CoinLoan added support for Polkadot
We are excited to announce that Polkadot (DOT) is now available on our platform. DOT is in the top 10 by cap, so we hope you will like the update!
What is Polkadot
Polkadot is an open-source project founded by the Web3 Foundation. It allows tokens and arbitrary data transfer across blockchains. DOT can transfer this data across public, open, permissionless, permissioned and private blockchains.
In PoW and PoS systems blockchains compete over resources to secure their networks, and blockchains can be attacked easily until they develop a significant community to support their network. DOT uses NPoS (Nominated Proof of Stake), where nominators back validators with their stake. That makes a security model better - nominators can lose their stake if a bad validator receives their backing.
What can you do with DOT on CoinLoan
Instant Loan: Use DOT as a collateral for taking out loans in EUR, GBP, BTC, WBTC, USDT, USDC, BUSD, TUSD, and PAX.
Crypto Exchange: Buy and sell DOT at a competitive rate.
Stay tuned, more amazing updates are coming soon!