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Web3 Foundation partners with Coinbase Custody and allows Polkadot investors to start claiming their DOT tokens

Web3 Foundation partners with Coinbase Custody and allows Polkadot investors to start claiming their DOT tokens

Earlier at the moment, the Web3 Foundation introduced it partnered with Coinbase’s custody subsidiary to provide a custody answer for Polkadot’s native token, DOT. Institutional investors that participated in Polkadot’s earlier token gross sales can now declare their DOT allocations with their current Coinbase Custody accounts. The Web3 Foundation concurrently launched a devoted web site that lists just a few different claims processes for these investors with out a Coinbase Custody account.

Why it issues:
Polkadot mentions this is step one in its mainnet rollout. Polkadot’s launch sequence may mimic that of its canary community, Kusama, the place early levels function a Proof-of-Authority (PoA) consensus mechanism and restricted on-chain performance. Subsequent variations will introduce extra utility by staking, on-chain governance, and parachains.
Polkadot is one among a number of initiatives selling cross-network communication. But some argue these cross-chain options solely matter if a number of networks generate important person exercise. The multi-chain fans vs. skeptics debate ought to stay a related theme all through 2020 as these interoperability options proceed to roll out.

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