Recently, Bitcoin hit a record high and it is the hottest topic out there along with its blockchain technology. All new projects want to centred around blockchain technology because of its volatility. Some companies even have their taglines changed just to be associated to the field of blockchain and stay in the market. This gives us an idea how important blockchains and ICOs are going to be in the future. This growth has skyrocketed in recent times and has left many cracks that are yet to be filled. This is where COMSA comes in. COMSA is an initiative by Tech Bureau Corp. that provides ICO solutions for centralized businesses to adapt to blockchain technologies. COMSA wants to reduce the gap between businesses and public blockchains. It proposes to bridge NEM, Ethereum and Bitcoin public networks together with the Mijin private blockchain that its enterprises will be using.
NEM
It is a public blockchain with a market cap of almost $2 billion USD which uses the newly developed Proof-of-Importance algorithm instead of the old Proof-of-work mining.It has its own currency XEM. The NEM blockchain software is used in a commercial blockchain called Mijin. It uses its Smart Asset Model instead of the old programming based contracts.
MIJIN
This is sold by Tech Bureau and is a private blockchain platform. Interestingly, it was developed by the same developers as that of NEM. It helps in restricting the users that can be participate in a blockchain. Mijin can easily replace expensive ledger systems and reduce operational costs. In addition to that, Mijin has no downtime which means that the system never goes down.
ZAIF
It is one of the largest and the oldest operating crypt exchange in Japan and is part of the solution offered by COMSA. It will help businesses by listing their token on the Zaif exchange.
COMSA SOLUTIONS
As defined on their website, "COMSA is a conduit for future ICOs that want to exist in the COMSA ecosystem." COMSA will help companies with their ICOs and also in implementing blockchain technologies into their businesses. It will also provide other features like creating whitepapers, blockchain integration services and PR services, dedicated for your own ICO. It will provide ICO solutions by helping new business conduct their own ICOs in the COMSA platform, the first one being their own ICO. It will provide token solutions by listing your tokens on the Zaif exchange. COMSA will be a platform for companies to raise cryptocurrencies by using independent blockchains of Ethereum, Bitcoin, and NEM.
COMSA is made up of two parts:
COMSA CORE
This is where flow of tokens between NEM, Bitcoin and Ethereum blockchain takes place. It manages transfer of cryptocurrency flowing into the COMSA master account. COMSA CORE consists of a controlling application, an oracle application and 2 Mijin private blockchain networks built on 9 cloud server machines.
Oracle is an application within COMSA responsible for analyzing and authorizing any outgoing transactions. COSMA CORE is a two layer ledger where the first ledger is dedicated for conversion of native cryptocurrencies and second one is for conversion among tokens.
COMSA HUB
It is a software for licensed holders of Mijin private blockchains to control tokens between master public blockchains and internal private databases.
On detecting any 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. In short, it converts the currency from that on mijin to the currency that is supported on the public blockchain. COMSA acts as a mediator for conversion of currency.
ICO
COMSA's own ICO will be the very first on their own platform which will help in raising capital and accelerating growth of their existing core businesses like Zaif, and Mijin. The symbol for their token is CMS and participants will receive 1 CMS per 1 USD. There is no hard cap.
At the end of the token sale, based on the number of tokens issued for the participants, an equal number of CMS tokens will be issued and issuance will be locked. In other words, 100% more will be issued over the subscribed number. Of this 100%, 10% will be distributed as referral bonuses to token sale referrals. 40% will be distributed to the existing management team, stakeholders, developers, employees, contractors, and COMSA ICO committee management. 50% will be retained by Tech Bureau for future development, future distributions, marketing, partnerships, compensations, and expansions. This leaves 55% of grand total to be distributed to its contributors.
CMS holders who bought their CMS from COMSA's token sale exercise will enjoy a premium bonus of 5% for every CMS they use to participate in any future ICO campaigns on the COMSA platform.1
There might be certain projects that are risk to token buyers. To tackle this issue, COMSA will put the projects to vote. All CMS token holders will be eligible to vote.
REVIEW
COMSA is a revolutionary project and is bound for great success according to me. It is a platform for other businesses to hold their own ICOs thus bridging the existing gap between companies and blockchain technology. It is led by a strong team and should not have any issues in settling down. One problem I see is that COMSA's own initial ICO is uncapped, so it is really difficult to predict the outcome. We should be patient and wait till at least end of ICO.
