What we do
CommerceBlock‘s public blockchain based infrastructure enables the distribution, exchange and storage of tokenized assets and securities through the execution of smart contracts. We have created an open-source ecosystem utilizing sidechains together with an attestation service (MainStay) to combine the immutability and security of public blockchains with the flexibility of private blockchains. To achieve this, we have extended the sidechain protocol Elements with easy-to-use libraries for issuing assets, constructing complex trade flows, enforcing multiparty escrow and producing trusted regulatory audit trails.
Read our whitepapers
Keep up to date with the latest developments in the CommerceBlock world.
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MainStay whitepaper - MainStay is a protocol that allows to run highly efficient, scalable and interoperable sidechain ecosystems while simultaneously exploiting the full security and immutability of a proof-of-work public blockchain.
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Initial whitepaper - Introducing a platform for enabling global economic trade in a secure, private and efficient manner utilising efficient and scalable 2nd layer solutions based on public proof-of-work blockchains.
How it works
The CommerceBlock Network
CommerceBlock is more than just an infrastructure provider. It is the basis of a network of interoperable sidechains that leverage our open-source tooling in a variety of unique contexts. At the center (“root”) of this network is the CommerceBlock’s MainStay protocol. Sidechains in the CommerceBlock network are merkelized and anchored to a public blockchain, forming the structure of a tree. These anchored “leaf” chains can be customized by their operators to issue and distribute assets through advanced smart contracting protocols.
Immutable and secure
Public blockchains derive their security from consensus protocols designed to operate in open and adversarial environments (e.g. proof-of-work). These protocols create a very large barrier for an attacker to reverse the history of the chain. Private blockchains are unable to achieve this security by default, however it is possible to anchor private blockchains into a public blockchain to access this property of immutability. We have designed the MainStay attestation protocol for just this reason. This protocol is available to both the CommerceBlock “root” chain and any “leaf” sidechains.
Flexible and customizable
Public blockchains are inherently restricted in the features they can provide to users. It is for this reason CommerceBlock focuses on the flexible nature of sidechains, where the operator can customize every layer of the system to their needs. They can define the consensus mechanism, the approach to regulatory compliance, the smart contracts that underpin the system and all other aspects of the sidechain while still allowing assets in these networks to be traded on exchanges and come into contact with the most cutting edge research in the space. The lightning network, atomic swaps and other exciting innovations are only one network upgrade away.
Network characteristics
Fault Tolerance and Privacy
There is no room in competitive business environments for the exposure of sensitive private data. When utilizing the protocols built by CommerceBlock, all contract details are hidden in zero knowledge and distributed across our federated sidechain infrastructure. Strong cryptography and regular attestation to public blockchains provide privacy preserving and fault tolerant product offerings to our clients.
Cryptography
Cryptographic primitives require years of carefully honed expertise to safely implement and test; it is for this reason that CommerceBlock relies upon open source and peer reviewed cryptographic primitives. Our libraries leverage homomorphisms, zero-knowledge protocols and other advanced techniques to enable the client side management of trade details and customer funds.
Frictionless
Dependencies on trusted intermediaries create inefficiencies and high transaction costs for participants in capital markets. CommerceBlock removes the need for these intermediaries by providing direct access to protocols that allow engineers unfamiliar with the intricacies of smart contracting to safely bridge the gap between public blockchains and sidechains.
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November 2016
Founded
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BIP Specification
August 2017
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October 2017
First Enterprise client engaged
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Launch of first asset backed sidechain (Testnet)
June 2018
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July 2018
Announcement of MainStay protocol
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Launch of production sidechain
December 2018
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March 2019
CommerceBlock Network live
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Enterprise tools
July 2019
Our History
Founded by Nicholas Gregory in 2016, CommerceBlock has a long history in the Bitcoin ecosystem. After watching the protocol and its surrounding community develop over the last few years, the founding team became inspired by the idea that they could extend its usefulness to enterprises across the globe. Their first step was to specify and implement BIP 175, a protocol that allows businesses to leverage cryptography in new and exciting ways. Looking forward, they are excited to contribute back to the sidechain protocol, Elements.
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November 2016
Founded
-
BIP Specification
August 2017
-
October 2017
First Enterprise client engaged
-
Launch of first asset backed sidechain (Testnet)
June 2018
-
July 2018
Announcement of MainStay protocol
-
Launch of production sidechain
December 2018
-
March 2019
CommerceBlock Network live
-
Enterprise tools
July 2019
Our History
Founded by Nicholas Gregory in 2016, CommerceBlock has a long history in the Bitcoin ecosystem. After watching the protocol and its surrounding community develop over the last few years, the founding team became inspired by the idea that they could extend its usefulness to enterprises across the globe. Their first step was to specify and implement BIP 175, a protocol that allows businesses to leverage cryptography in new and exciting ways. Looking forward, they are excited to contribute back to the sidechain protocol, Elements.
Leadership
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Nicholas Gregory
CEO
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Dr Tom Trevethan
CTO
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Dirk Bernhardt
COO/CFO
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Tobias Straessle
Non-executive Director
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Danny Masters
Board Director
