Polymath Network, a platform specializing in security tokens, has announced a new update to their protocol. Their ST-20 security token standard is now compliant with the ERC-1400 protocol on Ethereum.
Despite being largely quiet for the past few months after a shakeup in its staff. Regardless, it still maintains it will be the industry leader of digital securities.
Despite having their own token standard the ST-20, Polymath does not want its ecosystem to be separate from Ethereum’s. This is why they have updated their protocol. The update, called ‘Poho,’ makes it so that ST-20 tokens are now compliant with the ERC-1400 Ethereum-based token standard.
The ERC-1400 is considered the leading token standard for securities on Ethereum. Released in late 2018, it has since been hailed because of its inherent interoperability. Its goal was to bring transparency to ownership which is exactly what the ST-20 plans to do as well.
Adam Dossa, Head of Technology at Polymath, said that the announcement will allow the ST-20 to further integrate itself with Ethereum. He also praised the ERC-1400 standard for allowing stakeholders to “speak the same language, opening up significant opportunities in this vertical.”
“With the “Poho” release of our Polymath protocol, ST-20 tokens are fully ERC-1400 compliant as well as being future-proofed through on-chain upgradability and a sophisticated modular structure.”
Along with the upgrade, the Poho upgrade also brings some new features which make token issuances easier. ST-20 tokens can now be fully customized for a specific asset.
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Image courtesy of Polymath.