When we talk about Ramp, we often say that we work on making banks and blockchain interoperable. Bridging two separate ledgers is not always easy - especially when there are so many foundational differences between the old and the new worlds. But we want them to cooperate in the long run.
In this sense, there's a lot we share with the amazing team at Polkadot & Web3 Foundation - a common goal of supporting developers in building beautiful, customised and cooperating use-cases in crypto. We're tremendously happy to announce Ramp has just become a part of this ecosystem!
One blockchain to rule them all
Fragmentation brings variety and choice to the crypto world, but also means that huge barriers for innovation exist. Most of current blockchains don't really work together in any meaningful capacity and implementing new ideas often requires making entirely new chains. Quite a bit of work added for no particular benefit.
Polkadot tries to create a master blockchain - a chain from which so-called parachains emerge to offer different tokens and services. Makes of solutions using crypto (for example, games) will only need to select 1 or many parachains instead of creating their own.
Polkadot quite clearly communicate that they do not want to overtake Ethereum, rather to help it popularize & organize smart contract in general. Under the hood, both use Web Assembly, which creates possibilities for interoperability between them as well. In future this may result in some interesting bridge applications or ways to transform smart contracts from Ethereum to Polkadot. This gives Polkadot a lot of potential: many well-known & loved Ethereum solutions will most likely appear on Polkadot.
Connecting the DOTs
Polkadot is the sharded protocol that enables blockchain networks to operate together. A part of it is the DOT token, which serves three distinct purposes: governance over the network, staking, and bonding. Side by side to Polkadot runs Kusama, a scalable multi-chain network for radical innovation and early stage Polkadot deployments with its own native currency, KSM.
DOTs and KSMs have been listed on a number of crypto exchanges, but it used to be quite difficult to get a hold of them. Or, so was the case until recently.
Polkadot and Ramp
Enabling blockchain innovation, true scalability and ease of use is a major part of Ramp's mission. By allowing users to purchase crypto for fiat, we put our brick into this common house. For the users, we enable super easy ways to buy DOT and KSM with their preferred payment method at best prices. For the builders, we present the almighty Ramp SDK which lets you plug into fiat in minutes, improve the feature set and monetise the flow!
Do you want to build on Polkadot with us? Check out the docs and schedule a call with our Partnerships Team below!