Polymath: Blockchains in the ether

Polymath: Blockchains in the ether

This is a guest post for the Computer Weekly Developer Network written by Adam Dossa in his role as chief technology officer at Polymath — the company is known for its technology that provides a route to create, issue and manage digital securities on blockchain.

Token Studio from Polymath is a self-service application that allows users to create, issue and manage security tokens through a simple interface.

Dossa writes as follows…

Blockchains in many ways present the ultimate ‘serverless infrastructure’ – whilst first-generation blockchains (i.e. Bitcoin) focused primarily on securing a limited state (i.e. the ledger which holds each wallets Bitcoin balance), subsequent generations have shifted focus into securing both generalised state and business logic (i.e. smart contracts).

New-generation blockchain In these newer generations of blockchain (i.e. Ethereum, Polymesh), the blockchain acts like a global trusted computer (or virtual machine) that allows arbitrary code storage and execution within some computational bounds. Whilst these computational bounds mean that smart contracts on blockchains are not technically Turing complete, in practice for developers used to working within other similar bounds (i.e. hardware or computational time/storage space limitations) this presents a low barrier to entry for new development. By presenting a unified execution layer it brings with it composability guarantees at the base layer, which is a novel situation for the technology section. Protocols such as ICP take this to the next level by incorporating containerisation (or as they call it, canisters).

Deploying on-chain Taking Ethereum as an example, smart contracts (effectively small bundles of code and state) deployed on-chain provide both a guaranteed interface and behaviour that is both transparent (anyone can view the code which is being executed and inspect the corresponding state) and censorship free (anyone can interact with the smart contract). This has led to an explosion in innovation and experimentation in primarily financial protocols on blockchains. By shifting financial infrastructure from heavily siloed and permissioned infrastructure, typically run by large institutions, towards a distributed and permissionless public good, companies and organisations have been able to leverage and build upon financial primitives deployed by other parties. Blockchains again allow novel and innovative approaches here, for example with liquidity pools rewarding liquidity providers (LPs), regardless of whether those LPs are injected via another protocol, or directly. With individual protocols providing differentiated DeFi ‘Lego blocks’ (e.g. stable coins, lending protocols, liquidity, flash loans) there is lots of room to rapidly get to market by re-using existing components, and their attendant adoption (e.g. liquidity), rather than each protocol needing to build from scratch. It should be noted that this degree of composability doesn’t come without its own problems. An alternative view of smart contracts and public financial primitives as Lego building blocks would be a house of cards, with each protocol only being as secure and bug-free as the sum of its underlying components that it has leveraged. We’ve seen this exploited many times in the blockchain ecosystem, with new protocols failing to account for all of the possible permutations of both their own logic, as well as the third-party ‘lego’ blocks they’ve built upon.

Oasis Pro Inc. Increases Collaboration with Polymath as the Newest Node Operator on its New Blockchain Polymesh

TORONTO, June 23, 2021 /PRNewswire/ – Oasis Pro Inc. (Oasis), majority owner of Oasis Pro Markets , the first US-regulated Alternative Trading System (ATS) authorized to allow users to trade digital securities and make payment for those securities with digital cash, is joining the expanding network of node operators on Polymesh, a blockchain purpose-built by Polymath (currently in testnet phase) specifically for security tokens. This comes shortly after the two companies announced the establishment of international consortium transfer agency 1transfer LLC in conjunction with various other technology leaders from Alternative Trading Systems (ATS), broker-dealers, cryptocurrencies, and fintech.

Toronto-based software company Polymath built the Polymesh blockchain after recognizing five major barriers preventing blockchain’s full entry into the regulated financial industry: governance, identity, confidentiality, compliance, and transaction finality. Polymesh overcomes these barriers to meet the needs of regulated capital markets through key design principles built into the chain at protocol layer. Polymesh is a permissioned blockchain that requires node operators to be known, verified, and trusted capital markets participants like Oasis.

“Security tokens have immense potential to transform capital markets. Polymath stands at the forefront of influential security token technology by building blockchain infrastructure that captures the transformative power of the chain, while meeting capital markets requirements not traditionally met on public blockchains,” said Pat LaVecchia, CEO of Oasis. “As a permissioned blockchain specifically for securities, Polymesh is an attractive alternative that brings the benefits of blockchain, transparency and efficiency, while overcoming problems of compliance and confidentiality seen on public chains.”

Oasis Pro Markets is the first US-regulated ATS for raising capital via digital securities with a secondary trading platform authorized to allow users to trade digital securities and make payment in digital cash (i.e., stable coins or central bank digital currencies) in addition to fiat. The company’s mission is to bridge the world of traditional finance and decentralized finance and lead in digital securities innovation by leveraging blockchain and smart contract technology to expedite the transfer and settlement of assets.

“We’ve been working alongside Oasis to standardize and streamline digital transfer services and are excited to collaborate further on Polymesh to foster institutional adoption of security tokens,” said Chris Housser, Interim CEO of Polymath. “Polymesh has been carefully designed to handle regulated assets efficiently while ensuring compliance and reputable node operators like Oasis are an important part of the picture.”

About Oasis Pro Markets

Oasis Pro Markets is the first US-regulated trading system (ATS) authorized to allow Subscribers (including broker-dealers, institutions, and accredited investors) to trade digital securities for digital cash. We are positioned at the forefront of digital securities innovation by leveraging blockchain and smart contract technology to expedite the transfer and settlement of assets. Oasis Pro Markets' mission, as a full-service investment bank, is to bridge the world of traditional finance and decentralized finance, “DeFi,” and to become the leading platform for the trading of public and private multi-asset digital securities globally.

About Polymath

Polymath makes it easy to create, issue, and manage security tokens on the blockchain. More than 200 security tokens have been deployed using our Ethereum-based solution and we are now in the midst of launching Polymesh, an institutional-grade blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving the inherent challenges with public infrastructure around identity, compliance, confidentiality, and governance.

Watch this 2-minute demo to see the process of issuing a token on our new purpose-built blockchain, Polymesh, in action, or visit https://polymath.network to learn more.

Polymath is not a broker-dealer, funding portal, trading platform or otherwise engaged in the business of trading in securities or providing advisory services regarding the issuance, buying or selling of securities. Polymath is not making any recommendation or giving any advice with respect to any company or proposal discussed in this communication.

Media Contact:

Rachel Kuper

+1 (647) 457 5197

[email protected]

SOURCE Polymath

Polymath Network Cryptocurrency Over 36% Up In The Last 14 Days

(VIANEWS) – Polymath Network (POLY-USD) Cryptocurrency is currently on bullish momentum by 36.48% in the last 14 days. At 00:10 EST on Sunday, 11 July, Polymath Network (POLY-USD) is at $0.19.

Volume

Today’s last reported volume for Polymath Network is 5906869, 38.06% below its average volume of 9536701.94.

All-Time High and Low

Polymath Network’s current value is at $0.19, 87.86% below its all-time high of $1.59 on Tuesday, 20 February.

Polymath Network’s current value is at $0.19, 1656.18% above its all time low of $1.59 on Friday, 13 March.

Market Cap and Supply

Polymath Network’s current market cap is 165556229.

Polymath Network (POLY-USD) Range

Regarding Polymath Network’s daily highs and lows, it’s 38.76% up from its trailing 14 days low of $0.14 and 11.7% down from its trailing 14 days high of $0.22.

Social Status

Currently, Polymath Network (POLY-USD) has 47210 Twitter followers and 5657 Reddit subscribers.

As of now, on Github, there are 122 forks, 284 stars, and 73 subscribers.

Volatility

Polymath Network’s last week, last month’s, and last quarter’s current volatility was a positive 0.47%, a negative 0.31%, and a positive 7.41%, respectively.

Polymath Network’s current volatility rank, which measures how volatile a financial asset is (variation between the lowest and highest value in a period), was 6.28% (last week), 6.64% (last month), and 7.41% (last quarter), respectively.

News about Bitcoin

Osprey funds files form 10 registration statement for osprey Bitcoin trust (obtc). According to Business Wire on Thursday, 8 July, “TARRYTOWN, N.Y.–(BUSINESS WIRE)–Osprey Funds, LLC, a premier digital asset investment firm, today announced that it has filed a Form 10 Registration Statement with the Securities and Exchange Commission (“SEC”) on behalf of the Osprey Bitcoin Trust (OBTC).”

Jack dorsey confirms Square is launching A Bitcoin hardware wallet. According to Benzinga on Thursday, 8 July, “Square Inc (NYSE:SQ) CEO Jack Dorsey confirmed that the payments company will build a Bitcoin (CRYPTO: BTC) hardware wallet in a Twitter post on Thursday.”, “See Also: Square Invests $5 Million To Build Solar-Powered Bitcoin Mine With Blockstream: Here’s What You Need To Know”

Btc/usd forecast: Bitcoin continues to kill time – 08 July 2021. According to DailyForex on Thursday, 8 July, “The Bitcoin market rallied ever so slightly during the trading session on Wednesday as we continue to grind back and forth just below the $35,000 level. "

More news about Polymath Network (POLY-USD).