Polygon Launches Libre: Institutional Asset Tokenization Solution!

Bittime - Polygon, a scaling solution for Ethereum, has just launched a new breakthrough, Libre. This is their latest ZK-based second layer (layer-2) specifically aimed at helping financial institutions (institutions) utilize digital assets compliantly and efficiently.

So far, asset tokenization, namely the process of converting real assets into crypto assets, has been a challenge for institutions. This process is often expensive, takes a long time, and does not necessarily comply with existing regulations.

The presence of Libre answers this problem. Through Libre, institutions can tokenize (digitize) their various financial assets easily and securely. Polygon, with Libre, guarantees security and regulatory compliance, so institutions can transact with confidence, just like big players like JP Morgan with their private tokenized blockchain, Onyx.

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Benefits of Using Libre

Libre offers several advantages for institutions:

• More efficient and cost-effective: Libre eliminates the need for expensive and time-consuming middlemen.
• Eliminates congestion: Unlike popular crypto networks like Ethereum or Bitcoin which often crash and have expensive fees, Libre runs smoothly and transactions are cheaper.
• Privacy maintained: The ZK technology used by Libre provides additional privacy in the institutional asset tokenization process, while remaining compliant with regulations.

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Example of Using Libre

Currently, several institutions are already using Libre to issue tokens from their various financial assets, for example money market funds. Some examples are tokenization carried out by Brevan Howard (hedge fund) and BlackRock (the world's largest asset manager).

Libre makes it easy for qualified investors to access these funds quickly, transparently and liquidly 24/7. This is just the beginning. Real asset tokenization is expected to be a $10 trillion industry by 2030, and Libre is poised to be a major player.

Get to know Polygon more deeply

The Polygon Network uses a modified proof-of-stake (PoS) consensus mechanism. Unlike traditional PoS which requires processing multiple blocks to reach consensus, Polygon can reach consensus on each block. 

This means your transactions will be confirmed faster on Polygon compared to other networks that use traditional PoS.

Polygon network participants must stake, that is, lock their MATIC tokens and not trade them, in exchange for the right to validate transactions. Validators who are successful in validating transactions will be rewarded with additional MATIC tokens.

Scalability Solution for Ethereum

Polygon was created to overcome the limitations of the Ethereum network, primarily high transaction fees and slow transaction processing speeds. Polygon offers several capabilities:

• Running existing blockchains and developing new blockchains: this flexibility allows a wide range of blockchain projects to leverage Polygon.
• Bridging communication between blockchains: this enables interoperability between different blockchains, including Ethereum.
• Making other blockchains compatible with Ethereum: Polygon can help other blockchains connect and interact with the vast Ethereum ecosystem.

Polygon, founded by Jaynti Kanani, Sandeep Nailwal, Anurag Arjun, and Mihailo Bjelic, now supports more than 7,000 blockchain-based projects. The launch of Libre marks another important step for Polygon towards Polygon 2.0, their vision for a scalable, interoperable, and user-friendly Web3 future.

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The Future of Polygon 2.0: Interoperability and Tokenization

Libre will be a key part of Polygon's AggLayer, which is at the core of their plans to build an interconnected layer-2 network. This is a key step towards the highly anticipated “Polygon 2.0”, and is predicted to increase the value of their MATIC token.

Libre also serves as a bridge connecting institutions with other protocols that use Polygon, as well as AggLayer. This will further increase liquidity in the Polygon network.

How to Buy Crypto on Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Learn Complete Guide How to Buy Crypto on Bittime. 

Monitor price chart movements of Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.

Also read:

Polygon Deploys POL Token on Ethereum Mainnet

Polygon (MATIC) Price Prediction According to Crypto Academy

Polygon (MATIC): Positive Trend and Predicted to Touch ATH?

Will Polygon (MATIC) Price Return to $1 when the “Whales” Go Away

DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.