ATOMIC WALLET: A DISTINCTIVE CRYPTOCURRENCY WALLET
When Bitcoin, the world’s first decentralized currency was created, it became popular and well known in 2009. Since then its value has seen tremendous growth. The birth of bitcoin led to several hundreds of cryptocurrencies, though the main idea behind cryptocurrency is to secure and anonymous way to transfer currency from one person to another. To further develop this anonymity, Satoshi Nakamoto developed a digital ledger of bitcoins transactions called Blockchain. However, the influx of people into the market has made an astronomical rise of cryptocurrencies like Bitcoin and Ethereum, hence made cryptocurrency market popular.
Nevertheless, trading cryptocurrencies on the other hand has been another barrier which many are also yet to understand. Many often time people get scared due to the risk involved in trading cryptocurrency. It is a known fact that many of the centralized exchanges are not making trading easy for traders and investors to come on board. A lot of exchanges are being created day by day but with all sorts of problem. Problems like lack of insecurity for investors’ fund, government regulations, lack of transparency, market manipulation and lack of liquidity, verification issues, and inefficiencies.
But without much tarry, the high rise in the adoption of blockchain technology made ATOMIC WALLET to come help proffer solutions by creating a decentralized cross-blockchain exchange that is transparent, custody-free and a constant cryptocurrency trading. The platform will help connect buyers and sellers in a simple way within the decentralized ecosystem.
FEATURES AND TECHNOLOGIES OF THE ATOMIC WALLET
Multi-currency: The atomic wallet supports over 300+ coins and tokens. The Atomic Wallet is a transparent, trustless, powerful service that allows users to decrease efforts spent on managing crypto asset. For the convenience and benefit of users, the atomic wallet team makes use of the best UI and security facilities to safeguard funds of users.
Some of the necessary operations that can be done with individual cryptocurrency are:
- To receive crypto assets to the wallet generated
- To import assets to the wallet using private keys of different formats
- To Store private keys in a securely encrypted environment
- To Send asset to other addresses
- To Select cryptocurrency node to use
- To Select blockchain explorer to use
The wallet functionality will be built on the SPV (Simplified Payment Verification) technology; this will allow users to avoid blockchain synchronization issues. The keys can be backed up with passphrase and are stored in an encrypted manner on a hardware wallet.
- DISTRIBUTED ORDERBOOK (DOB): An Orderbook is an electronic list of buy-and-sell orders of specific security or financial instruments, organized by price level. The orderbook signifies participants behind the buy-and-sell orders and it lists the number of asset unit being offered or bid. The Atomic DOB is based on a BitTorrent protocol . BitTorrent is a communication protocol for peer-to-peer file sharing (“P2P”) which is used to distribute data and electronic files over the Internet.
- DOB ANTI SPAM AND FRAUD PROTECTION: The Atomic wallet is created in such a way that it will identify and blacklist fraudulent and spamming traders by blacklisting their addresses or public key.
- TRADES HISTORY BLOCKCHAIN STORAGE: By using a custom-built Byzantine consensus algorithm, DOB historical data will be safe without the need to mine blocks.
- THE ATOMIC SWAP: Atomic Swaps is a new technology that makes it possible to exchange cryptocurrencies directly and without intermediaries. Individual can exchange BTC to LTC with an incurred fixed fee without the need for third parties or centralization exchanges.
HOW TO CREATE ATOMIC SWAP ORDER IN ATOMIC WALLET
The Atomic team implemented two instant exchange options for the benefit of their users. These are:
- Shapeshift: Shapeshift is the fastest and most convenient method of swapping digital currency. This is the default option for instant exchanges in the atomic wallet.
- Changelly: These has been operating since 2015 and it is seen to be the most popular cryptocurrency exchange providing the ability to instantly exchange over 90 altcoins at the best market rate or either using bank card to buy cryptocurrency.
- Fiat option: The atomic wallet will not process fiat operations following “do not touch fiat” policy. Fiat options to be provided to the customers in cooperation with partner services.
The Atomic wallet is currently functioning, and the team has delivered a Desktop application supporting:
- Backup with 12 words passphrase
- Main net atomic swap exchange
- Asset management for BTC, ETH, DCR, LTC and 200+ ERC20 tokens
- Exchanging assets through instant exchange services like Changelly and ShapeShift.
- Importing and exporting of the private keys
Atomic token has a total supply of 100M and is being built on the ethereum blockchain. The token can be used for:
- Atomic swap usage
- Increasing atomic swap rating
- Listing new assets in Atomic Wallet
- Listing new assets in Atomic swap exchange
Type: ERC20 Token
Full name: Atomic Wallet Coin
Total supply: 100,000,000 AWC
TOKEN AND BUDGET ALLOCATION
Kindly visit the below website for more in depth knowledge about the project:
Bitcointalk username: bosunbossman
Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=1197648;sa=summary