Summa provides unique financial products for unique markets. Blockchains are changing finance. We specialize in cross-chain contracts, tokenized securities, and other innovative instruments for the new economy.
Summa provides high-impact financial tools for the new economy. We help our customers adjust exposure to a wide variety of cryptoassets via unique cross-chain instruments. Our contracts are private, self-enforcing, and self-settling. Reach out to see how we can help you reach the efficient frontier.
The last 2 years have seen an explosion of cryptoassets. Unfortunately these assets are generally siloed in separate chains. The cryptocurrency ecosystem demands to be connected. Summa has expertise working with every significant blockchain architecture. We create contracts that link assets across chains, opening up a world of new possibilities.
Summa is the only technical provider of cross-chain contracts. Our systems are trustless and non-custodial, allowing for extrmemly efficient and secure financial transactions.
Summa connects cryptoassets regardless of blockchain architecture to enable private, self-enforcing, and self-settling cross-chain contracts.
Our users' funds are never handled by third-parties. And once a trade has been executed, no one can interfere with on-chain settlement.
Summa’s Auctions is the first product in our upcoming suite of cross-chain financial products. Our technology uses a first-of-its-kind series of smart contracts to enable cross-chain transactions between Bitcoin, Ethereum, Litecoin, and Zcash. Summa’s products aim to help mature the cryptocurrency financial landscape by allowing users to express cryptocurrency price sentiment and manage portfolio risk and volatility.
ETH2.0 is the planned replacement for Ethereum. Over the next several years, ETH2.0’s designers intend to completely subsume Ethereum’s consensus system and state altogether. With such a broad scope, we can’t say precisely what ETH2.0 will or will not include. We do have a few specs, and quite a few teams working on early implementations. At this point, the ETH2.0 designers tentatively plan to include sharding, Casper, state rent, and an eWASM VM. Initial client testing is underway, and a feature-light ETH2.0 testnet is expected to launch within three months (Q1 2019). At first, ETH2.0 will source its Ether (but not its security) from the main Ethereum chain, but designers eventually plan to invert the relationship by making ETH2.0 the main chain, and Ethereum 1.X a shard chain under its management.
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One of the fundamental goals of a blockchain is resolving the “double spend” problem. In a nutshell, this means preventing someone from sending the same coin to two people. However, beyond just simple spend transactions, it applies any time two transactions want to update the same state. This could be someone trying to duplicate Bitcoin, or two people trying to buy the same CryptoKitty. For the sake of generality, we’ll call it the “double update” problem. Fundamentally it’s about ordering: when we see two things, how do we decide which is first, and what happens to the second one?
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On November 15 at 10 am PT, Summa will run the world’s first cross-chain auction. We’ll auction 10 non-fungible tokens (NFTs) on Ethereum for Bitcoin in a completely trustless process featuring direct interaction between Solidity smart contracts and Bitcoin payments. These 10 tokens are unique badges of participation in the first cross-chain auction. For a higher-level introduction to our products and instructions on how to participate in our auction, check out this post. Our auctions and smart contracts verify proofs of Bitcoin payment on-chain to power cross-chain communication. This means fast, efficient cross-chain interoperability without oracles, trusted third parties, or centralized exchanges. We tried hard to streamline the auction app’s user experience such that many technical aspects are difficult to notice. This post gives you a quick peek behind the curtain into one of the underlying tools: Simplified Payment Verification (“SPV”) proofs. SPV Proofs are compact proofs of payment. They can be used to prove to a client that isn’t running a full node that an on-chain payment actually happened.
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