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News

Layer 1 Vara Network Will Be Supported By Coinbase

September 20, 2023 - Around 2 mins mins to read

Key Points:

  • Coinbase adds Vara (VARA) to the Vara Network, with trading coming soon, but some location restrictions apply.
  • Vara Network’s mainnet, with Gear Protocol and Gavin Wood’s support, offers faster on-chain gaming.
  • Gear Protocol simplifies smart contract deployment in Polkadot, debuting publicly in August 2021.
Coinbase, one of the leading cryptocurrency exchanges, is set to introduce support for Vara (VARA) on the Vara Network, with trading expected to commence today, pending liquidity conditions.
Layer 1 Vara Network Will Be Supported By Coinbase
Layer 1 Vara Network Will Be Supported By Coinbase 2

The listing will feature a VARA-USD trading pair and come with certain geographical restrictions on the exchange. Coinbase is the first exchange to support the Vara Network.

The Vara Network, a decentralized Layer-1 network, has unveiled its mainnet, boasting support from Polkadot founder Gavin Wood and powered by the Gear Protocol. This development introduces innovative concepts like the Actor Model and Persistent Memory to enhance speed and reduce latency. Furthermore, it implements parallel processing and distinct memory spaces for smart contracts, facilitating development across various sectors, including gaming and finance.

Vara Mainnet effectively addresses long-standing issues of limited transaction throughput and slow processing. Notably, developers can now construct games directly on the blockchain, eliminating the need for traditional backend servers. This transformative shift promises a gaming experience characterized by seamless, on-chain gameplay, thanks to parallel processing enabling simultaneous transactions.

In the broader context of the Polkadot ecosystem, Gear is forging a network for hosting smart contracts, opening doors for dApp deployment on Polkadot and Kusama at a reduced cost. Gear’s approach streamlines the smart contract creation process, making it accessible to a wider range of developers without the complexities of building an entire blockchain network from scratch.

The Gear project’s public debut dates back to August 2021, with plans for the main network launch and the release of an official white paper in February 2022, further solidifying its role in advancing blockchain technology and dApp development.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Coinbase

Gear Protocol

layer 1

Polkadot

VARA

Vara Network

Avatar of Harold

Author

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.
News

Layer 1 Vara Network Will Be Supported By Coinbase

Key Points:

  • Coinbase adds Vara (VARA) to the Vara Network, with trading coming soon, but some location restrictions apply.
  • Vara Network’s mainnet, with Gear Protocol and Gavin Wood’s support, offers faster on-chain gaming.
  • Gear Protocol simplifies smart contract deployment in Polkadot, debuting publicly in August 2021.
Coinbase, one of the leading cryptocurrency exchanges, is set to introduce support for Vara (VARA) on the Vara Network, with trading expected to commence today, pending liquidity conditions.
Layer 1 Vara Network Will Be Supported By Coinbase
Layer 1 Vara Network Will Be Supported By Coinbase 4

The listing will feature a VARA-USD trading pair and come with certain geographical restrictions on the exchange. Coinbase is the first exchange to support the Vara Network.

The Vara Network, a decentralized Layer-1 network, has unveiled its mainnet, boasting support from Polkadot founder Gavin Wood and powered by the Gear Protocol. This development introduces innovative concepts like the Actor Model and Persistent Memory to enhance speed and reduce latency. Furthermore, it implements parallel processing and distinct memory spaces for smart contracts, facilitating development across various sectors, including gaming and finance.

Vara Mainnet effectively addresses long-standing issues of limited transaction throughput and slow processing. Notably, developers can now construct games directly on the blockchain, eliminating the need for traditional backend servers. This transformative shift promises a gaming experience characterized by seamless, on-chain gameplay, thanks to parallel processing enabling simultaneous transactions.

In the broader context of the Polkadot ecosystem, Gear is forging a network for hosting smart contracts, opening doors for dApp deployment on Polkadot and Kusama at a reduced cost. Gear’s approach streamlines the smart contract creation process, making it accessible to a wider range of developers without the complexities of building an entire blockchain network from scratch.

The Gear project’s public debut dates back to August 2021, with plans for the main network launch and the release of an official white paper in February 2022, further solidifying its role in advancing blockchain technology and dApp development.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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