Blockchain technology is an issue well-known to those who spend some time of their lives on cryptocurrency exchanges. But have you ever tried to delve deeper than the understanding that blockchain is “a way to store data as the chain of blocks”? Where can blockchain technology be used?
Today we will discuss in detail such a security token platform as Polymath. These security tokens are already on the stock lists, and the participants in the crypto community are actively interested in the new cryptocurrency.
In general, all cryptocurrencies are complex instruments, usually implying a high risk of going into negative and wasting money. In the market-moving news, you can meet titles about the real and potential losses of the users involved in crypto trading. Of course, the crypto market is not the only risky place: ordinary financial markets might lack securities, thus assuming a high risk of transactions as well. But this is the price of the potential provided by these services: the correct strategy and knowledge of such notions as “volatility” might serve well.
The Polymath cryptocurrency is a digital token. There is a platform to create a common trading platform for securities that can be transferred to a blockchain.
For now, many companies are trying to implement a blockchain into their business, but the difficulties at the legislative level prevent this from happening. Polymath found a solution to this problem by releasing its tokens and achieving government compliance. They differ from all previous ones, so they can play the role of shares.
We hope that information contained in this article will be useful both for the newcomers in the crypto world and for the experienced users, who already know a lot about the crypto exchange and are themselves ready to share the investment advice and financial advice with beginners.
The Polymath Platform Functionality
The functional features of the Polymath platform are that the developed toolkit will allow turning the platform into a full-fledged trading platform. Each company will be able to transfer its physical assets into digital assets in order to use the blockchain and its advantages subsequently. Thus, the companies receive well-regulated assets.
Developers have created 4 tools:
- The option of smart contracts;
- The Polymath digital application;
- Technical service support;
- Digital exchange possibilities.
POLY tokens can be used not only for internal activity. They are also intended for depositors, developers, and those who issue coins.
In comparison with the Etherium, the Polymath platform has very modest functionality. Nevertheless, it can provide a wide range of services. The task of the project team is to create a single site where customers can use the necessary tools to place tokens initially and digitize their real assets.
Key principles of operation are reliability and safety.
How Does Polymath Work?
Polymath network is built on the principles of a decentralized exchange, which is a popular solution nowadays that, together with the notion of smart contract, aims to provide users with financial securities. Each financial product now avoids risks involved in the trading, making the Polymath network a smart choice.
Another important feature of Polymath is increased liquidity, which is usually lacking for non-digital goods. The problem is that even top exchanges often refuse to transform them into the digital form, being afraid of the regulators. Polymath network sees it rather as an opportunity than as trouble.
There is a standard, ST-20 Polymath standard (ERC1400), which helps token issuers easily maintain regulatory compliance.
Some History
Have you ever heard the name Trevor Koverko? If you have not, the time has come. Trevor Koverko is the person responsible for the Polymath token creation. Koverko and the team set up Polymath in 2017 after he spent some time getting experience on Wall Street and Silicone Valley. His hand also touched Lumenix and ShapeShift, but as an investor.
In 2018, Polymath ICO, or initial coin offering, occurred, which allowed the creators to fund dozens of million dollars for further development.
Poly token: Polymath Price, Market Cap, Circulating Supply, and Total Supply In Detail
In this section, we will discuss the details of a native token of this platform.
Poly tokens are actually utility tokens, or, in other words, tokens, sold to support development. But in 2019, Polymath made an announcement concerning Polymesh, a security token blockchain, the first one in the world, based on Parity Substrate.
In simple words, security tokens serve for identification purposes, using personal data. Selling security tokens and performing actions to manage security tokens are not easy, yet Polymath aims to achieve this goal.
1. Polymath Price
At the moment, the Polymath price is equal to 0.35 dollars USD. Such a relatively low number makes it attractive to the newcomers to the crypto market. You do not have to spend much money on your first deposit — thus, in the future, it might turn out to be a smart investment decision to increase your capital.
2. Polymath Market Cap
First of all, let us try to understand what the market cap is. Market cap, or market capitalization, is the total value of all coins of the cryptocurrency ever mined. To calculate the market cap, you should multiply the number of circulating coins at the moment by the price. The price here means the price of a single coin of a certain cryptocurrency.
Now, when you know what the market cap is, we are ready to share the information on Polymath specifically. At the moment, the market cap of Polymath is slightly less than 215 million dollars USD.
3. Polymath Supply
In this section, we will cover different kinds of supply of Polymath. Let us briefly remind you of what these notions mean:
- Total supply is the general amount of coins of any cryptocurrency existing at a certain point in time;
- Circulating supply is the number of coins being now in circulation, owned by the general public;
- Max supply is the number of coins of the currency that will ever be mined and used in trading.
Polymath’s total supply is equal to 1 billion poly. 1 billion units of a cryptocurrency is a frequently met number when it comes to the total supply.
Polymath circulating supply is equal to 808,000,000 poly coins. The circulating supply is always lower than the total one.
For polymath, there is no established max supply.
Where Can I Buy Poly?
In 2021, users can buy polymath on a relatively large amount of exchanges. Popular choices to buy poly on are Bittrex, Kucoin, Huobi, and others.
On these exchanges, you can buy polymath for both crypto and fiat currencies. In the first case, the popular pairs are with Bitcoin BTC, Ethereum ETH, and others. Such fiat currencies as dollar USD or euro EUR are usually accepted as well.
On the exchanges, you will most likely be asked to pay trading fees, so we do not claim to become your personal financial advisor, and we recommend you conduct your own research on the issue and search for the data. Still, tokens suggested by this platform built on the ethereum blockchain seem to deserve your attention if you take trading seriously.
The Final Word
Polymath is a decentralized exchange service, supported by ERC-20 utility token and claiming reliability and security from bad actors. It was built to issue securities tokens in a regulated way, thus putting digital securities on top of priorities. The service manages to unite issuers, legal delegates, smart contract developers together, which is a useful and helpful characteristic.
Thanks to an interesting ideology, the Polymath project has prospects for development. In the future, this platform will be a success with a wide range of companies. But so far the society is not yet ready for such functions.
This article was not planned to become your investment advisor, and you are the only one who manages one’s capital. Still, we believe that the Polymath token deserves your attention before you start or continue trading. If you decide to create a token by yourself, the service will provide you with an opportunity for establishing regulatory requirements, thus increasing securities.
Polymath is also worth your time because of its principles. It encourages collaboration, putting the creation of an involved active community to one of the first places. It guarantees liquidity, extremely important for private companies. It permits the creation of security tokens quickly, high rates of speed on the service are set, and the tokens are identity-aware.
If we compare Polymath with, for instance, Ethereum, we will see the advantages the first provides. Despite the fact that both these services support decentralized token and an application layer, Polymath has KYC (know your client approach) baked into the protocol, and no special additional technical skills are required.
And, finally, an additional funny fact for you is experienced crypto traders and beginners: Polymath has a Telegram group with the biggest number of followers. Their number exceeds 50 thousand followers!
FAQ
Is polymath a good investment?
Nowadays, Polymath claims to be a currency, gaining popularity. It is up to you to decide whether to invest money in it or not, but according to the data provided by the forecasters, polymath price is going to grow in a long-term perspective. This currency has a relatively low price in 2021, which makes it attractive for those interested in affordable but promising cryptocurrency.
Is polymath a Binance?
Binance is an online service for cryptocurrency exchange. At the moment, it has numerous opportunities for the utility token exchange, but it does not offer polymath for trading.
Is polymath safe?
Polymath announced the increase in asset security and reliability. This service provides its users with smart contracts. Though this information does not intend to constitute investment advice or legal advice, we still recommend taking a closer look at Polymath.
