Polkadot is a multi-chain Layer 0 network that connects different blockchains, enabling them to share information and work together. It's designed to improve scalability and interoperability in the blockchain space. DOT is Polkadot's native cryptocurrency, used for governance and bonding to secure the network.
The unique architecture used to build Polkadot allows for the creation of specialized blockchains called parachains, making it a hub for innovative decentralized applications. Examples of infamous parachains include Centrifuge and Efinity.