Many blockchain developers think Polkadot’s Substrate will be a milestone in the history of cryptocurrencies since it solves the long-standing interoperability problem. Polkadex is an example of a solid application of Substrate. For those not familiar with Polkadex, it is a Substrate-based blockchain with Polkadex DApps built on it. The Polkadex network connects to other blockchains through cross-chain bridges allowing tokens to move from one blockchain to another, which has a positive impact on the overall interoperability of Polkadex.
The Polkadex team recently launched a Testnet, and now they are making the switch to Mainnet. What is remarkable about the launch of this Mainnet is the well-known difficulty of developing a blockchain using Polkadot’s Substrate, which is way more intricate than just using Ethereum’s network. So, the launch of Polkadex Mainnet will be proof that blockchain development is possible with Substrate; although it might be difficult, it is worth the effort.
Polkadex runs on the existence of nominators and validators in its network. That is why, like most main blockchain projects, they offer a staking option for PDEX holders. This way, users will be able to earn money by keeping PDEX in their wallets. By staking your PDEX, you make the Polkadex network more resistant to attacks and contribute to its ability to process transactions. Ideally, half of all PDEX will stay staked in the Polkadex network. When the network gets secure enough, Polkadex will incorporate its DApps (Polkadex Orderbook, Polkapool, PolkaIDO) into the network and attain its complete product.
If you are curious about how Polkadex Testnet worked out, I highly recommend reading this article [1]. I believe that you will show interest in this great project, so I am leaving this Medium publication [2] where the Polkadex team explains how you will run a validator node.
Links: https://polkadex.medium.com/testnet-update-tokenomics-integration-7a76fdb3e42
https://medium.com/polkadex/polkadex-testnet-how-to-run-a-validator-node-eb68b2e6bec
Coinmarketcap – https://coinmarketcap.com/currencies/polkadex/
