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Gemini Adds Support For Blockchain Network, Polkadot (DOT)

Digital asset firm Gemini is pleased to announce support for Polkadot (DOT), which adds a new blockchain network to Gemini’s growing list of supported networks.

DOT is now available “for trading on [their] API/FIX and ActiveTrader applications for USD trading pairs, and on the Gemini Mobile App and website for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs.”

Adding Polkadot to their list of supported networks is “a major milestone on [their] journey to expand access to the vast crypto ecosystem.”

Polkadot enables “simplified” cross-blockchain transfers.

Going beyond simple coin transfers, Polkadot’s cross-chain system “supports a wide variety of data and asset transfers between different blockchains.”

Using Substrate, Polkadot’s blockchain development framework, engineers “can quickly create custom blockchains; and by connecting to Polkadot, external blockchains can leverage interoperability and advanced security architecture with simplified application development.”

Note: There is “a 1 DOT deposit minimum.” When withdrawing DOT from Gemini, “make sure that you withdraw to a DOT-compatible wallet address.”

With the addition of Polkadot, Gemini is now “compatible with 10 blockchain networks, including: Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Litecoin (LTC), Bitcoin Cash (BCH), Zcash (ZEC), Filecoin (FIL), Dogecoin (DOGE), and Tezos (XTZ).”

Gemini supports “more than 110 tokens.”

As noted in a blog post, Polkadot is “a multi-chain blockchain intended to facilitate interoperability between blockchains.”

It uses “a proof-of-stake consensus mechanism, which means it consumes a small fraction of the energy used by other blockchains.”

Polkadot was “developed by Gavin Wood, one of the original Ethereum founders and the developer of the Solidity programming language.”

The original whitepaper describes Polkadot as a “sharded version of Ethereum” in which any Polkadot-based chain can interact “without relying on third-party intermediaries.” DOT is “the native token on the Polkadot network, used for transaction fees, governance, interoperability, and bonding.”

In another update, Gemini revealed that they now support trading with Ethereum Chain (ERN).

ERN is now available for trading on their API/FIX and ActiveTrader applications “for USD trading pairs, and on the Gemini Mobile App and website for USD, GBP, EUR, CAD, SGD, HKD, and AUD pairs.”

As mentioned in the update:

“We believe supporting ERN will provide value to our users as we continue to support the growth of the decentralized finance ecosystem on the Ethereum blockchain. We look forward to continuing our support for new crypto projects on our mission to unlock the next era of financial, creative, and personal freedom.”

As explained in a blog post, Ethernity Chain is “an NFT marketplace that produces limited edition authenticated NFTs (aNFTs) and trading cards created by artists and notable figures on the Ethereum and Polygon networks.”

ERN is “an ERC-20 utility token that allows holders to bid on and purchase rare anNFTs and physical collectibles, as well as stake and participate in virtual and real-world experiences and events.”

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