Providing Liquidity For Trillions Of Dollars Of Assets For instance, we can take multiple ledgers and put them together in a way were some of those can have closed settings, but still augment them on to an open system where transactions can occur,” explained Hoskinson. Rather, this is a hybrid network in which we layer systems together. It’s a false dichotomy to say that Polymesh is a private permissioned network or that is has be one or the other. However, while Polymesh isn’t an entirely open system, it’s not a private permissioned network either. We see a coming stampede of security tokens, but it's more complicated then the first wave of utility coins due to all the regulations, compliance issues, and data,” Koverko told me. “All the best features of Ethereum are actually bugs for security tokens. So we are at odds with the standard Bitcoin ethos here,” Hoskinson told me.Īnd while Polymath initially launched on Ethereum, the team was well aware that a layer one blockchain would eventually be needed. Moreover, things need to be done that you wouldn’t want to be done on Ethereum, like freeze or reverse transactions. However, security tokens are data intensive protocols, which means operating costs will be high, and this won’t scale if we are talking about millions of securities, which we will eventually see. For instance, every time something is done in an open system it becomes a shared resource. It’s not a good idea for security tokens to live in a completely open system. All kinds of data are associated with a security that you wouldn’t want associated with a cryptocurrency.
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