Polymesh Private

Introduction

Polymesh Private is a private-permissioned version of the Polymesh blockchain designed for entities seeking enterprise-grade blockchain technology within controlled environments.

Polymesh Private is tailored for entities that require a secure platform for blockchain solutions and are wary of public data exposure. This is particularly valuable in jurisdictions lacking clear regulations on the use of public Distributed Ledger Technology (DLT) for regulated assets.

Key Features

Polymesh Private allows entities to benefit from Polymesh’s comprehensive features for tokenization with extra privacy and control. Sophisticated cryptography secures and maintains data onchain confidentially, mitigating concerns for regulatory compliance. Compatibility with the public network means users can benefit from its global community and access continuous updates, features, and tools. It also provides easy migration to the public network, future-proofing entities for adaptation to the evolving regulatory landscape.

Benefiting from ongoing development within the public Polymesh infrastructure by both the Polymesh Association and the wider community, Polymesh Private users can seamlessly access continuous updates, features, and tools. As the chain operator, you retain full control over the adoption of on-chain upgrades, ensuring compatibility and stability between public and private instances.

Deployment and Governance

Entities can form consortiums or independently operate Polymesh Private instances, deciding how they wish to configure their instances of Polymesh Private and deploying them within a private network (e.g., VPN) with restricted access.

The entity managing the chain retains control over on-chain governance, determining node operators and transaction participants. Governance actions can be managed through committee voting or via administrative keys/multisig wallets. The chain operator also retains full control over the adoption of on-chain upgrades.

Network tokens

Polymesh Private eliminates the need for publicly traded utility tokens, reducing uncertainty surrounding operating costs and token provenance. Transaction fees can be set to zero or managed using a native utility token for accounting and activity metering purposes, offering users flexibility in operational models.

Confidentiality

Polymesh Private introduces support for Confidential Assets, to enable secure asset transactions on a global ledger without exposing asset balances or transaction amounts. This feature is initially available exclusively to users of Polymesh Private.