The Ether Review <5:00 – Polkadot & Melonport
In Brief: Melon is a protocol and asset management software suite for setting up and managing portfolios containing cryptocurrencies. It achieves this through the use of the Polkadot blockchain network.
Polkadot, designed by Gavin Wood, is like an internet of blockchains. It is the communication protocol that Melon needed to manage digital assets across multiple blockchains.Right now there is no safe way to give the ability to secure and manage digital assets to another entity. Evidenced by the ongoing occurrence of hacks on digital asset exchanges – $70M in the Bitfinex hack alone. There is also no sure way to determine the performance of portfolio managers in the digital asset space. Melon solves these problems:by allowing portfolio owners to maintain control of the digital assets contained therein, while allowing a manager to adjust the exposure to each asset.By tracking the performance of individual asset managers using the provability, provable history of the Polkadot protocol.What factors have converged to create a need for Melon?There is already a wealth of valuable digital assets emerging as a result of the development of blockchain. The digitization of securities like Overstock equity represent yet another new class of digital asset. To fully take advantage of the correlation properties, fluidity, programmability, and low counterparty and custodian risk these assets have to offer, infrastructure is needed to allow traditional financial roles to exist in the digital world.Content: Mona Elisa, Reto Trinkler, Arthur Falls
Source: Coin Desk