Canton is a privacy-driven blockchain network designed for regulated financial institutions. It allows multiple parties to share data and assets securely while retaining control over confidentiality. It enables synchronized workflows across institutions without relying on a single global ledger.
Utila customers can hold and transfer Canton tokens, similar to other blockchains. However, there are several distinct elements to using Canton with Utila, given the way the Canton network works.
Wallet activation.
In the Canton network, institutions need to register their wallets (aka parties) to the Canton Global Synchronizer as a prerequisite to receiving funds and interacting with the network. Utila enables the registration of Canton wallet addresses on the Wallets page.
You can register the address when creating the wallet, when adding the Canton network to an existing wallet, or at any point in time, as long as the Canton address has not been activated.
To activate the wallet address, you need to create and sign a Canton wallet activation transaction. After creating the Canton wallet, click Activate to start the activation process.
Click Activate again to confirm.
You are asked to sign the Canton wallet activation on your mobile device.
This is what the wallet looks like with Canton coins loaded.
Transfer Offers.
The default transfer mode for tokens that follow the Canton CIP-056 standard is 2-step, which means that the receiving party needs to accept the transfer offer for the transfer to complete. Note that not claiming the offer in time may result in it being withdrawn.
To view and claim pending transfer offers, click Canton Management and then the Transfer Offers tab to create and sign a Transfer Offer Approval transaction.
Approve the transfer offer on your mobile device.
1-step Auto Approval
To avoid accepting each transfer offer separately, Utila enables you to set up an auto approval workflow in which transfers of a specific token to a given wallet may be automatically approved.
To setup auto approvals, click Canton Management and then the 1-Step Approvals tab.
Click Enable 1-step transfers to turn this feature on.
Sign and approve on your mobile device.
