Polymath Speaks on Polymesh on Aldebaran Blockchain Release
This week, the hugely popular tokenization platform, Polymath unveiled some details about the Polymesh on Aldebaran security token blockchain project. Interest in the new blockchain continues to rise ever since its first mention by co-founder Trevor Koverko at CoinDesk’s Consensus in 2019. Now, Polymath is ready to show the world what its developers see as the future of the STO market.
Security Token Exclusive – Polymesh on Aldebaran
Polymath's decision to launch a blockchain exclusively for security tokens makes sense. The firm is seen by many as the top tokenization platform in the market. To date, the firm tokenized over $2.2 billion in high-end real estate. As such, the launch of the Polymesh on Aldebaran test net marks an important milestone for the entire STO industry.
According to reports, the official launch date is June 23, 2020. Developers hope to have the blockchain fully functional and open to the public by Q1, 2021. For now, the company seeks testers to help drive the beta testing process forward. Once complete, Polymesh on Aldebaran will provide an important link between traditional investment firms and the blockchain sector.
Polymesh on Aldebaran includes numerous institutional features designed to appease regulators and large investment firms alike. Specifically, the blockchain tackles the issues of absolute transaction finality through the use of a nominated proof-of-stake (NPoS) consensus mechanism. The protocol functions as an additional security layer allowing specific actions to be performed by identifiable participants on the network.
In company documents, developers explained some of the other helpful upgrades Polymesh on Aldebaran brings to the market. For one, the blockchain removes the legal complexities surrounding blockchain forks. Additionally, the blockchain includes automated regulatory compliance mechanisms directly embedded in its core coding.
In this way, Polymesh on Aldebaran ensures all parties meet the stringent securities legislation currently in place. For example, regulatory compliance coding ensures all traders completed due-diligence checks. Additionally, the compliance mechanisms can deny traders access based on their location, identity, or other preset parameters.
Permissioned Blockchain – Aldebaran
Importantly, Polymesh on Aldebaran‘s design allows sensitive data to remain private. Developers explained that the new system will keep all trading and user-specific data more secure than other alternatives on the market. Discussing the developments, Thomas Borrel, chief product officer at Polymath called the project a “major milestone.” He also spoke on some of the capabilities the platform introduces to the market. Lastly, he touched on Polymath's overall intention to satisfy regulators and institutions.
Polymath entered the market in 2017 with the goal to simplify the creation, issuance, and management of digital securities on the blockchain. Since its inception, Polymath has been an innovative force in the tokenization sector. The platform currently offers a wide variety of blockchain-based products. These products include white label solutions. Famously, Polymath tokenized $2.2 billion in real estate in February of this year. Now, the firm has its eyes set on the STO sector.
A Bull in the Glass House
The Polymesh on Aldebaran blockchain project will drive security token adoption to new heights if succesful. Polymath has the market experience and network to develop something integral within the sector. For now, the cryptocommunity awaits the final launch of this innovative blockchain.