Cryptocurrency market draws attention of customers, media, business, hedge funds and even filmmakers. Unfortunately, regulators do not stay aside and give a lot of their attention to the blockchain market as well. The fundamental idea behind Bitcoin is a censorship-free currency without a central bank, the immutability of which is to be empowered by the financial incentivisation of the stakeholders. Egalitarian permissionless approach showcased by this cryptocurrency contradicts the regulation created for fiat money markets and so is a subject to scrutiny by the officials. However, while being at the early stage of the development, it is essential to preserve this approach for the further market development and expansion. For the only way of keeping the promise of the Bitcoin manifest is to carry on developing decentralized immutable solutions.
Asset management
ATOMIC WALLET provides a powerful, in-demand service that allows users to reduce efforts spent on managing crypto assets and renders it transparent and trustless. To make our platform even more convenient and beneficial for users, the Atomic Wallet team utilizes best UI and security practices thus facilitating use of our platform’s functionality to the full range. Essential operations one would like to do with his\her cryptocurrency are:
1. Receive crypto assets to the generated wallet
2. Import assets to the wallet using private keys of various formats
3. Store private keys in a securely encrypted environment
4. Send assets to other addresses
5. Select cryptocurrency node to use
6. Select blockchain explorer to use Aforestated wallet functionality will be built on the SPV (Simplified Payment Verification) technology.
This allows customers to avoid prolonged blockchain synchronization while preserving the security of so-called ‘full node wallets’. The keys are stored in an encrypted manner on the end-user device or a hardware wallet (eg. Ledger, Trezor, etc.) Keys can be backed up with the passphrase for all the listed currencies or with a string format key for each currency.
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 lists the number of asset units being bid or offered at each price point, or market depth. It also identifies the market participants behind the buy-and-sell orders, although some might choose to remain anonymous. The Orderbook is dynamic and constantly updating in real time throughout the day. The approach to the construction of the blockchain exchanges (e.g. Binance, Mt. Gox, Bitfinex etc.) has been copied from fiat operators, like NASDAQ, NYSE, LSE, ending up with failures happening one after another. Besides the well-known custody-centric fails, market manipulation through falsification and distortion of market data, unfortunately, happens as well. Howbeit, blockchain establishes new forms of financial products. Adopting new opportunities this technology brings is the most guaranteed way for promising and smart projects to skyrocket. One of the undervalued possibilities is the creation of a completely decentralized and transparent Orderbook.
DOB anti spam and fraud protection
In many ways DOB mempool works as the widely known and high-load production verified Bitcoin Mempool and has a very similar realisation. This ensures us in a high level of attack resistance of the solution and a very unlikely possibility of spam and fraud within the network. However for the first period of operation Atomic Wallet team leaves itself the right to blacklist fraudulent and spamming actors from the network by blacklisting addresses or public keys by signatures. Centralized nature of such verification should not and will not last for a long time. The complete decentralization of the DOB blacklisting will be finished with the release of decentralized ratings system planned in the Roadmap.
Trades history blockchain storage
ATOMIC WALLET will use a custom-built Byzantine consensus algorithm that keeps DOB historical data safe without needing to “mine” blocks, even in the case of a situation where your nodes malfunction or become susceptible to the actions of bad actors. This feature also makes it near impossible for a bad actor to add incorrect data or change the history in ATOMIC WALLET Blockchain. In case of many compromised nodes, ATOMIC Blockchain still maintains its fundamental security properties, protecting data. ATOMIC WALLET Blockchain will update immediately with the addition of every new block. ATOMIC WALLET will gather successful and unsuccessful trades into blocks; the whole block is approved atomically. Each trade is executed separately from the ATOMIC WALLET Blockchain. ATOMIC WALLET Blockchain will be used only in the purpose of storing historical data. As every block includes the hash of the previous block, it is impossible to change one block without the appropriate changes to each of the following blocks. This ensures immutability of the trade log; once a trade is committed, it cannot be retroactively modified or evicted from the log. Similarly, it is impossible to insert a trade in the middle of the log
ATOMIC WALLET uses a custom modification of Byzantine fault tolerant consensus to guarantee that in any time there is one agreed version of the blockchain. It is assumed that the environment is decentralized, i.e., any node is allowed to fail or be compromised. Consensus is authenticated; consensus validators are identified with the help of public-key cryptography. To generate a new block and vote upon it, a 3-phase approach is used.
● The consensus algorithm is divided into rounds, the beginning of which is determined by each validator based on its local clock. For every round, there is a predefined leader validator, which is determined based on the round number, blockchain height and other information from the blockchain state. The leader creates a block proposal and sends it to other validators
● Other validators check the proposal, and if it is correct, vote for it by broadcasting prevote messages to the validators
● If a validator collects prevote messages for the same proposal from a supermajority of validators, it executes transactions in the proposal, creates a precommit message with the resulting data storage state and broadcasts it to the validators
● Finally, if a validator receives precommits from a supermajority of validators for the same proposal, the proposal becomes a new block and is committed to the local storage of the validator
Historical data from the blockchain will be used in the purpose of public actors rating system. Public actor rating will be counted on the basis of the number of successfully finished exchanges. Data is collected with the help of blockchain oracles from the networks where Atomic Swaps are processed.
Atomic SDK
Developing even simple applications working with blockchains takes time and money. Creating complex, highly-functional distributed blockchain apps can take a number of highly skilled blockchain developers, thousands of hours for RnD which comes out in millions of USD costs. Following the promise of building a completely decentralized solution Atomic Wallet team will provide the following:
1. Availability to develop applications working with ATOMIC WALLET DOB and Atomic Swaps code. The protocols will be open and available for integration.
2. Developers SDK to smoothly integrate ATOMIC WALLET exchange functionality without having to mess with complicated protocols.
ATOMIC WALLET will provide a solution to organizations looking to quickly create and deploy highly functional, custom apps to manage cryptocurrencies with Atomic Software Development Kit (SDK). Atomic SDK will support following functions:
2. Confirm order execution
3. Receive order execution status
4. Get list of available orders from the orderbook
Atomic token
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. Initial Coin Offering (ICO) Token issuing 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. The contract will support following functionality:
1. Crowdsale management
2. AWC tokens issuance (standart ERC20)
3. AWC tokens transmittance The main function of the crowdsale part of the contract is to regulate the price of the token. Additionally, this smart contract will keep records of the AWC-tokens provision to investors’ community and to founders.
Post ICO token circulation AWC tokens on exchanges Next stage will start in a month after the ICO. The AWC tokens will become "transferable", meaning that the holder can utilize them. Token economy AWC token will be used to pay for different fees on Atomic Wallet platform, including but not limited to:
● Listing new assets in Atomic swap exchange Each cryptocurrency, foundation or token will be able to purchase integration within the ATOMIC WALLET swap exchange market for the AWC-tokens. The price of integration will be 150,000 AWC-tokens.
● Highlights and featurings in ATOMIC WALLET interfaces Each cryptocurrency, foundation or token will be able to purchase promotion within the Atomic Wallet GUI for the AWC-tokens. The price of integration will be determined in each particular case AWC-tokens.
● Atomic swap usage For the swaps exceeding 1 BTC since the end of 4Q 2018 users will be obliged to have at least 0.5 AWC token on the same Ethereum address with the one used by the ATOMIC WALLET
● Increasing atomic swap rating Each customer will receive a public rating which will influence his/her position in ATOMIC WALLET Orderbook GUI. The rating will be determined on the basis of successfully completed swaps and the volume of trades. To boost his/her experience customer will be able to increase rating by paying in AWC-tokens. The rating mechanics will be announced in 3Q 2018.
All services paid in AWC token will be sold with a significant discount or sold only for AWC tokens. Tokens received for the abovementioned services will be burned until we destroy 50% of all the AWC.
For More Information :
Website :https://atomicwallet.io/
Twitter : https://twitter.com/atomicwallet
Bitcointalk's Profile : https://bitcointalk.org/index.php?action=profile;u=1898514
No comments:
Post a Comment