Kamis, 05 Juli 2018
Blockchain-powered technology is intent on leading the future of financial markets. One of the greatest market challenges is the remaining necessity of trust towards centralized financial services in an otherwise decentralized environment. Third party custody risks affect ecosystem sustainability, bringing vulnerability to manipulative and regulative actions.
The aforestated problems are what the blockchain industry is currently faced with and yet fails to solve. Being on the way to achieving its mass adoption, the industry is expected to solve these issues only with a fundamentally new approach based on the idea of decentralization of digital assets exchange. As a reaction to the current challenges of the industry, Atomic project was created - a convenient and versatile decentralized solution for the custody-free cryptocurrency trading.
Atomic Wallet platform is based on a unique, proprietary engine, specially designed to solve its specific tasks. Therefore, this White Paper contains a large number of technical terms describing certain elements of the platform. Each original term is highlighted in bold and italic when first encountered in the text: for instance, Atomic Swap. At the end of the paper, a glossary with detailed explanations of the terms is available.
A cross-chain is an exchange of cryptocurrencies between users. Basically, party A sends Coin A to party B’s Coin B address via blockchain, while party B does the same with Coin B. These actions happen independently on parallel blockchains, in a one-way fashion. Such setup raises the possibility of either of the parties never honoring his/her end of an agreement. One of the ways to solve this issue is involvement of a trusted third party. An atomic cross-chain swap, on the other hand, solves this problem without the need for a third party.
Atomic swaps require each party to arrange a transaction contract. The contracts contain an output spendable by the the opposite party, but the rules required to collect is are different for each party involved
Atomic Swap technology:
The first party (called the initiator) wishes to trade Coin B for Coin A with the other party (called the participant). The initiator allocates the intended amount of Coin B to a contract and generates a “secret”. The secret will later allow the participant to collect the contract output. Until he/she learns the secret, the participant is unable to spend from the initiator's Coin B contract.
The participant creates a contract on the Coin A blockchain in a similar to the initiator fashion. To create the contract, the participant requires a cryptographic hash of the initiator’s secret. The initiator could not access this contract without revealing the secret to the participant.
After both parties created their contract, neither of them can collect their coins back until the alloted time expires. The initiator redeems the participant’s contract, thereby revealing the secret to the participant. The latter redeems the former’s contract using the secret extracted from him/her.
- Exchange - Use decentralized Atomic Swap Exchange to proceed with cross-chain swaps avoiding third party risks. Instant limitless exchange service provided by Changelly. Fixed rate exchange provided by ShapeShift.
- Secure- Strong encryption and custody-free solution guarantees our clients the highest level of security. We never transmit keys from the device. Your funds are controlled only by you.
- Multi-currency - Atomic Wallet currently supports 300+ coins and tokens. It's the most convenient way to handle all your crypto assets. The list is updated on a daily basis and we keep hunting for more!
A smart contract based on the Ethereum network is written for the effective implementation of the Atomic ICO project. On the day of the ICO launch, the Atomic team will publish the smart contract, which will initialize the issuing of AWC-tokens based on ethereum in accordance with the ERC20
standard.
Atomic Wallet will issue own token, called the AWC (Atomic Wallet Coin). A strict limit of 100M AWC will be created, never to be increased. AWC will run natively on the Ethereum blockchain with ERC20.
- Type: ERC20 Token
- Ticker: AWC
- Full name: Atomic Wallet Coin
- Decimals: 8
- Total supply: 100,000,000 AWC
- Open Contract Source Code
- Token economy and premises to following price growth is described in a special charter.
For Information
Website: https://atomicwallet.io/
Whitepaper: https://download.atomicwallet.io/atomicwallet-whitepaper.pdf
Telegram: https://t.me/atomicwalletchat
Twitter: https://twitter.com/atomicwallet
Facebook: https://www.facebook.com/atomicwallet
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