Hub20 In Detail

This section will break down of the key concepts that are important to understand when using or managing an instance of Hub20.

• Payment Networks is how Hub20 abstracts any system used to transfer value. At the moment, Hub20 provides integration with:is focused on systems built on or compatible with

  • Ethereum and any blockchain that can be connected through nodes compatible with Ethereum's RPC API.
  • Raiden, a completely decentralized "layer-2" system that enables fast and cheap transfers.

• Wallets in the context of crypto refer to the system that manages cryptographic keys that are used to interact with the blockchains and are the basis of all security aspects when dealing with smart contracts. Hub20 abstracts a lot of this complexity for the users, but hub operators need to have a deep understanding of how they work and undertand best practices to keep funds protected.

• Tokens, more particularly ERC20-tokens, is a standard for smart contracts that can be used as cryptocurrencies on any Ethereum-compatible blockchains.

• Payments and Payment Routing are important for those that want to accept cryptocurrencies online. We also discuss about the checkout system and how to integrate it with your existing site or e-commerce platform.

• The accounting module is important for hub operators, given that they will be managing funds from different people and need to be able to know how much each one can claim from the funds that are collectivelly held by the wallets.