|Mkt.Cap||$ 1.72 M||Volume 24H||0.00000000 CBT|
|Market share||0%||Total Supply||1000 M CBT|
|Proof type||N/A||Open||$ 0.0017|
|Low||$ 0.0017||High||$ 0.0017|
CoinShares, Blockchain Launches “Digital Gold” Token on Bitcoin Sidechain
It is worth noting that that a virtually unlimited number of asset backed sidechains can be implemented with the Commerceblock architecture, of which the MKS gold chain is the first. With every new asset backed sidechain the value of the network increases as well as the service fee income for participating Guardnode (one Guardnode can typically service multiple sidechains and one individual Guardnode operator can choose to run multiple nodes).
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All of the project’s technology is based on peer-reviewed research by experts from the open source and academic cryptocurrency communities. According to the DGLD consortium, the token is not subject to the same regulatory constraints as traditional gold-based investment products.
The bullion has been tokenized on the Ocean Bitcoin sidechain, a network developed by blockchain firm CommerceBlock. Commerceblock provides public blockchain based technology and infrastructure that enables the tokenisation of assets and securities on fully independent blockchains (federated sidechains) that derive trustless immutability from the Bitcoin network Proof-of-Work consensus process. We have created an open-source ecosystem that provides all the tools required to launch and operate permissioned sidechains with customisable transaction and user policy and full KYC/ID provider integration.
First and foremost, the APIs and SDKs employed by CommerceBlock provide users with a wide array of tools that have been tested and verified. To be even more specific, the exposed libraries can interact directly with base layer public blockchains, as well as with layered protocols such as the Lightning Network.
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A consortium of firms including CoinShares and Blockchain has launched a gold-backed token dubbed the “digital gold” (DGLD) token to be secured on the Bitcoin blockchain. In development for about two years, the DGLD network launched on October 15, 2019, with a supply reported to be backed by about $20 million worth of physical gold, stored in the vault of Swiss-based custodian PAMP. We see indications that the Commerceblock is looking to take steps in this direction and thus further increase the investment potential for token holders. This has paid off as the Commerceblock is now live with one of the world’s major gold producers utilizing its network , generating company revenue as well as providing great benefit to the Commerceblock token holders.
It allows asset custodians to issue tokens on permissioned sidechains that they control and these asset-backed blockchains can then connect to the Bitcoin blockchain via CommerceBlock’s MainStay protocol. We see major potential in Commerceblock going forward as further asset backed sidechains will go live on the network and thus increasing the value for Commerceblock token investors as well as token holders who are willing and able to operate Guardnodes. You can buy, sell or trade CommerceBlock Token (CBT) on more than 10 exchange listed above. You can select some of above exchanges to buy CommerceBlock Token (CBT) with USD, INR, CAD, EUR, GBP, RUB, etc. Also, you can use the same exchanges to trade CommerceBlock Token (CBT) against cryptocurrencies like BTC, ETH, LTC, ETC, XMR, USDT, BNB, etc.
Overview of the platform
Through the use of Ocean and MainStay, CoinShares feels it has been able to combine the legacy value of gold with the immutability and trustlessness of Bitcoin. At the center of CommerceBlock’s technology is Mainstay, a protocol to enforce the immutability of asset backed sidechains .
- Also, you can use the same exchanges to trade CommerceBlock Token (CBT) against cryptocurrencies like BTC, ETH, LTC, ETC, XMR, USDT, BNB, etc.
- A consortium of firms including CoinShares and Blockchain has launched a gold-backed token dubbed the “digital gold” (DGLD) token to be secured on the Bitcoin blockchain.
- We are building the first technology platform to bring a combination of trust minimal trade, decentralized contract execution, on-chain derivatives and asset backed token issuance to public blockchains.
- We are building the first technology platform to bring a combination of trust minimized trade, decentralized contract execution, on-chain derivatives and asset backed token issuance to public blockchains.
- While a specific launch date wasn’t noted, it indicated that DGLD will be available sometime in Q4 2019.
GFP Makes Investment Transparent
The outcome of the auction determines the amount of Commerceblock tokens (CBT) that needs to be staked by each participating Guardnode in order to receive a confirmation from the asset backed network on permission to provide the service. CommerceBlock token is an ERC-20 token based on the Ethereum blockchain that will power the CommerceBlock platform. The platform will provide a combination of trust minimal trade, decentralised contract execution and on-chain derivatives allowing anyone to build and use financial products and services historically reserved for commercial banking customers.
It is estimated that a staggering $350 trillion in global assets are held and traded daily via the use of conventional fiat banking systems. These systems, while highly prevalent, are ridden with innate issues of poor liquidity, low transparency, and little accountability. This is because banks and other financial institutions are governed by central operators and thus are confined in terms of overall operability.
We are building the first technology platform to bring a combination of trust minimal trade, decentralized contract execution, on-chain derivatives and asset backed token issuance to public blockchains. We are building the first technology platform to bring a combination of trust minimized trade, decentralized contract execution, on-chain derivatives and asset backed token issuance to public blockchains. We strive to help our readers gain valuable, trusted insights through in-depth analysis, high-quality and well-researched News stories and views from the digital currency community experts. Our young and dynamic team is comprised of well-known journalists as well as Cryptocurrency & Blockchain Experts.
In essence, the Guardnode is providing a monitoring service to the sidechain (in this case gold token transaction network) and is being paid with the asset traded on the same sidechain (gold). Guardnode operators need to weight the cost of implementing and operating a Guardnode against the expected service fee received in form of gold tokens, where the latter is the depending on the transaction volume. In order to be eligible to participate as service providers, Guardnodes need to take part in a Dutch auction before the start of a new Service Period.
CryptoGround.com is an independent publishing house that provides Cryptocurrency & Blockchain Technology News. It is a News Media Platform which serves its audience with accurate News and Analytical Articles. Our team is committed to providing unbiased News & Reports related to various Cryptocurrencies, Decentralized Apps, Initial Coin Offerings (ICOs) and Blockchain technology. CommerceBlock is an all-new blockchain-based platform that has been designed to facilitate global economic trade in a secure, private, and efficient manner via public blockchains.
Average price CBT
We will of course continue to follow the project as it is one of the very few coming out as a winner from the 2017 ICO space. When not exploring the emerging blockchain ecosystem, he loves to play the blues and dabble in the world of meditation.
Released into the crypto market on April 18, CBT tokens initially traded at a price of $0.036 per token. The DGLD press release added that institutional and retail investors will be able to purchase the token exclusively through Blockchain.com’s cryptocurrency exchange, The PIT, at first. While a specific launch date wasn’t noted, it indicated that DGLD will be available sometime in Q4 2019. View CommerceBlock Token (CBT) price history chart, statistics and other information. The Commerceblock token model is unique in its staking model as token holders are not paid in CBT for providing the Guardnode service (which would create nothing but sell pressure for CBT), but in the actual real world asset these Guardnodes are tasked to monitor.
The product is classified as a “category five” product in the Swiss Financial Market Supervisory Authority’s stablecoin taxonomy, a category which is reserved for cryptocurrency projects that are linked to commodities with property rights. The CommerceBlock sidechain is built on the same codebase as Blockstream’s Liquid sidechain. But while Liquid is a “federated sidechain,” meaning that a group of individuals serves as an intermediary between it and the Bitcoin parent chain, CommerceBlock claims it has removed the need for this second layer of trust.
The token is transferred on the first live implementation of the Commerceblock Ocean sidechain, which is a private permissioned network of nodes, and the immutability is guaranteed by Mainstay (see below). The most interesting part for crypto investors who like to participate in the network is the 3rd party security monitoring through Guardnodes, which allows Guardnode operators to earn fees in the shape of the assets traded on the sidechain, in this case gold.