Polkadot sustained being the leader in terms of the Nakamoto Coefficient DOT’s volatility remained low as daily fees on the Kusama network hit highs Polkadot [DOT], like many other cryptocurrencies, had a torrid 2022 in terms of its value and market capitalization. However, there was one aspect where the troubled protocol excelled, and managed to […]
Contextually, a high Nakamoto Coefficient provides security for crypto networks against manipulation. With the coefficient at 62, it meant Polkadot validators were actively ensuring full blockchain functionally while obstructing network compromise.
Polkadot was also on top of the ranking on 18 September but at that point, the Nakamoto Coefficient was a whopping 82. This implied that it was one of the few projects with an aim towards complete decentralization.Polkadot has been notorious for providing infrastructure for other chains via its multi-chain network, Kusama. In 2022, it has been no different.
This meant that the Polkadot’s commitment to upgrades was deflated although not as low as it was on 20 December.Concerning its foray into NFTs, DOT’s performance was nowhere close to its apex. According to Santiment, the NFT trades volume was $85,000 at press time. Consequently, it indicated reduced interest in scooping assets linked to the Polkadot ecosystem.For the time being, the lack of NFT accumulation could not halt a spike in fees used in DOT transactions.
Hence, DOT transactions, coupled with other networks it hosted on its parachain, were incredibly active.👉 Fees are forming an ascending chart and breaking out strongly in the last days of the month
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