OKEx has listed the native token of Polkadot (DOT) on its buying and marketing platform.
According to an announcement shared with Cointelegraph on July 17, DOT spot buying and marketing towards Tether’s USDT stablecoin on OKEx began at 8:00 AM UTC immediately. As Cointelegraph just late reported, Pokadot’s expertise permits builders to spin up a brand new blockchain inside one hour.
Per the announcement, DOT deposits and withdrawals aren’t supported but, and the tokens can now exclusively be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx in addition just late printed an deep information on the best way to declare the Ethereum-based ERC20 DOT tokens to Polkadot’s mainnet in a manner that makes them accessible on the alternate.
OKEx introduced no date for the launch of DOT withdrawals and deposits. Still, the alternate secure they are going to be launched aboard extra DOT buying and marketing pairs inside the roughly future.
Bringing interoperability to blockchains
The announcement explains that Polkadot is the primary venture of Switzerland-based Web3 Foundation, and it goals “to connect private and pool blockchains, public and permissionless networks, oracles, and even future technologies that are yet to be created.” OKEx CEO Jay Hao defined that such a system is far wanted inside the ecosystem:
“One of blockchain’s biggest issues still stiff interoperability and Polkadot will play a key role in allowing all kinds of blockchains to talk to each other, transact, and exchange data. Since Polkadot allows for cross-blockchain transfer of all types of data and not just tokens, it will hold an important role in the crypto ecosystem preparing for the next web.”
Hao in addition explicit that whereas he doesn’t calculate us to maneuver to a decentralised cyberspace in a single day, he believes “we will start seeing increasingly decentralised applications.” Furthermore, he expects that cryptocurrency will play an big function on this future web. He defined:
“As societies move away from cash and real-world assets are eventually brought onto the blockchain like stocks, gold, real estate, etc. crypto will be used increasingly as a simple way of transferring value to any device and more projects like Polkadot will allow us to transfer all types of data firmly and trustlessly greatly speeding up the current bureaucracy we accept today.”