Polkadot network custody launched by Coinbase and Web3

Polkadot network custody launched by Coinbase and Web

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A Polkadot network custody solution built by Coinbase Custody and Web3 Foundation is now ready to subscribe. Coinbase Custody offers top-notch crypto asset custody solutions to its clients. Polkadot, a scalable sharded chain, delivers a safe platform for cross-chain composability pertaining to several protocols and apps.

The newly developed Polkadot network custody will provide entities and individuals with DOT allocations using Coinbas Custody. The clients can thus redeem their respective holdings directly into their accounts. DOT is Polkadot’s native token. This can not only increase efficiency but also boost the security quotient of the Polkadot network custody.

Polkadot network custody will help cut down security and storage costs

The underlying Coinbase Custody will be highly beneficial to the customers who will take advantage of its world-class security, advance staking, ease-of-use features, and proven token management interface.

Web3 Foundation has also announced a website so that the clients can claim their DOTs by following a detailed set of instructions. The pre-launch Polkadot token allocation can also be claimed as per Ethereum network denotation into their respective Polkadot addresses. The inherent claims process is transparent and makes sure that DOT allocation is inscribed in the genesis block of Polkadot.

Coinbase claims that Polkadot is a revolutionary crypto project. It solves the crypto industry’s biggest problems namely scalability and interoperability. Coinbase Custody is excited to offer DOT holders an efficient and secure way to perform staking and manage their tokens as well.

Coinbase Custody going places with new collaborations

Coinbase Custody is offering much more than just safe storage solutions. Its staking services ensure that DOT holders can earn rewards when they stake behind validators who safeguard Polkadot. The same users can also take advantage of the on-chain governance mechanism that provides improved protocols and upgrades. There is also a tool to verify Ethereum addresses linked with the DOT allocation indicator.

As Polkadot genesis comes near, the company focuses on secure and efficient solutions. The Polkadot network custody solution promises to bring more transparency, efficiency, and security into the crypto custody realm.

Featured Image by Pixabay

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Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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