Re: [CBT] CommerceBlock Decentralised Financial Infrastructure
What is the usage of CBT? what kind of services?
We offer variety of services for businesses, from managing public sidechains and all the orchestration to trading and commerce tools on top of these sidechains, CBT is the token used to pay for these services.
What is the usage of these sidechains?
I think the sidechains can be private if required by the customers. They can create tokens on it and have more control over everything this way. The customers would pay in CBT for the services (sidechains, smart contracts etc)
This is my understanding. Please correct me if wrong
So why not just use ERC20? the issuer can still control the smart contract.
Is it because ERC20 doesn't provide the same privacy functionality as BIP175 can?
This is another advantage, privacy is a challenge in Ethereum in general since it's account based with no confidentiality at all.
CommerceBlock sidechains offer better privacy in several aspects, one is confidential transfers where the amount and asset type is blinded, second is the ability to embed external data into addresses in private manner using BIP175.
What is BIP175?
BIP175 is proposal that we have submitted last year to the bitcoin community, it is based on academic paper Pay to Contract and Homomorphic Addresses, the BIP is an extension to the Hierarchical Deterministic Wallets protocol (BIP32), it adds support to associate data to bitcoin address, here is more info about it github.com/bitcoin/bips/blob/master/bip-0175.mediawiki
We have built a simple invoicing app to demonstrate this concept, you can access it here https://trade.commerceblock.com