COMIT - the backbone of TenX
COMIT NETWORK | CROSS-CHAIN INSTANT TRANSACTION
Cross-Blockchain
Interoperability
Before the invention of the TCP/IP protocol the internet was dispersed in many local networks, so-called intranets. These provided local efficiency over the more traditional of point-to-point communication (such as letter, FAX, telephone calls). The real breakthrough only came in 1973, when different intranet networks realized that they could use a unifying internetwork protocol to communicate between each other, thereby extending reach by compatibility even more.
The basic structure of the Internet and COMIT is exactly the same as its purposes are similar: the exchange of something. In today’s world the exchange of value works similar as the exchange of information pre-internet: point-to-point in an enclosed system.
COMIT network can provide the same final and elegant solution as the Internet did for information.
• True instant, frictionless and cheap payments for users all over the world
• True global access without limitations to any asset or business process connected to a blockchain
• Amazing new business opportunities for companies
• New recurring revenue streams for banks and other liquidity providers
• Rapid adoption based on existing networks build with new cheap and secure infrastructure
i read this protocol and i still have some questions for you 1) what is the difference between a liquidity provider and a traditional exchange? seems they both do the same thing 2) how does this payment channel work? i read the hash time locked contract which simply means if alice sends bob some money, bob needs his private key to get the money within the time set by alice or else alice gets back the money, but how is bob s key being used across multiple transactions on the COMIT network?