– Polymath Coin – (POLY) combines the security token business with blockchain technology. Polymath is a platform that allows you to create your own security tokens based on the ST20 token. In this respect, the platform is similar to that of Ethereum.
Polymath Coin – What is this crypto currency on https://www.onlinebetrug.net/en/?
Security tokens have so far received less onlinebetrug attention than utility tokens. They could soon become much more important to you. And Polymath could become the platform for such tokens. A security token resembles a security. Such a token can be linked to a profit or turnover promise, it stands for a repayment obligation or share rights in an asset.
On Polymath, such tokens can be created using its own ST20 token standard. The concept is similar to Ethereum, where utility tokens can be created based on the ERC20 token. The special thing about Polymath Coin is that these tokens comply with government standards. The platform is intended to make the security tokens and the trade with them even more secure by regulating them by the state. Normally, the developer of the token would have to contact the state himself. Polymath helps them by largely automating this process.
The platform is intended for the Bitcoin trader
To create a security token, a form must first be filled out. Then the user chooses a Bitcoin trader. These delegates receive fees from him in the form of the POLY Coin for their work. The user must own the POLY Coin before he can start to create the security token. Once he has selected a delegate, he properly registers the token and also helps to create a smart contract for the token. Polymath also helps to find providers for the fulfillment of the know-your-customer processes. The adherence to these processes is again handled by Smart Contracts on the platform.
The reason for this approach is that security tokens are subject to different guidelines than normal tokens due to their functions, which correspond to those of the securities. Security tokens cannot simply be exchanged and traded on the normal exchanges. They can also perform functions similar to those of a stock. Therefore, it is also important to know who owns which security tokens, as they are associated with a right to dividends and other tax-relevant profits. The same applies to voting rights in corporate decisions. The Smart Contracts on the platform make it clear who can buy and sell the tokens.
The Polymath Coin cannot be mined. The blockchain uses a proof-of-stake algorithm to verify transactions of its coins. This means that users must hold a stake of coins in the Polymath wallet. More is not necessary to get a few POLY coins as a reward from time to time.