ERC20-Sidechain bridge

A short guide on how to peg-in CBT tokens from the Ethereum network to Ocean and peg-out back to Ethereum.

The following steps assume that the user is running a full Ocean node connected to the CommerceBlock mainnet. The node needs to be synced up and with RPC connectivity enabled. Connectivity to a geth node is optional but it would allow doing the same validation checks that a signing node does for the peg-in transaction.

Export the private key of the ethereum address that owns the CBT tokens. This should be in hex format, e.g. “0xcb850d9db23b54ebbeae09995f7192af83646f9ea232645bb5a71699e5c15a6e”.

Run the getethpeginaddress RPC using this private key (with the “0x” prefix removed):

ocean-cli getethpeginaddress cb850d9db23b54ebbeae09995f7192af83646f9ea232645bb5a71699e5c15a6e
  "eth_mainchain_address": "b6872561de5ba19d38071a7616d9d434b9e37860",
  "eth_claim_pubkey": "03664b8a3e065329c6bb3b8f9f0bb382179775f609ffa9ff564ea6f20e913ec04b"

Pay the CBT tokens to the “eth_mainchain_address” returned from the getethpeginaddress RPC and save the transaction id. The transaction will require a minimum amount of 10 confirmations before being allowed to peg-in.

Run the claimethpegin RPC using the “eth_claim_pubkey” returned above, the transaction id and the CBT amount as:

ocean-cli claimethpegin $txid $amount 03664b8a3e065329c6bb3b8f9f0bb382179775f609ffa9ff564ea6f20e913ec04b

Run the getbalance RPC and verify that the CBT has been pegged in to the Ocean network.

To peg-out this CBT will require running the sendtoethmainchain RPC specifying an address to send the CBT to as well as the amount to peg-out:

ocean-cli sendtoethmainchain 8e8a0ec05cc3c2b8511aabadeeb821df19ea7564 0.1