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…