How many polkadot coins are there?

Polkadot, unlike bitcoin and ether, has no maximum supply. Is it worth a spot purchase?

Polkadot logo                                 
Polkadot has adopted an inflationary model, aiming for a 10% rise annually – Photo: Shutterstock
                                

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For those looking to gain a deeper understanding of the economic principles which govern the Polkadot network, an important question is: how many polkadot coins are there? 

DOT is the native token of the Polkadot network. The project, a sharded multichain network, works slightly differently from Ethereum and Bitcoin, because it is secured by what is called a "nominated proof-of-stake" mechanism (NPoS). The polkadot coin also has no maximum supply. 

How many Polkadot tokens are there? 

According to CoinGecko, there is a circulating supply of 1.079 billion DOT coins.

The protocol’s currency underwent a redenomination in late August 2021. But what does this mean? And how does this affect how many DOT coins there are in the world? 

Just as Bitcoin has Satoshis, Polkadot’s smallest unit of account is called Planck. Before the redenomination, one DOT was equal to 0.00000000001 (one hundred-millionth) of a Planck. As a result of the redenomination, one DOT is equal to 0.0000000001 (one ten-millionth) of a Planck.

In other words, DOT was previously denominated to 11 decimal points, while now it is denominated to 10 decimal points. The redenomination has not changed the proportional value of the coin. The choice was made to redenominate DOT coins in order to avoid using small decimals and to make calculations easier. 

How many DOT coins are there in circulation? 

There is no maximum supply. DOT is inflationary. Inflation is meant to rise 10% annually, according to the Polkadot website.

The inflationary model incentivises holders of DOT to stake their coins – if they don’t, the value of their tokens falls over the longer term. A high staking rate of 50% helps stabilise the network and create liquidity. 

No, polkadot has an unlimited supply. 

You cannot mine polkadot coins, as the network adopts a proof-of-stake consensus mechanism. 

There is no maximum supply of polkadot coins. 

There is no limit to the supply of polkadot coins, meaing there is an unlimited amount of polkadot coins left to stake. 

Further reading

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