Polymesh price

POLYX

#189

Polymesh prioritizes regulated assets, leveraging its expertise in the ERC-1400 — a standard for security tokens proposed by Polymath — to strike a balance between global accessibility and regulatory compliance.

In Polymesh, actions on the blockchain are carried out through identities, which offer a more comprehensive and secure approach compared to the public key systems commonly seen in other blockchains. These identities possess universal permissions, granting authorized authorities access across the Polymesh network.

The architecture of the blockchain enables the transfer of security tokens to be securely recorded, eliminating the need for third-party verification of ownership information. This effectively bridges the information gap between token holders and issuers.

Polymesh also safeguards token holder privacy during voting processes while leveraging the transparency of the public blockchain for its ‘’Corporate Governance’’ feature. This dual approach reduces the risk of manipulation and ensures fair and tamper-proof voting.

Beyond security tokens, Polymesh also extends its support to stablecoins. These stablecoins, issued by authorized and well-capitalized third parties, can be pegged to various currencies. They facilitate cost-effective on-chain activities and efficient cash distributions.

According to Polymesh’s whitepaper, Polymath's ERC20 token, POLY, has a total supply of 1 billion tokens. While it is assumed that the majority of POLY will be converted to POLYX, the overall supply of POLYX will not have a fixed or predetermined upper limit. The supply of POLYX will increase over time to fund block rewards and support the Proof-of-Stake consensus mechanism of Polymesh.

POLYX has a total supply of 796,445,050 tokens with 668,429,821 POLYX in circulation.

Polymesh employs a nominated proof-of-stake consensus mechanism, incentivizing node operators and stakers to collaborate in guiding the chain's evolution. Staking secures the network by aligning the economic interests of both parties through rewards and penalties in POLYX.

The mechanism determines which blocks are added to the chain, as well as roles, rules, and incentives. Stakers, who are verified POLYX holders, back their chosen node operators with POLYX, and both parties receive rewards or fines based on the node operator's performance in maintaining their node and following Polymesh rules

POLYX can be purchased on various centralized exchanges such as Binance, Huobi, Crypto.com, Upbit, Gate.io and more.

Keep track of POLYX live prices in real-time with the CMC mobile app.

Check out the ultimate guide to DeFi by CMC Alexandria.

Learn more about enterprise blockchains with CMC glossary.

CoinMarketCap takes a deep dive into what enterprises are doing with blockchain.