The blockchain industry holds the future of financial transactions and market, however, we are not there yet because this sophisticated industry has not yet attained mainstream adoption, but it will in the coming future and the crypto exchange have a great part to play in the realization of that future.
AN OVERVIEW
Imagining a crypto world without crypto exchange, is like having a car without fuel, as you won’t be able to move around regardless of the fact that you have a car.
The blockchain is growing rapidly since its inception and with every passing day new problems arise which require innovative minds to fix, a lot of crypto exchanges which started way before now are no more and even some of their owners are in jail for accounts of fraud.
Blockchain is gradually driving towards mainstream adoption, and to do so the exchange platforms needs to be ready to handle the figures that will be coming in.
There have been quite a few challenges with crypto exchanges and today, I am here with the solution, the ATOMIC SWAP WALLET.
ATOMIC SWAP WALLET is peer-peer exchange which will be integrating a next-generation wallet to its peer-peer exchange features to bring about an adequate next-generation exchange.
PROBLEMS ASSOCIATED WITH EXISTING EXCHANGES
Below are a few problems with existing exchanges.
Lack of transparency: the blockchain is built on the foundation that provides the most transparent means of transactions, but some exchanges go against that very foundation by making use of falsified market data.
Lack of enough coin exchange option: according to coin cap, we currently have over 1500 coins in the market but the sad part, very few of these coins can be found in the exchanges because today's exchanges only trade coins with a good value
Lack of security: the blockchain has the most secure tools for adequate security, but it’s been let down by exchanges such as coin dash, bitpay, Mt.Gox and many more which were not secured enough and were hacked; they actually fell for the hackers because of how porous their platform was.
THE ATOMIC EXCHANGE SOLUTION
Atomic will have its own sophisticated and secure wallet which will have the capacity to house over 300 different types of coin, unlike other wallets, and same goes for the exchange.ATOMIC Wallet will have the following capacities:
Receive crypto assets
Import assets using private keys of various integrity
Safe storage of the private key
Sending of assets
Select crypto node for use
Select crypto explorer
The wallet functionality will be built on the simplified payment verification (SPV) technology, which will eliminate prolonged blockchain synchronization and at the same time preserve the security of the full node wallet
The ATOMIC exchange will be making use of an immutable and decentralized solution which is created to transmit information about the exchange orders among the Atomic wallet users, and this done by an Atomic DOB.
With this DOB, all created orders on the exchange will pass through the client’s wallet for verification by all the wallet clients available and the following are what is evaluated by clients.
Data consistency
Order legitimacy
Blacklist screening
The DOB will also function as an anti-spam and help fight against fraud, while an Atomic swap will be used during a peer-to-peer transaction, functioning as a third party with the use of a contract by both parties which ensures both parties get their desired trading result.
The Atomic UI will also be a thing unlike we have ever seen before and it will be facilitating ease in navigation.
IN CONCLUSION
Atomic will have its own token called AWC (atomic wallet coin) which is going to be an ERC20 Token, and their ICO will be processed using an Ethereum smart contract. This project is the first of its kind and its worth partnering with; join the ICO today and be a part of this innovation in the cryptocurrency industry. The links below will help you with lots of information about the project and its ICO:
WEBSITE |
ANN |
WHITE PAPER |
TOKEN | TWITTER|
TELEGRAM
| REDDIT |
GITHUB |
MEDIUM
Author: mordic
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=2318611
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