COMSA CORE pegs and controls tokens between the NEM, Bitcoin, and Ethereum blockchains as an independent service of Tech Bureau. It converts value among cryptocurrencies into pegged tokens with the total volume controlled.
COMSA CORE monitors incoming transfers of cryptocurrencies or tokens into a COMSA master account with the final destination details embedded in them. It then locks or burns that amount in the COMSA master account. At the same time, it also unlocks or issues equivalent cryptocurrencies or tokens on the corresponding blockchain and sends them to their final destination account.
COMSA HUB is a software for licensed holders of mijin private blockchains to control token balances between master public blockchain accounts and internal private ledgers.
COMSA HUB monitors incoming transfers of cryptocurrencies or tokens to the company’s public master account with final destinations included in a message. It locks that amount in the company’s public master account. Subsequently, it creates the equivalent private tokens inside the company’s mijin private blockchain and sends it to the corresponding account.
When it detects an outgoing transaction by receiving an incoming transfer to the company’s private master account with the final destinations included in the message, COMSA HUB burns these tokens on the mijin private blockchain and unlocks the cryptocurrency or tokens on the public blockchain and sends them to the corresponding address.
For an example of an aggregate transaction, let’s say Alice wants to sell 1 NEM:BTC for 300,000 NEM:JPYZ, and Bob wants vice versa, but they do not have any XEM. Now, Alice can request Zaif exchange for network transaction fee, by paying 0.00001 BTC. When all 3 parties sign the request, Zaif exchange pays 1 XEM for the network fee and receive 0.00001 BTC for that service. At the same time, Alice and Bob can swap those values without buying any XEM.
This new concept allows people to carry out most of the business transactions on the NEM public blockchain without even realizing the need to use the XEM native currency for the network fee.