Polkadot Casinos 2022

martin-hillMartin Hill
11 min read
Polkadot Facts
Polkadot-logo
Company: Web 3.0 Foundation
Founded in:2017
Headquarters:Zug (Switzerland)
CEO: Gavin Wood, Aeron Buchanan and Reto Trinkler
Website:polkadot.network
Available in:Most countries in the world
Available in Canada: since 2020
E-Mail:[email protected]
Best Polkadot Casino:Cloudbet Casino
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When it comes to crypto currencies, for those of us not heavily vested in the market, it can be hard to keep track. After all, new ones are being released pretty much every day.

Yet, with so much buzz around the matter, it can be well worthwhile to keep an eye on the different coins around. This is true for investment purposes as much as casino gambling.

As such, we see it as our duty to help our readers better understand their options – particularly when it comes to some of the lesser known cryptos, like Polkadot.

While we have no doubt that you have heard of Bitcoin, and likely Ethereum, Litecoin, and even Tether too, Polkadot (or DOT for short) is not necessarily a digital coin you have come across. And fair enough. It has only been on the market since 2020. Although it has gained much praise and interest since then, it rarely breaks the top 10 crypto ranking lists. On the other hand, few think it will fail, like thousands of digital coins before.

Regardless, as the brainchild of none other than, Gavin Wood, the man behind Ethereum and Kusama, it has gotten a fair bit of attention, including ours – which is why we have chosen it as the subject of this crypto casino review.

Visit Polkadot Casino Cloudbet

Contents

Best Polkadot Casinos 2022

If you have yet to come across a Polkadot casino, rest-assured, you are not alone. Unfortunately, neither have we. And that is for one simple reason, being that at the moment, there are simply very few around. So despite our scouring of the internet, and turning to all our preferred sources, the selection our expert review team was able to conjure up was admittedly small.

That being said, after careful vetting, these few are all top of the line, and any one of them would make for an excellent choice for your crypto gambling needs in terms of safety as much as fun. And since DOT is only on the rise, we expect this list will continue to grow, so stay tuned for additional sites and recommendations.

eCOGRAGLIiTech LabsMalta Gaming AuthoritySSL Secured
1.
cloudbet-cryptos-only95% Excellent5 BTC / $1,000 + 200 Free Spinsvisit Cloudbet CasinoRead Review
2.
22bet-logo93% Outstanding$300visit 22BetRead Review
3.
BCGame-Logo93% Outstandingno limitvisit BC.Game CasinoRead Review
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20Bet-Logo92% Outstanding$180+ 120 Free Spinsvisit 20Bet CasinoRead Review
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What Is Polkadot Anyhow? A Short History Behind the Crypto Coin

This one’s a little complicated, but here we go… Polkadot is a platform and cryptocurrency for Web 3.0. Its protocol was created by Gavin Wood1, Ethereum’s co-founder. In its initial coin offering (ICO) in 2017, likely inspired by his reputation, it already raised more than $144.3 million. Its actual block release came a bit later in May 2020.

As the flagship project of an organisation calling itself the Web3 Foundation (based in Switzerland), it partners with developers from Parity Technologies, ChainSafe Systems, Soramitsu, Inria Paris, ETH Zurich, and more, with a strong goal in mind. According to the mission of its founders that being:

We envision a web where our identity and our data is our own – safely secured from any central authority.”

Polkadot does not have a market cap per se. Rather, it is an inflationary crypto currency, meant to rise by 10% each year. This model is intended to incentivize people to spend or stake their coins rather than hold them, to prevent loss in their value as the number of coins goes up. There are now, by the way, more than 1 billion DOT coins in circulation, with the number growing.

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Also known by its trading initials DOT, this token is more than a new digital payment method. It is designed as an extensive network that enables communication between different blockchains – even if they actually act independently of each other. The connection between such networks is referred to in technical jargon as parachains.

blockchainThe advantage for other blockchains is that they can benefit from the security of what is called the Polkadot Mainchain (main chain) and can save their own connections, the provisioning of which would require a high level of technological effort. This makes the network not only interesting for investors and casino players, but ultimately also for all known blockchains – from Ethereum to Bitcoin.

Also described by experts as a new generation blockchain protocol what it really is about is interoperability, transactional scalability, easy blockchain innovation, security, user-driven governance, and of course with far less energy required for mining it than other crypto currencies, energy efficiency.

Gavin James Wood Polkadot

©gavwood.com | Programmer Gavin James Wood, best known as a co-founder of Ethereum, is the brains behind Polkadot.

To us interested in it for crypto gambling purposes, this of course all reads as fairly complex. And even may seem complicated for the many of us who simply see DOT as the sensible and lucrative investment it is cracked up to be.

The reality is, however, that despite all the complexity (and fancy terminology) behind the unique concept, you in no way need to master the technology or driving principles behind it in order to use it. DOT as a token is just as easy for players to handle as Bitcoin, Litecoin, or Ethereum. And for our purposes, that is really more or less all we need to know.

What Are the Options for Playing with DOT in Crypto Casinos?

Like we said, not all operators, or even most, currently offer this as a payment method. But at least in professional circles, it is assumed that DOT as a cryptocurrency has enormous potential – especially since Polkadot is pursuing new goals and thus accepting the challenge of making payments on the internet, and ultimately banking at crypto casinos safer in turn.

With all the positive properties of the Polkadot token, one should of course not ignore the fact that volatility in the crypto market is extremely high, and the competition is huge. This has an impact on investment purposes of course. But it also just as much affects availability, as casino operators keep up with the trends, adding additional cryptos as they gain in popularity. This means we are gradually seeing smaller coins making an entrance to casino cashiers, expanding your options well beyond the traditional Bitcoin gambling genre, with more Polkadot casinos, we’re hoping, on the horizon.

star logoIn terms of investment purposes, a small thing to consider: The decisive factor as to the success of DOT is whether or not the interest in networking from other blockchains is going to be, and continue to be, as great as the founders hoped. Unfortunately, these factors cannot be predicted, so we can only wait and see how Polkadot develops.

Buying Polkadot – A Few Prime Options

As for acquiring DOT, if you don’t yet have this digital coin or want to expand your holding, there are two main options. One is to participate in the mining process on the blockchain network. This albeit, may be simpler and less costly than mining Bitcoin, but we are guessing not what most of our readers will be doing. So in that case, you can even more easily buy Polkadot coins via one of the crypto exchanges. The following, from our experience, are all good options:

Remember, unlike USD Coin or Tether, Polkadot is not a stablecoin. That, of course, means that its price will fluctuate. Again, from our experience, not wildly in the way that Bitcoin is known to do. But if you are getting in on the game, you may want to watch the charts for a while and aim to buy on a low swing – that is, when you see that the price has dropped.

DOT-to-CAD-chartThis graph is an indication of the fluctuations of the DOT digital coin in comparison to the Canadian dollar, as an example, over the course of around two year’s time.MoreLess

If you already have a crypto exchange platform you like working with then you are good to go. However, if you are a newbie, we recommend doing a little research before deciding which one you’re going to use. The types of things you should be looking for when making your choice, ultimately, will be things like transaction fees, speediness of transfers, and other functions and conditions such as limits on how much you can trade at a time.

Once you have made your decision, the signup process will generally be easy and look something like this:

  1. Create an account by filling out the registration form with your correct personal data.
  2. Confirm the information you have provided is correct.
  3. Make a deposit – Usually most fiat currencies like USD, EUR, CDN, and more will be accepted.
  4. Purchase the number of DOT coins you want.

The transfer usually takes no more than a few minutes at which point you will be the owner of DOT coins.

info iconNote: In addition to making a purchase through a deposit with a common fiat like USD, all crypto exchanges mentioned will let you use any other crypto currency that you have already purchased to buy DOT.

How to Bank at An Online Casino Using Polkadot as Your Currency of Choice

Now that we know where to get DOT, the question is how to use it at the casino. This, needless to say, is simple. And if you have ever gambled online before, exactly as you are used to. All that is required in order to make a deposit with your preferred casino provider, as with all currencies and payment methods, is to complete a few intuitive steps.

  1. Select a DOT casino and register an account – it should take no more than a couple of minutes, with minimal personal data required.
  2. Go to the casino’s cashier service – usually marked by a button / icon labelled as ‘Deposit’, ‘Wallet’, or ‘Cashier’.
  3. Select Polkadot as a payment method from the icons or dropdown list you will see onscreen.
  4. Copy the one-time deposit address or scan the QR code that you see onscreen using your mobile phone.
  5. Enter the address in your own crypto wallet as the recipient (if you chose the copy address option).
  6. Specify the amount in DOT of how much you want to transfer.
  7. Click to complete the transfer.

Moonpay LogoTip: While we think it is more convenient to work with your own wallet, if you don’t yet have one, and are not interested in going that route, many crypto casinos will offer a link direct from the cashier to a third-party service like MoonPay, which allows you to buy crypto coins from there.

Technically, the Polkadot network is able to process over 1,000 transactions per second, which means it is one of the fastest around. That being said it does require blockchain confirmations to clear a transfer, which can slow the whole thing down a bit. In general, however, you can expect to see your money deposited in your casino account within a couple of minutes once you’ve completed the above process.

2-factor authenticationIf you want to add an additional layer of security to your transaction, we recommend activating 2-factor authentication (also known as 2FA) if it is available. More and more crypto casinos are offering this tool to ensure both your personal data and payments are protected in the best possible way – which is always a good thing.

Also note, if you are concerned about withdrawals, they are processed in the same simple way, just in reverse. That is, you will be clicking on the ‘Withdraw’ tab or link in your casino wallet, and cashing out from there in the same quick and safe way.

Pros and Cons of Polkadot Gambling

As with any currency there are always considerations to keep in mind – that is the pros and cons of banking with it for casino gambling purposes.

  1. What advantages does Polkadot offer as a payment method at an online casino?
  2. What are the disadvantages of using Polkadot as a payment method at an online casino?

What advantages does Polkadot offer as a payment method at an online casino?

Since there are not many crypto casinos that accept Polkadot as a payment method (yet) it is in and of itself exciting to find one. Especially since this is seen as a digital coin with a bright future. But like we have said in past reviews, giving investment advice is beyond the scope of our expertise, as much as we think this may be a good option to consider adding to a well-rounded portfolio.

That being said, the advantages that it has as a whole in terms of investment purposes are what makes it a good option for using as a currency for online gambling.

Polkadot Coin advantages at a glance:

  • Complete interoperability for coin transfers, as well as any assets or data types across a wide range of blockchain networks
  • Extremely fast transactions
  • High liquidity thanks to proof-of-stake
  • Particularly safe and reliable

fingerAlso keep in mind, in theory, Polkadot coins can be generated in unlimited amounts over time, making DOT an inflationary currency. So the probability of a gigantic price fluctuation common with Bitcoin, is very unlikely to happen. This can be a good thing or a bad thing, depending on why you are buying it. For casino purposes, however, we’d say a good thing, as it helps you keep better track of your money and gambling budget.

Video: About Polkadot and its advantages

What are the disadvantages of using Polkadot as a payment method at an online casino?

As for disadvantages, the biggest one, needless to say is the lack of Polkadot casinos as a whole. That is, unfortunately, despite this crypto’s rising star status, it is not common to come across an operator offering it as a payment option.

increaseThen there is the issue of the fluctuating exchange rate, so that even if you do find a casino that accepts it, if you’ve purchased DOT for investment purposes, it could potentially be tied up in your casino account when the price goes up and you’re in for a market killing. Though of course, you could easily quickly cash out and make your profit in time. And in any event, in the case of DOT, this is pretty unlikely as we already highlighted in the advantages section above, since this crypto doesn’t tend to have those kinds of fluctuations like BTC.

Polkadot Coin disadvantages at a glance:

  • Only available as a banking option in a few crypto casinos
  • Strong competition on the market (even in the multi-network space)
  • Inflationary, since no DOT limit was set (many would see that as an advantage actually)

Unique Aspects of Polkadot in Comparison to Other Popular Crypto Currencies

The most obvious difference between Polkadot and other cryptos is the fact that transactions between Polkadot and alternative blockchains is easier than ever. However, this feature has no particular impact on crypto gaming and is more about those who are into investing and trading.

The other big standout feature is the high level of network security, with what is called the multichain model, which is a big plus in terms of online gambling too. Because extra security is always a good thing when we are talking about real money play.

thumb up iconFor those who want to acquire it through mining, or simply those who prefer to be involved in a greener affair2, they also like the fact that its next-generation nominated proof-of-stake (NPoS) model uses a fraction of the energy of conventional blockchains.

And for those really into the world of crypto, they appreciate the user-driven governance system which gives all stakeholders a voice in things like network upgrades, ensuring the coin remains community-driven as per its intent, as well as future-proof.

Plus, you can even build a custom blockchain in a matter of minutes with what is called its Substrate framework, though again this is going to be beyond most of our needs.

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Some also like how there is no limit on this coin, like here are on other cryptos, and no cap on DOT purchases and trades.

Its trading price, though it does fluctuate, is also fairly stable. Though not technically a stablecoin, this can make it a more secure acquisition – depending on what you’re buying it for.

Also, there is the element of its value in terms of buying it. For example, you may not have the budget to buy Bitcoin, but the price of DOT is well within reason, making it a good option for those with less capital who want to build a crypto portfolio. However, it is not alone on that front either, as many other cryptos can be purchased in the $5-$10 range, and even with things like Tether, for less.

In other words, DOT is unique in numerous ways, though with so many other coins on the market, it has a lot of overlap with them, and only time will tell how successful it (or any one of them) will be in the long-term.

How Safe Is It to Play at a Polkadot Casino?

Unlike Bitcoin, DOT tokens cannot yet be used everywhere as a means of payment. So the big challenge therefore is to first find a crypto casino that accepts Polkadot. Once you have done that important first step, you have basically overcome the one significant hurdle, as playing with DOT coins is just as easy and secure as with all other crypto currencies that can be used in casinos today.

To be on the truly safe side, however, we recommend that you always double check and make sure that the casino you join is fully licensed by one of the major gaming authorities. All online casinos must apply for (and hold) a gambling license to legally process payments and use the games of the various software providers. And for crypto gambling this is no exception. It is not just about their operating legally, mind you. That is their issue. Really, at the end of the day, it is about protecting yourself as a player.

randomSimilarly fair play is at the heart of good gambling, so you need to check things like the site’s Terms & Conditions and FAQ page to make sure all game results are fair – either through a random number generator (RNG) or provably fair algorithm.

Likewise, make sure to take a minute to inquire into deposit and withdrawal timeframes, since the last thing you want to do is wait around for your money. And things like an explicit privacy policy can’t hurt when you are talking about your sensitive personal and banking data.

Safety, of course, is also always going to be at least partially your own responsibility. But it can always help if the casino has an explicit safe gambling policy, with tools and links to help you stay in control of your budget and time.

Payment Limits at Polkadot Crypto Casinos

There are many advantages to cryptocurrencies, including their decentralised nature, privacy, security, and of course, the ease in which transfers can be made.

As we already highlighted, these benefits also make for a good match with online casinos. But another huge advantage is the fact that many crypto casinos do not set limits on crypto deposits or withdrawals. If that is the case, then the limitless banking will be relevant for DOT deposits and withdrawals as well. Which is huge, especially for high rollers who will be able to deposit as much as they want in one go, so they have a big bankroll ready and waiting.

no limits at Bitstarz casino

We checked with the customer support agent: Example for a no limit casino

On the withdrawal end, you may even argue, this is even better news, as you can cash out in full at any time, without having to worry about max limits, and a multitude of smaller withdrawals to accommodate them.

That being said, some crypto casinos do have limits. So again, it is always worth checking the site’s Terms & Conditions or asking a casino’s customer support agent via live chat, just to be sure. Or you can look in the casino cashier itself, as we have found that most crypto casinos in particular are very clear in their cashier services, listing exact deposit and withdrawal limits (including the maximum and minimum allowed for each), should they exist.

This level of transparency is refreshing and by the way, often also includes info on any transaction fees you should anticipate, and even blockchain confirmations required, for the crypto that you are using.

Game Selection Available for Gambling with Polkadot Online

The reality is, there would be absolutely no point in finding a Polkadot casino if you wouldn’t be able to play there. Or if your gaming options would somehow be limited based on your currency choice. Hence, needless to say, all games found at an online casino that accepts DOT for banking purposes will be open to you for betting with this coin.

As an example, some of the game categories available at Polkadot casinos include:

fruit slot Online slot machinescoins icon Original crypto gamescoins icon Arcade games
roulette icon Rouletteblackjack-cards Blackjacklive-dealer Live casino games
jackpot icon Jackpot gamesscratch card games Scratch card games

In other words, all of the game categories you are familiar with from other online casinos, with titles from all the well-known developers out there can be played with DOT. The only difference is going to be the currency you are using. Otherwise, the gambling experience is going to be the exact same.

Tips and Tricks for Gambling Online with Polkadot

We know that our readers really like tips and tricks. And more so, that this is one of the top reasons they turn to our casino experts. Which is why we are dedicated to helping you out to this end, though the reality is, there are very few specific tips for Polkadot betting that we can give. That is because, really, at the end of the day, a currency is a currency. That is, if an online casino accepts a given currency, the experience is uniform, and you will not need any tips or tricks to get the most out of betting with it.

casino iconSo the advice we can give to this end is what we would usually say. And that is, make sure to choose wisely. That is, take care to choose a casino that is both versatile and reputable. If bonus offers are important to you, check if they are available, as well as the terms. Also, needless to say, you’ll want to ensure that the operator is licensed and that the games provided are from developers you like, or at least look interesting to you.

On the crypto end of things, you will want to check the transaction fees, and how they are applied, so you can better gage how much and how often you would like to deposit and withdraw. If it is a flat fee that you are being charged by your exchange platform, for example, you would be better off with fewer transactions of larger amounts. If it is a percentage fee, then that doesn’t really matter.

In addition, since the value of DOT can fluctuate, you will want to keep an eye on the exchange rate so you don’t miss out on a potentially lucrative trade while you have your coins tied up in the casino. This, mind you, is a lesser worry with DOT than something like ETH or BTC, which can have wild shifts even within the same day. But still something you should consider.

So just to summarise, some useful tips for DOT casinos:

  • Check the casino’s license and security measures
  • Compare costs on crypto exchanges – especially for things like network transaction fees
  • Keep an eye on the exchange rate to keep track of your money’s value
  • Clearly define limits for losses and bets so you don’t spend more than you can afford

free iconAnother thing to note: If you find a casino that you like, but are not yet ready to fully commit, most operators will let you try out their games for free. Sometimes you will have to first register a casino account, but often not even that. This is a great way to get started risk-free, before you deposit, and move on to the distinct thrill of real money gambling when you are ready.

Some Popular Alternative Crypto Coins You May Choose for Gambling

Because there are few operators that accommodate DOT payments, it makes sense to know your alternatives. While there are over 20,000 (!!) crypto currencies now in circulation by some estimations, as we all know, not all of them are created equally. Not in terms of their investment value, nor their ubiquity for casino gambling.

Your best bet, if you want to be using them for online play, is therefor to choose the more popular coins on the market like Bitcoin, Litecoin, or any of the following.

You can also go the reverse route, and first find a casino you like, then check its cashier to see which coins it accepts, and purchase in kind.

Polkadot FAQs

Beyond what we have already written in this Polkadot review, there are a number of common questions that we have encountered from readers, which can help you too. Have a look through to close any gaps you may still have in your Polkadot know-how.

  1. Are Polkadot casinos a good alternative to BTC providers?
  2. How much does it cost to deposit and withdraw using Polkadot?
  3. How long will a Polkadot deposit or withdrawal take?
  4. Can I get a special Polkadot casino bonus?
  5. How and where can I buy Polkadot?
  6. What is the Polkadot forecast?

1.) Are Polkadot casinos a good alternative to BTC providers?

At first glance, when it comes to online gambling, you would be right to assume that Polkadot makes less sense for casino customers than other, better-known cryptocurrencies. Things like Bitcoin, after all, are now even accepted at many online casinos that do not even specialise in crypto payments.

exclamation markSo in reality, it is fair to say, that in terms of availability, as an option DOT cannot yet keep up with Bitcoin or Ethereum for casino gambling. In terms of security and functionality, however, the token is in no way inferior to its competitors.

As its international reputation and market capitalisation grow, we are, for our part hoping that acceptance in the iGaming industry will grow in kind. And when it does, this crypto will 100% be a good alternative in our books.

Back to FAQ

2.) How much does it cost to deposit and withdraw using Polkadot?

There are network fees you can expect to pay for DOT transactions, just like with all other cryptos. There is no getting around this. But these fees, from our experience, are comparatively low, which is an advantage over others. That being said, there can be differences as to the exact rate, depending on the exchange platform that you are using, so you will have to check that out when choosing one. In fact, we’ll just remind you, comparing network fees is probably the biggest factor in making that choice.

smiley iconThe casino itself will rarely charge further deposit or withdrawal fees, so there will not be any additional costs on that end. But again, always double check to make sure on the site’s T&C, so as not to encounter any nasty surprises.

Back to FAQ

3.) How long will a Polkadot deposit or withdrawal take?

Part of a pleasant online gambling experience, and one of the biggest benefits of crypto banking is undoubtedly speed. You want to be able to quickly fund your casino account and cash out in full, without waiting around. This is exactly what crypto gambling facilitates, and DOT gambling is no exception.

thumb up iconIn other words, you will be able to pay in and cash out from the casino instantly. That is, once you make a deposit it will be no more than a couple of minutes until you see your money in your casino account. Similarly, on the flipside, when you go to cash out, you should see your money back in your digital wallet within a matter of minutes. This needless to say is a huge advantage over traditional withdrawal methods in particular, which can have processing times of three, or even seven days.

Back to FAQ

4.) Can I get a special Polkadot casino bonus?

With so few Polkadot casinos around, it is not surprising that we have yet to find any special DOT bonuses around.

That being said, if the casino does accept it as a payment method, in all likelihood, any bonuses it offers will also be relevant here. However, we strongly advise, if this is the case, that you read the bonus terms and conditions to make sure.

Similarly, most crypto casinos that we have come across these days have some sort of VIP or loyalty program. And if such a casino accepts DOT deposits, then most likely, it will also count such bets towards your VIP ranking and rewards.

cloudbet-loyalty-club-currencies-acceptedCloudbet Loyalty Club: All currencies are eligibleMoreLess

Join the Cloudbet Loyalty Club!

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5.) How and where can I buy Polkadot?

Like we mentioned above, you can technically mine for Polkadot by allotting computer power to the network. This would make it more or less free, beyond the energy expenses, which are relatively low for this particular coin.

currency-exchangeMore likely, however, if you are interested in acquiring it, you will do it the “old-fashioned” way and buy it on one of the crypto exchanges like Coinbase, Binance, or Bitpanda, and then manage your coins from the integrated wallet there.

Also, many casino operators these days make things even smoother for those making a last minute decision, allowing you to purchase crypto through an external service provider like MoonPay or Banxa, direct from the casino cashier.

Back to FAQ

6.) What is the Polkadot forecast?

The forecast for any currency, be it Bitcoin or US dollars, is the million dollar question. If any of us actually knew the answer to that, we would undoubtedly be rich. But the reality is, that not even the most seasoned traders are able to accurately predict where the market will go. And these days, with inflation and a wild stock market, it is even harder to guess – with ups and downs seemingly coming out of nowhere on any given day, and fluctuations easily reaching even double digits within those times.

smileyAs such, we cannot forecast Polkadot’s value, nor determine its trading potential, though it does seem to be relatively steady, and increasingly popular over time.

Back to FAQ

Our Expert Opinion on Polkadot Casinos

Although Polkadot is still relatively unknown in the iGaming industry, the high security standards and the innovative concept behind the protocol speak for themselves, with the Polkadot platform supplying smart solutions for the existing blockchain world.

checked iconAs such, even if no clear forecast can be made as to where its place on the market is going, or its ultimate value, it is quite conceivable that this digital coin will continue to grow in popularity across many areas and industries.

And should that happen, the iGaming industry we would imagine will quickly pick up on the trend, with more operators offering it as a currency option, to accommodate player preferences.

Since this will undoubtedly be an exciting development, as we are fans of this coin and its usefulness in online gambling, we will continue to keep an eye on DOT, and inform you directly about further developments. So stay tuned and let’s keep our fingers crossed that more Polkadot casinos are coming soon.

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References:

[1] https://polkadot.network/PolkaDotPaper.pdf
[2] https://www.bloomberg.com/news/articles/2022-02-02/polkadot-has-smallest-carbon-footprint-crypto-researcher-says

Author: Martin Hill
Last Update:
Article reviewed: Polkadot
Author Rating: 90%