Unlock coins from their silos with interblockchain
MOVE - TRANSACT - EXCHANGE
The Interblockchain Network
Coins trapped in their blockchain network silos can be moved to multi-ledger blockchains such as Ethereum, Neo, EOS, Stellar, Lisk, Qtum, etc.
And be redeemed back to their original blockchain while still keeping their value. Thus, for example, a Bitcoin moved as a proxy Bitcoin on Ethereum
can be traded locally with a full Bitcoin value for another ERC20 coin or an Ether on a 0x non-custodian-based relay, or any smart contract based
Exchange. The pegged coin can also be spent for e-commerce on a fast blockchain network.
The pegged Bitcoin owner can redeem it back into a Bitcoin.
What can be done on Ethereum can also be done on Stellar, EOS and any other programmable blockchain network
we wil support in the future.
How it works
Single ledger blockchains like Bitcoin are locked into a single network, the Bitcoin network.
With our inter-blockchain network connected to multiple blockchains, coins like Bitcoin can be moved
to faster networks with much lower transaction fees, some are even practically without any fees.
From minutes, hours and sometimes days, we progress to seconds and $0 fees (or very close to).
Any spent proxy Bitcoins can be redeemed back as Bitcoins with their full value. A proxy Bitcoin (iBTC) is pegged on the Bitcoin (BTC).
With the interledger network, several hundreds of cryptoAssets and cryptocurrrencies can be transferred, today, to Ethereum and back to their original networks.
We recently added bi-directional movement to Stellar and EOS
We currently move Bitcoin, Bitcoin Cash, Litecoin, Ripple, Ethereum, Stellar, EOS, ERC20 on Ethereum and tokens hosted on EOS and Stellar.
Actually, coins like Bitcoin are used mainly as speculation assets. Transaction costs are as high as $30 USD
and it takes minutes, even days, for payment confirmation.
This is not a viable solution for e-commerce.
When these coins are moved to faster and nearly free-transaction-cost networks, e-commerce becomes possible.
Moreover, merchant may add 2% - 3% to their margins by simply unlocking these coins from their network silos.
What would you say if you could exchange Bitcoins, Litecoins, Bitcoin cash, etc. on non-custodian exchanges like the ones
appearing on Ethereum recently?
This is now possible with i-coins. How? just by moving the tokens from their original network to, for example, Ethereum, and
so they can be exchanged on "non custodian exchanges". They can be redeemed back as bitcoins whenever you wish.
Practically speaking, you trade bitcoins directly from your wallet.