Cryptocurrencies – FinanceBrokerage
Coinbase has added Polkadots Dot to its platform
This week, Coinbase cryptocurrency exchange added Polkadot’s native token to its cryptocurrency trading platform. This decision will compound the bull case that many investors are already seeing for the Ethereum network’s closest rival. It is one of the largest cryptocurrencies in the world. It is currently the ninth largest cryptocurrency with a market capitalization of more than $ 20 billion.
Polkadot (period) is a protocol that enables cross-blockchain transfers of any type of data or asset. Galvin Wood, the creator of the first version of the Ethereum network, created Polkadot.
By combining several blockchains, polkadot tries to achieve a high level of security and scalability. Dot serves as the governance token of the protocol and is also used for staking, to secure the network or to connect new chains (“bond”).
Polkadot is also available on the cryptocurrency exchange’s Android and iOS apps. Customers have the ability to trade, send, receive and save in Coinbase regions except Singapore.
In addition, Coinbase Pro supports trading in this asset. It started accepting point transfers from users on June 14th. Coinbase Pro also supports many interesting cryptocurrencies.
Polkadots Kusama Council
On Tuesday, the Polkadot Council of Kusama passed Motion 310, which confirmed the start of the first slot auction on the Kusama network. These slots determine the parachains that will be added to the Kusama relay chain. Kusama acts as a Canarian network for polkadots which, according to Gavin Wood, is helping to secure polkadots by allowing functionality to exist in the wild for as long as possible.
Gavin Wood released a tentative schedule for the Kusama slot auctions on June 8th. According to its original schedule, the first slot will last over five days, with the first two days allowing tentative bidding.
A winner should come out on June 22nd at 11:00 UTC, with the second slot starting an hour later. Overall, he proposed the first set of five consecutive slot auctions over five weeks, followed by a temporary break to assess network performance.
The post Coinbase Added Polkadot’s Dot to its Platform first appeared on FinanceBrokerage.