DOT is the name of the Polkadot coin, the cap is set at 1,1 billion and there are currently 1 billion in circulation. Anyone who purchases DOT can use their coins to propose changes to the network and approve or reject major changes proposed by others. Users who stake DOT and perform these roles are also eligible to receive rewards. In other words, DOT is also a tool that facilitates the consensus mechanism of the chain.
Written by SafelloUpdated over a week ago