CommerceBlock is a public blockchain that is building the first technology platform. The platform will bring a combination of decentralized contract execution, trust minimized trade, and asset-backed token issuance and on-chain derivatives to public blockchains. The token sale of CommerceBlock on November 8th, 1027.
How CommerceBlock works
CommerceBlock works using their main characteristics which are cryptography, frictionless commerce, and decentralization and privacy.
Decentralization and privacy
CommerceBlock team understands the need of everybody. They understand that nobody wants their business logic posted on a public blockchain and that’s why they offer a decentralized and privacy feature that all business logic and contracts details are hidden. It is the most secure public blockchain where business owners can enjoy privacy and decentralized security.
CommerceBlock has tools for both engineers and end-users to construct and manage smart contracts. They provide escrow and complex trade flows. Clients have access to advanced cryptography like zero-knowledge proofs and homomorphic encryption. The platform is designed to avoid being a central point of failure.
Transparency, accountability, lack of liquidity between customers and managed financial institutions forbid capital markets to operate freely and efficiently. CommerceBlock disintermediated and frictionless commerce to make the operation more efficient. Participants can now participate in online commerce without asking for permission from a third party.
- The features of CommerceBlock include:
- Token distribution and management
- BIP proposal
- Zero-knowledge Proof
- Off-chain smart contracts
- Ocean network
CommerceBlock was founded in November 2016. Since its inception, the blockchain has undergone some transformation and other features and function have been added as time goes by. In February 2017 the blockchain release an Alpha command Line release of invoicing platform. May 2017 the Beta Web UI for invoicing platform, was introduced and BIP specification for invoicing Platform was introduced later in August 2017.
The pre-sale happens in October 2017, and the token sale starts November 2017. The team is planning to introduce its first enterprise integration of invoicing platform early 2018.
About the CommerceBlock team
The CommerceBlock team comprises of developer and advisors. The founders of the blockchain are Nicholas Gregory and CEO Omar Shibli, CTO. Dan Eve is the Head of Operations and Shachaf Rodberg the UX/UI Designers. The team also comprises of ICO advisors, corporate advisor, technology advisor and marketing advisor.
CommerceBlock uses the CBT as its token. The CBT is an ERC20 token and a total of 1 billion tokens are supplied. The token sale is coming soon, in November 2017.