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Polkadot and Kusama Published Details About Nominating and Validator Selection

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A new post by Jonas Gehrlein, Web3 Foundation research scientist, is published on the Polkadot blog to describe the nomination and validator selection on this blockchain. The decentralized system that is the backbone of Polkadot and Kusama relies on decentralized governance and node system. Jonas describes the system that manages to add new nodes to the blockchain.

How a Fully Decentralized System Works

Decentralized systems like Polkadot can’t be controlled by a single entity. They rely on networks of servers (nodes) that work together. The system isn’t based on the authority of a centralized organization but the network of operators that participate in managing the system based on some financial incentives. Every decision is made by the decentralized group, and they’re responsible for maintaining the network, too. The latest blog post on the Polkadot blog now describes the system that handles the addition of nodes to the blockchain.

Polkadot and Kusama have a Nominated Proof-of-stake protocol that determines who has the chance to act as a validator node. It calculates the active set of validators and somehow examines them. A crucial metric to calculate is the total amount of nominated stake that backs each node. The calculation sums the amount of staked assets by the validator node itself and the nodes that support it (nominators).

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Polkadot claims that the PoS protocol on this blockchain is somehow different from other networks. According to the post:

“Specifically, this protocol partitions all the nominators’ and validators’ stakes into a fixed number of stake pools – one per validator – so that the stake pool sizes are as evenly distributed as possible. In contrast to other proof-of-stake systems, this advanced mechanism guarantees proportional representation of minorities’ preferences, which improves fairness and further democratizes the process.”

The system behind Polkadot and Kusama is designed somehow that users of the network can take part in electing validators, too. As a result, they will have a direct influence on the whole network. The economic incentive in this system is aimed at rewarding good behavior and punishing bad one. Each nominator node will receive rewards or punishment like the validated one. In simple terms, if a nominator chooses a good behaving validator, it will receive reards and vice versa.

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The trust in the Polkadot and Kusama governance system is based on communication, reputation, and economic incentives. The economic-based trust is interesting because it makes it possible for nominators to decide the better validator even without knowing the identity or history. They can vote for a validator only by seeing the economic signals of that. It makes the voting system more efficient for newbie nominators. You can read the full detailed blog post about this system here.

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Polkadot price analysis: Bullish momentum faces break down at $43.6 level

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  • Price has receded down to $43.64.
  • Polkadot price analysis confirms bearish return.
  • Support is rigidly standing at $30.19.

The price is going down once again as the latest Polkadot price analysis is confirming the bearish comeback. The price has undergone a decline during the last 24-hours, as the bears interrupted the bullish current by bringing the price down. The price is now following bearish movement momentarily and has moved down to the $43.64 level in the last 24-hours. The bearish momentum has been trending in the last four hours as well.

DOT/USD 1-day price chart: Bears drag price down to $43.64 level after gaining strength

The bears are striving for reestablishing their position on the price chart as can be observed from the one-day Polkadot price analysis. Today, a bearish price movement has been observed as the DOT/USD price devalued to $44. Although the bulls have been reigning on the whole, the price has decreased during the day because of bearish momentum. The moving average (MA) for the day is standing at the $42.73 level.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 1

The volatility has been decreasing which is why the Bollinger band average is now at $39.06. Whereas the upper Bollinger band value is at $47.93 for now whereas the lower Bollinger band value is at the $30.19 position. The Relative Strength Index (RSI) score is yet to reach 70 and is still standing at 64.66.

Polkadot price analysis: Price decrements to $44 as downward trend continues

The four hours Polkadot price analysis shows that the bears have been at lead for the past few hours. The price has been falling down quite consistently with a few bullish price movements recorded here and there. The price has undergone a decline in the last hours as well and is now settled on the $43.64 mark. The moving average, on the other hand, is dictating its value at the $43.94 position.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 2
DOT/USD 4-hours price chart. Source: TradingView

A crossover between SMA 50 curve and the SMA 20 curve was recorded earlier, which is another confirmation of a downtrend. The Bollinger bands indicator is showing the following values in the four hours price chart; the upper value is $45.59 whereas the lower value is $42.3. The RSI score is at a quite average position and is at 51.22.

Polkadot price analysis: Bullish momentum faces break down at $43.6 level 3
DOT/USD technical indicators chart. Source: TradingView

The overview of cryptocurrency progress shows promising results which is why the technical indicators chart for DOT/USD is going bullish. There are 15 indicators settled on the buying mark, nine indicators on the neutral mark, and two indicators on the selling mark.

The moving averages indicator is displaying favorable results for the buyers as well as it is giving a strong buy signal for the day. A total of 13 indicators are there on the buying position while one indicator each is sitting on the selling and neutral positions. The Oscillators, on the other hand, are showing neutrality with eight oscillators at the neutral position, two oscillators at buying position, and one oscillator at the selling position.

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Polkadot price analysis conclusion

The one-day, as well as the four hours Polkadot price analysis, is showing slightly unfavorable results for the cryptocurrency. That is because the price has covered downward movement during the day and has undergone a decline up to the $43.6 level. It can be expected that the price will go down even further as the bears have been dominating for the last four hours as well.

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This Is How Polkadot(DOT) Price May React After Hitting $50!

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The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice
Source: Tradingview

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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This Is How Polkadot(DOT) Price May React After Hitting $50!

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The crypto space is consolidating heavily for the consecutive second day showcasing a bearish trend. Most of the major assets are forming constant lower lows after a steep plunge. However, some altcoins like Polkadot is undergoing a reverse trend and attempting to reach the current highs. As the DOT price ranges above $50, the path towards a three-digit figure may get feasible. 

After the recent reversal, the asset managed to trend within a rising wedge since the beginning of the current trading month. Initially, the asset hit the strong resistance levels at $38 and successfully sliced through these levels after a slight pullback. However, the price is currently an inch close to forming a new ATH.

dotprice

Despite the price is surging and forming more higher highs, yet the fear of a bearish divergence still hovers the rally. The appears to be trending within a rising wedge which usually ends up in a slight pullback. The correction could either end with a notable rebound from the immediate trend line, else it could hit the strong support levels at $40. 

However, the Polkadot price tends to reverse the trend in order to flip the bearish divergence soon. One of the popular analysts, FieryTrading, DOT price after forming a new ATH may not stop surging. The price currently resides at 1 Fib level and 2 Fib levels from beyond $100 at $120. And hence the target for Q4 maybe somewhere around $100.

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