What is Polymesh?
To begin our dive into the Polymesh world, let’s first take a look at the main concepts on which the network builds. It is all about the fundamentals. Once we have those covered, you can move on to the tech specifics and learn the ins and outs. This is the perfect start for your Polymesh journey - wherever it might take you.
To get a better understanding of how Polymesh works and what you can do with it, the introduction will cover:
- Elaborations on how Polymesh is a purpose-built chain, and the advantages that come with it
- A presentation of the technical stack available
- All there is to know about POLYX, Polymesh’s native token
- A dive into identity on Polymesh and all the concepts associated with it
- The governance mechanism of Polymesh - how is change decided and implemented
- A section to discover the testnets, local networks, and mainnet
- Links to reference documentation
Discover how Polymesh as a purpose-built chain is tailored to the needs of capital markets and securities. The value proposition of Polymesh lies in a new infrastructure for a new asset class, security tokens.
Let’s find out how Polymesh addresses the challenges of general-purpose chains with identity, compliance, confidentiality, and governance.Why Polymesh?
The technical stack
Polymesh’s design differs from a server-based architecture. It is a public, permissioned network using Nominated Proof-of-Stake modelling an industry and its processes.
We will dive deeper into:
- Substrate, a modular framework enabling purpose-built blockchains
- The underlying consensus mechanism, Nominated Proof-of-Stake
- Extensions, i.e. defining rules on Polymesh, and how they help with developing on the blockchain
- The Polymesh Wallet used to effectuate transactions, and the Polymesh Dashboard, a Web-based application to conduct activities
Polymesh has a native token, POLYX. It is used for staking, governance and transaction fees.
We will take a closer look at:
- How POLYX secures the network
- Staking in Polymesh
- POLYX and voting
- The POLY to POLYX bridge, the conversion from the Ethereum-based POLY token to POLYX, the native Polymesh token
- How to get some testnet POLYX
Identity and identity management are vital for blockchains related to regulated markets. We will take a close look at the identity concept on Polymesh.
To achieve this, we will tackle:
- Attestations, descriptive properties of an identity
- Keys and how signing with them works
- Portfolios, a form to organise asset holdings under the same identity
- Permissions and their role in Polymesh
- The Polymesh Unique Identity System, and its role in Polymesh
- KYC and CDD with Polymesh
On-chain governance is always a question about: How is change decided and implemented? As blockchains have to evolve and adjust while maintaining immutability, change management is a vital part of any blockchain.
We will illustrate:
- How on-chain governance is differentiated from off-chain governance
- The governance process of Polymesh
- The possibilities of the Dashboard to conduct governance
Discovering the testnets, local networks, and mainnet
It is important to know where to test, in other words play around, and where to deploy when it gets serious. You don’t want to accidentally experiment in the mainnet - This can be costly in all senses.
To give a better overview of the different environments available, let’s dive into an overview of the:
- Local networks, and
Enjoy your adventure!