Polkadot

About

Polkadot is a Layer 1 blockchain project centered around the DOT token. Announced in June 2022, the protocol is set to overhaul the existing framework so that the network will become more entrenched in the decentralization ethos. The team argued that the current governance system has elements of centralization. For example, the Polkadot Council, a body of executives, had sole control over some decision-making processes, including how the network's treasury is spent.