end of 2021. However, if it succeeds in grabbing the attention of other investors, analysts predict DOT may rise to $63. Not bad, right?
Polkadot Price Prediction 2022
For the year 2022, only further good tidings are expected for the token according to experts. Coinpedia forecasts that DOT could resume the year 2022 with a value of $54.8 during the start of January. Furthermore, the price is anticipated to rise if the currency enhances its user base as well as the investors. The price might decline if the market turns bearish and reaches $104 by the year. At the end of 2022 Polkadot would be trading at $112.5. The highest price it might hit is $122. Price Prediction For The Next 5 Years Given DOT’s unique and ambitious, goals and plans, it just could be the next big thing! Constructing a bridge for the busy highways of the crypto space is certainly not something any developer can afford to ignore. And, as you know, wherever interest in the crypto community goes, money follows.
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