ATOMIC WALLET; IMPROVING THE MANAGEMENT OF CRYPTO ASSETS IN A SINGLE EXCELLENT INTERPHASE

mayowa-eu (60)in #atomic • 6 years ago (edited)

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It’s an unarguable fact that the next technological evolution is the blockchain technology which is currently been utilized by some of the major global industries.

The earliest history of cryptocurrency can be dated as far back as year 2009 when bitcoin was created by Satoshi Nakamoto, this was an excellent step towards creating another new revolution for the world technology, thereby offering openness, transparency and independence to its mechanism of action, the adoption of the technology lately is growing at a very fast pace.

CHALLENGES FACED BY THE BLOCKCHAIN TECHNOLOGY

This blockchain revolution adoption by some sectors has also brought about tremendous appreciation in the value of cryptocurrencies which was very evident in the year 2017 when most cryptocurrencies had their price sky-rocketed.

This industry (blockchain) has an intention of getting a lead in the financial market world. Decentralization as we all know is the distinctive feature of this technology, but still yet, some major challenges are been faced by the technology which is greatly resulting in its setback.

The most challenging setback is the inability of users trusting the centralized operations by some platforms or organization claiming decentralization policy.

We need not neglect the fact that most cryptocurrency exchange platforms lacks the feature of transparency, independence and openness as proposed by the founder of blockchain technology, which to a greater extent exposes several cryptocurrency investors to the risk of losing their funds.
Emphasis also need to be done on security challenges been faced by some of the major exchanges too, security breach can result in great failure of any major platform.
Another major challenge hindering the development of blockchain technology is the problem of regulation by the government which is contrary to the main purpose of its innovation by Satoshi Nakamoto, therefore there’s urgent need to maintain this line of decentralization of the industry as opposed what’s been done by government.
Most cryptocurrency experts no longer have trust for cryptocurrency exchanges any longer, this is because most of them are centralized in their mode of operation and also do a lot of manipulation of current market data which misleads investors leading to massive loss of funds.

INTRODUCING ATOMIC WALLET

In order to achieve a total adoption of this technology globally, there’s a need to find a lasting solution to these challenges lingering around the technology, this is the sole reason behind the creation of atomic project which will provide a convenient and versatile solution for decentralized free trading of cryptocurrency.

Shown below is a screenshot of the wallet application homepage

ATOMIC SDK

The Atomic wallet team will provide the ability to develop applications working Atomic wallet DOB and Atomic swap code which will have an open protocol and available for integration.

The Atomic SDK shall support the following features;

Confirmation of order execution
Receiving order execution status
Creation of order and deployment to DOB
Get a list of available orders from the order-book.

The atomic wallet platform is created on a very unique and proprietary engine that is designed to perform some specific tasks such as management of assets and order-book implementation.

The asset management feature of the wallet will be based on the following operations;

Receiving of crypto assets to the generated wallet
Importation of assets to the wallet using private keys of various formats
Selection of cryptocurrency node to use
Selection of blockchain explorer to use
Storage of private keys in a securely encrypted environment
Sending of assets to other addresses

All of these will be as a result of building the wallet on Simplified Payment Verification (SPV) technology.

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Atomic Distributed order-book will be done in a way to make a representation of market orders in a decentralized form which is based on a BitTorrent protocol.