According to a hot announcement, Coinbase is preparing to list an altcoin project backed by Polkadot founder Gavin Wood.
Coinbase opens “experimental asset” listing for new altcoin
Coinbase shared its listing plans for the highly anticipated Vara Network (VARA). Vara Network is a Layer 1 Blockchain backed by Polkadot founder Gavin Wood and developed in collaboration with the Gear Foundation. This development comes a day after Vara Network’s mainnet launch. The announcement immediately changed the risk appetite of the altcoin market in particular.
Coinbase will add support for Vara (VARA) on the Vara network. Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported.
— Coinbase Assets 🛡️📞 (@CoinbaseAssets) September 20, 2023
Thanks to this support, VARA will soon begin to be traded with USD via Coinbase. However, according to the information stated, these transactions will be possible if the altcoin reaches sufficient supply. As sufficient supply is ensured, the VARA-USD trading pair is gradually opened for transactions. This represents a big step for the altcoin project. It prepares new opportunities for investors.
Watch out for September 21
If the liquidity conditions in the market are met, it is possible for transactions to start later on September 21. This is big news for altcoin investors, as Vara Network’s potential is quite high. With the support of Gavin Wood, this network is poised to become an important part of the Polkadot ecosystem.
VARA, backed by Gavin Wood, made a strong debut
In collaboration with Gear Foundation and with support from Polkadot founder Gavin Wood, Vara Network launched mainnet today. Vara Network increases processing speed, especially by using the Actor model and permanent memory technologies. According to the details in the official announcement:
This platform simplifies the migration from Web2 to Web3 with user-friendly features, leveraging concepts like Actor Model and Persistent Memory to increase speed and eliminate lags. It empowers developers in gaming, finance, and more by providing parallel processing and individual memory spaces for smart contracts.
About Vara Network
Vara solves historical problems such as limited throughput and slow processing. Developers can create games directly on the Blockchain. This innovation transforms the gaming experience by eliminating dependence on traditional backend servers. Some of the other features of the altcoin project:
- Robust operations and scalability. Vara leverages the Gear Protocol technology stack to meet growing demands.
- Smart contracts powered by Substrate’s framework: A secure runtime and sandbox execution environment for smart contracts.
Vara also offers a range of features to tailor your games to every need. These are native asynchronous, checkoutless transactions, oracle solutions, and self-executing messages. Contracts can create new contracts and actions, such as factories. They can create in-game items such as characters, items, quests, or game levels into separate contracts. The altcoin project stands out from its competitors with these features. cryptokoin.comYou can follow the latest developments on our social media accounts from the Coinbase list we provide as.
