HOUSTON, October 14 2020 – CryptoEQ™ announces the release of its CORE Report and CORE Rating for Polkadot (DOT). CryptoEQ™ helps crypto investors gain market insights to refine their investing and trading strategies and efficiently manage their exposure across a variety of digital assets. The Polkadot CORE report is now available on the CryptoEQ™ website.

About Polkadot:

Polkadot is an open-source blockchain network designed to enable various separate, siloed blockchains to become interconnected, application-specific sub-chains called parachains. Each chain built within Polkadot uses Parity Technologies' Substrate modular framework, which allows developers to select specific components that suit their application-specific chain best. The Polkadot network is the entirety of all parachains that plug into a single base platform known as the Relay Chain. This Relay Chain does not support application functionality but instead provides security to the network's parachains and contains Polkadot's consensus, finality, and voting logic. The network aims to offer advantages of scalability, upgradeability, transparent governance, and cross-chain composability over other projects.

Polkadot Strengths

Developer flexibility: Parity Technologies' Substrate modular framework allows developers to select specific components that suit their application-specific chain best.
Shared security model for parachains: Polkadot allows developers to launch chains and applications leveraging a shared security model, without having to worry about attracting enough miners or validators to secure their own chains.
Sizable warchest to attract projects and developers: Polkadot has raised nearly $200 million dollars since 2017 allowing the project to attract top talent and marketing.

Polkadot Weaknesses

Saturated Market: Polkadot is competing in a crowded space of general-purpose smart contracting Proof of Stake blockchains like Tezos, Cosmos, Cardano, NEAR, Solana, and soon to be Ethereum 2.0 with Ethereum already establishing entrenched network effects.
Early bugs: The post-ICO multi-sig wallet bug marked the second time the team’s wallets had been hacked because of a code vulnerability. The first hack took place earlier in July 2017 in which ~$33 million was drained before the attack was stopped by a group of hackers known as the White Hat Group.
Developer Switching cost: Can parachain model prove more attractive than Ethereum’s composability? One disadvantage is that to launch an application on existing parachains in Polkadot the functionality must already exist on a current parachain, creating a problematic chicken-or-the-egg dynamic.

About the rating:

CryptoEQ™ assigned Polkadot with a Bronze rating. Bronze assets are the third highest rated assets with advantages that outweigh the disadvantages across the 10 Core Categories and gives the analysts a sufficient level of confidence. Considered high risk.

The Polkadot rating and report add to CryptoEQ’s current report and rating lineup which includes assets such as Bitcoin and Ethereum as well as many others. All ratings and reports are available on their website CryptoEQ.io.

About CryptoEQ™:

CryptoEQ™ helps investors and traders make informed investment decisions by providing comprehensive, accurate, and up-to-date research and analysis on crypto-projects. They abide by strict principles and ethics to provide honest information while actively seeking to identify scams, low quality, and nefarious projects. All CORE Reports are available at cryptoeq.io/articlesAndReports. You can find additional content on our social media platforms, which include Instagram, Twitter, Telegram, and LinkedIn. For logos and promotional images see our press kit.

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