Polkadot (DOT) finally launched on CoinbasePro

  • CoinbasePro has officially launched Polkadot (DOT), and will be available for trade starting from June 16.
  • Polkadot is on its last piece of core functionality, the parachains promised in the Polkadot whitepaper.

Coinbase has once again announced the launching of another fast-rising cryptocurrency, Polkadot, soon after making Dogecoin available for trade. According to the official report, trading will begin on Wednesday, June 16 on or after 9 am Pacific Time when trading conditions are met. 

Trading on DOT-USD, DOT-BTC, DOT-EUR, DOT-GBP, and DOT-USDT would be established in three phases once sufficient supply is available. The stages will be post-only, limit-only, and full-trading. For now, inbound transfers for DOT would be accepted to CoinbasePro. Users of Coinbase.com and the consumer’s mobile app will not be able to trade in DOT for now. 

Brian Armstrong, the CEO of Coinbase recently revealed that the company would accelerate the rate at which assets are reviewed and added to the site. 

We’re quickly going to be in a world where there’s so many that we’re not going to be able to keep up unless we accelerate that process.

He also mentioned that its competitors are currently adding assets with large trading volumes and growing market caps which they currently do not support. Polkadot, for instance, has had a rising demand with a lot of projects in the pipeline.

Polkadot ecosystem fast-growing

Polkadot is a protocol that ensures that cross-blockchain transfers for any type of data or asset are enabled. It was basically established to attain a high degree of security and scalability. Currently, Polkadot is on its last piece of core functionality, the parachains promised in the Polkadot whitepaper. It will soon be ready for launch on Polkadot and will be enabled through on-chain governance. This is after the project has gone through testing, optimization, and auditing. They are currently in the Kusama Rollout and the Slot Auction under this phase. Kusama will serve as an additional proving ground for parachains. 

Kusama governance will first vote to enable parachain functionality via runtime upgrade. After that, it can vote to begin slot auctions and to add any common-good parachains.

Its upgrades are also under development including the upgrade to the  Cross-Chain Message Passing (XCMP), and the launch of parathreads. 

The Polkadot ecosystem is fast growing as its vision has appealed to several projects. IOST, the Proof-of-Believability Smart Contract platform recently announced to have partnered with Polkadot to promote its cross-chain interoperability. 

In addition, the Graph earlier announced a partnership deal with Polkadot to enable developers to build a powerful protocol on its platform.

This will support developers in building powerful applications on Polkadot using The Graph, as well as enable developers from all supported ecosystems to explore querying subgraphs.

The asset has reacted to the CoinbasePro listing with a 9 percent surge in the last 24 hours, and a trading volume of $3 billion. DOT is currently trading at $24. 

About Author

John's a cryptocurrency and blockchain writer and researcher with years of experience. He has a lot of interest in emerging startups, tokens, and the invisible forces of demand and supply. He holds a Bachelor's degree in Geography and Economics. My Email: (kojokumijohn@gmail.com)

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