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Polymath Network (POLY): Markets and the Weekend Roller-Coaster Ride

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Amidst the rising hype of security tokens, Polymath Network is known as the most unique and promising blockchain projects. Since the beginning of Q2, its cryptocurrency $POLY has been experiencing a consistent gain in price point and exchange volume. Security tokens have emerged as a countermeasure to regulations issued on digital assets all around the world. All over the past weekend crypto markets showed its volatile nature. This is the reason people are still wondering if cryptocurrencies can replace the traditional banking systems and still be legally compliant? With SEC imposing new and harsher regulations on ICOs, polymath wants issuers to make use of their legal security Token Offerings. In this article, we shall discuss everything about Polymath Network and its recent performance.

The idea behind Polymath Network:

Polymath Network provides its users with a secure and flexible platform for issuing security tokens. Basically, what it does it to simplify the legal process which involves the creation and selling of security tokens. The new cryptocurrency standard provided by polymath is called ‘ST20’. This standard also enforces government compliance. Hence, token issuers and users do not have to worry about legal implications of any kind. In order to launch legally compliant tokens, Polymath Network accumulates different key aspects such as:

  • Issuers
  • Smart contract developers
  • Legal delegates
  • KYC verification
  • Decentralised Exchange

History of Polymath:

The Polymath Network project can be dated back to 2017. Its initial coin offering raised approximately $1.2 billion USD in funding by selling either utility or security tokens. By utility tokens we mean, the common tokens which give you the access to use a particular platform and its network, whereas security tokens provide a user with equity or a claim to dividends from a particular company which is why such tokens are subjected to government regulation. Starting from an ICO which is now listed among the largest cryptocurrencies, polymath network has come a long way since its creation.

Objectives of Polymath Network and $POLY:

Polymath offers a new standard for blockchain security tokens by merging its necessary regulatory requirements into smart contracts while being fully compliant with government’s security regulations. The team behind polymath believes that financial securities are better suited for blockchain. Throughout polymath network, shareholders are known as token holders. This network links the entire ecosystem behind the launching of an IPO using its smart contracts and POLY token which is an ERC-20 token. POLY is used as payments all over the polymath network and also as a reward for participation. Almost 46% of last year’s ICOs have failed and crashed since they were ultimately a ‘scam’ project. Many crypto enthusiasts and investors have lost the unimaginable amount of money because of such scams. That is why governments implemented harsh yet impartial regulatory framework for future ICOs and cryptocurrencies. The main advantage of polymath network is not only that it issues government and regulation-friendly digital assets but also that it minimizes fraud, misrepresentations, and other rip-offs.

Notable Achievements in Q1:

The success and better performance of POLY are dependent on partnerships made by Polymath Network team. They need to gather more legal delegates, KYC providers, Developers, Buyers, and Issuers. During the first quarter of 2018, polymath has made headlines about their meaningful partnerships with companies like IdentityMind. After that, they announced their most significant airdrop which surmounted to 240 million POLY tokens. One of the biggest digital identity system ‘Selfkey’ and KYC associated company ‘BnkToTheFuture’ are expected to collaborate with Polymath Network. In addition to that, many notable blockchain based companies such as Ethereum Capital, SeriesX, and Corl Financial Technologies have plans to create and issue their security tokens using the Polymath Network platform. Back in April polymath announced two new and strong partnerships. One about verification service for security token offerings with Trustroot which is the leading blockchain security platform. The second collaboration was with CrowdfundX to deliver investor marketing for security token issuers powered by AI.

Market & Trading Position:

Polymath’s biggest airdrop was completed on 24th January this year and the value of POLY started with $0.78 USD approximately. This value reached its all-time peak position of $1.64 USD soon afterward. But at the time of writing, it is ranked as the 95th cryptocurrency the individual price of POLY equals to $0.852 USD and it’s depreciating at a rate of 7.35% according to CoinMarketCap. Polymath tokens are available on exchanges such as KuCoin, Bittrex, and Upbit. The value of POLY depends solely on the usability of polymath platform. If more coins are issued on ST20 standard, then this figure is likely to show some bullish trends.

Final thoughts

Although, the core idea behind issuing a cryptocurrency that is safeguarded by government regulations is a dream come true for many crypto enthusiasts however it is much complex to achieve. That is why Polymath has a long way ahead of it. But with its enthusiastic and experienced team, this project is worth monitoring as it can jump to $1 USD soon enough.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Reasons Why You Are Much Safer When Crypto Trading on Dexes

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While many cryptocurrencies aim to bring the change to the world by bringing full decentralization, one aspect of the crypto space still remains mostly centralized, and that is the way they are exchanged. Most crypto exchanges are centralized companies, where traders and investors need to deposit their coins for safekeeping. This is a risky way to handle the funds, as exchanges remain susceptible to hacks and theft, as many realized recently, after the hack of the world’s largest exchange by trading volume, Binance.

During the hack, around 7,000 BTC (over $40 million) was taken, and sent to multiple wallets, never to be seen again — for now, at least. The hack also came as quite a shock, as Binance was known for its efficiency, security, and high levels of confidence. It also made people realize that their coins are not really theirs if they need to rely on third parties, such as exchanges, to keep them safe. As a result, many are now turning away from centralized exchanges, and are heading towards decentralized ones — also known as DEXes.

Here are some reasons why you might want to consider doing the same.

1. True ownership of your coins

The crypto community has a saying: “not your keys, not your coins.” The saying is now more relevant than ever, but it does not apply on DEXes. Decentralized exchanges

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Crypto Billionaire Predicts Massive Price Growth by 2021

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crypto billionaire
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Crypto prices are once again going up, and Bitcoin has just passed a major resistance level at $6,000. With a situation like that, it is not surprising that everyone in the crypto community is looking forward to the future, wondering what to expect in years to come. Many experts have already given their predictions, some more optimistic than others, but almost all bullish.

Crypto billionaire Mike Novogratz has always been very supportive of cryptocurrencies, and very bullish on Bitcoin. He recently stated that he sees the coins’ prices triple in the following 18 months, meaning that Bitcoin’s return to $20,000 might not be far away, according to him.

He noted that Bitcoin is back to $6,000 after its price hit as low as $3,100 only a few months ago. These days, Novogratz does not believe Bitcoin will return to such lows unless there is a devastating exchange hack or a major shift in regulations. Of course, there was a big hack that had the potential to damage the coin’s price, only days ago. The world’s largest crypto exchange by trading volume, Binance, saw a significant security breach which resulted in a theft of 7,000 BTC.

However, so far, the coin did not react negatively to this incident. While Novogratz believed that such an event would shatter the new confidence in BTC, it simply did not happen. However, he…

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Altcoins

TokenRoll (TKR) Platform Will Take Online Casinos to the Next Level

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Corporate executives are turning to blockchain technology more than ever in an attempt to revolutionize the business world.  Although blockchain is still a relatively new concept, that hasn’t stopped more and more companies from jumping on the bandwagon.  This hot new technology has quickly gained a reputation for providing greater transparency, enhanced security, improved traceability, increased efficiency, and low costs.  One industry that could certainly benefit from decentralization is the online gambling market, specifically, online casinos.  TokenRoll (TKR) has developed a platform that appears to offer a promising alternative to centralized casinos.

Problems with Centralized Casinos

The primary reason why blockchain technology is being implemented so quickly is because it solves a lot of the problems typically associated with the traditional business model.  And online casinos are no different.  It still needs to be said that centralized casinos have proven that there is a great demand for online gambling.  The market is growing faster than anyone could have predicted, and future opportunities appear very promising and lucrative.  But industries are continually evolving and this one is no different.

A few of the problems facing centralized casinos include the following:

  • Little to no transparency
  • Consumer lack of confidence
  • Privacy concerns
  • 48-72 hour wait time for withdrawals

These are four monumental issues that need to be addressed quickly given the global growth of the market.  Casinos need to…

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