  Since the creation of Bitcoin in 2009 we have seen a great push towards
public and private blockchains. In order to avoid fragmentation, a global
network connecting all these blockchains is envisioned. Just like the Internet
facilitates communication and the transfer of information, we propose a system,
similar in size and reach for payments and transactions: A
cryptographically-secure off-chain multi-asset instant transaction network
(COMIT) can connect and exchange any asset on any blockchain to any other
blockchain using a cross-chain routing protocol (CRP). COMIT is a super
blockchain network that allows for instant transactions which are enforced
using off-chain smart contracts. It leverages Payment Channels and Hashed
Timelock Contracts (HTLC) across chains to solve the problem of double spending
attacks without requiring a settlement onto the underlying blockchains. COMIT's
connectivity is provided by Liquidity Providers (LP), who operate on one or
more blockchains, acting as payment hubs and nodes on a single chain and market
makers in a decentralized network for cross-chain asset conversions. This paper
lays out how COMIT works, the benefits for Users, Liquidity Providers and
Businesses; and how this does not only accelerate the adoption of blockchain
technology, but furthermore allows for an integration with the traditional
banking system.
