How and Where to Buy Polymesh (POLYX) – Detailed Guide

What Is Polymesh (POLYX)?

Polymesh is an institutional-grade permissioned blockchain built specifically for regulated assets. It streamlines antiquated processes and opens the door to new financial instruments by solving challenges with public infrastructure around governance, identity, compliance, confidentiality, and settlement. POLYX is the native protocol token of Polymesh used to stake and secure the network, pay transaction fees, and engage in governance.

Polymesh integrates built-in financial primitives that enable users to operate the blockchain at minimal fixed costs. Additionally, it enables developers to create decentralized applications (dApps) on the platform. Polymesh also aims to effectively tackle critical concerns like rule enforcement, identity verification, regulatory compliance, data privacy and transaction finalization.

According to Polymesh's whitepaper, the project overcomes the flaws in Ethereum and other general-purpose blockchains that may impede the acceptance of security tokens by industries and institutions.

Who Are the Founders of Polymesh?

The Polymesh Association's core team consists of Chris Housser (Head of Strategy), Adam Dossa (Head of Blockchain), Graeme Moore (Head of Tokenization), William Vaz-Jones (Head of Partnership Development), Robert Jakabosky (Head of Applied Blockchain Research), Francis O’Brien (Head of Developer Relations) and Nick Cafaro (Head of Product).

What Makes Polymesh Unique?

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.

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How Many Polymesh (POLYX) Coins Are There in Circulation?

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.

How Is the Polymesh Network Secured?

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

Where Can You Buy Polymesh (POLYX)?

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.

POLYX has been listed on a number of crypto exchanges, unlike other main cryptocurrencies, it cannot be directly purchased with fiats money. However, You can still easily buy this coin by first buying Bitcoin from any fiat-to-crypto exchanges and then transfer to the exchange that offers to trade this coin, in this guide article we will walk you through in detail the steps to buy POLYX.