OKEx has listed the native token of Polkadot (DOT) on its buying and selling platform.Based on an announcement shared with Cointelegraph on July 17
OKEx has listed the native token of Polkadot (DOT) on its buying and selling platform.
Based on an announcement shared with Cointelegraph on July 17, DOT spot buying and selling in opposition to Tether’s USDT stablecoin on OKEx began at 8:00 AM UTC immediately. As Cointelegraph lately reported, Pokadot’s know-how 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 at present solely be obtained by claiming them on the mainnet from Ethereum’s blockchain. OKEx additionally lately revealed an in depth information on the right way to declare the Ethereum-based ERC20 DOT tokens to Polkadot’s mainnet in a method that makes them out there on the alternate.
OKEx introduced no date for the launch of DOT withdrawals and deposits. Nonetheless, the alternate promised they are going to be launched alongside extra DOT buying and selling pairs within the close to future.
Bringing interoperability to blockchains
The announcement explains that Polkadot is the primary challenge of Switzerland-based Web3 Basis, and it goals “to attach personal and consortium blockchains, public and permissionless networks, oracles, and even future applied sciences which can be but to be created.” OKEx CEO Jay Hao defined that such a system is far wanted within the ecosystem:
“Certainly one of blockchain’s largest points nonetheless stays interoperability and Polkadot will play a key function in permitting every kind of blockchains to speak to one another, transact, and alternate knowledge. Since Polkadot permits for cross-blockchain switch of all varieties of knowledge and never simply tokens, it’s going to maintain an vital function within the crypto ecosystem getting ready for the following net.”
Hao additionally stated that whereas he doesn’t anticipate us to maneuver to a decentralized net in a single day, he believes “we’ll begin seeing an increasing number of decentralized purposes.” Moreover, he expects that cryptocurrency will play an enormous function on this future web. He defined:
“As societies transfer away from money and real-world property are finally introduced onto the blockchain like shares, gold, actual property, and so on. crypto can be used an increasing number of as a easy method of transferring worth to any system and extra tasks like Polkadot will enable us to switch all varieties of knowledge securely and trustlessly vastly dashing up the present forms we stay with immediately.”