AWC: ATOMIC WALLET REVIEW

adaoramma (46)in #blockchain • 6 years ago (edited)

The advent of crypto currencies took the world by storm, much more the advent of bitcoin. It proved to be a status breaker in the financial ecosystem. With the promises of a decentralized strong financial hub giving individuals power aiding them take charge of their financial assets themselves without third party interventions, handing total financial control to the people. This promises led to the massive adoption of bitcoin during its early days.

Despite the massive adoption of bitcoin and its ever-increasing user base, there still exists major teething problems that has become a clog holding this wheel of change of this currency. Ranging from,

Issues of trust towards centralization of financial services.
Third party ish which begets insecurities in the system.
Excessive Regulative conttrols.
Market manipulations by the big boys.
Insufficient transaction volume,
Sluggish authentication time,
humongous transaction fees
Inflexibility etc.

In fixing these flaws, countless schemes have been launched. Many tried to fit in their changes while presenting new features, however good these inventions are, they failed to comprehensively handle or present a viable solution.
In a turnaround attempt, Atomic Wallet, a decentralized solution for the custody-free cryptocurrency trading system with a humongous performance takes on headlong these teething glitches teething bitcoin alongside other cryptocurrencies. Atomic Wallet is built with a lone which is based on a unique, proprietary engine, specifically designed to solve its
specific tasks.

AN OVERVIEW OF ATOMIC WALLET ASSETS

HOW THE PLATFORM WORKS.

Every launched project is launched to perform some functions it is designed to do. Hence,
Atomic Wallet is no different. It has been designed to provide an efficient and powerful, in-demand service that enables it's users to reduce efforts spent on
managing crypto assets which makes it transparent and trustless.

ATOMIC WALLET UI OVERVIEW

Atomic Wallet makes use of the most effective UI and security practices
which facilitates the use of the platforms functionality to the core. All thanks to the Atomic team for developing this great innovation.

It's is paramount to note that in the crypto space, 6 things cannot be omitted. Every user of the cryptocurrencies must either:

Receive crypto assets to the generated wallet. There must be a sender and a receiver of the crypto assets.
Import assets to the wallet using private keys of various formats. Every wallet have what it's called private key, PK. Usually, crypto users are deemed it necessary to import their crypto assets if need be.
Store private keys in a securely encrypted environment. Private keys are security sensitive. It is however tantamount for crypto users to store the private key to their assets in a secured and decentralized place.
Send assets to other addresses. There must be a receiver of assets.
Select cryptocurrency node to use.
Select blockchain explorer to use. Hence, with the use of the Atomic Wallet, all these are brought into a reality in a more effective and efficient way.

Furthermore, Aforestated wallet functionality will be built on the SPV (Simplified Payment Verification)
technology which allows customers to avoid prolonged blockchain synchronization while preserving its security.

HOW ATOMIC WALLET STORES KEYS.

The keys are stored in an encrypted manner on the end-user device or a hardware wallet say Nano Ledger, Trezor, etc.These keys can be backed up with the passphrase for all the listed currencies or with a string
format key for each currency.

To cap it, the Atomic Wallet will be the first ever project used by countless facilities with its simplified payment verification, UI and complete node surety, conception and API calls.