Atomic Wallet | The First Wallet with Atomic Swaps

markascoinind (28)in #ico • 5 years ago

ATOMIC WALLET ECOSYSTEM

The success of the Atomic Wallet is contingent on the participation of a variety of different users. We will briefly give an overview of the key roles that participants can play in the Atomic ecosystem.

Traders. End-users that hold, convert and transfer blockchain assets.

Blockchain Assets Issuers. People, companies, communities, organizations or foundations that issue new Smart Tokens, configuring the initial supply, price, CW, and managing the initial issuance of tokens. This also includes creators of Relay Tokens, which can connect any existing ERC20 tokens to the network.

Cryptowhales. Traders with the amounts of assets too big to be normally adopted by openmarkets and willing to perform personalized or non-personalized risk-free OTC deals.

Arbitrageurs. Traders that monitor the Decentralized Orderbook for prices that are inconsistent with an external exchange, and then restore price consistency through arbitrage. Arbitrageurs are organically incentivized to keep prices consistent and hence are important participants in the Atomic ecosystem.

3rd party developers. Companies or individuals creating services utilizing Atomic Wallet DOB and Atomic Swap code. Developers can build specialized Atomic Wallets, exchange Relays, Decentralized OTC platforms or implement part of the Atomic functionality in their existing services.

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.

When a certain period of time (typically 1 hour) expires and the participant did not redeem the contract output, it is refunded back to the initiator's wallet. The participant's contract can also be refunded back to the participant, but only after half the period of time that the initiator is required to wait before their contract can be refunded (typically 2 hours).

The initiator can also trade Coin A for Coin B and the procedure will be the same, but with each step performed in the opposite direction on another blockchain. This procedure is considered atomic (i.e. with a timeout) since it gives each party at least 24 hours to redeem the coins from the opposite blockchain before a refund can be performed.

Atomic Wallet Features:

· Atomic wallet platform is multifunctional and serves more than three hundred kinds of crypto currency.

· The system is decentralized, and is economical in maintenance.

· Excellent, easy-to-maintain, advanced and intuitive interface creates excellent working conditions.

· The availability of the site for any operating system will provide a significant expansion of the target audience.

· Safe storage of funds. A reliable security system makes the purse and personal data of each participant inaccessible to illegal actions.

· Transparency of the system provides control over payment transactions, which provides additional security for the project.

· The mobile application helps to scale the project and its availability in all corners of the world.

· Crediting of crypto-currency funds on a purse.

· Exchange transactions inside the wallet.

· Using the SPV (simplified transaction verification) system.

Terms and conditions of ICO:

Name of the token: AWC (Atomic Wallet Coin)
Standard: ERS-20
Total number of released tokens: 100 000 000 AWC
Price of the token: 1 AWC = 0.3 USD
Accepted currency: ETH
End of ICO: September 1, 2018
Soft cap: 5 000 000 USD
Hard cap: 23 000 000 USD

Conclusion:

In conclusion, I would like to note that the Atomic Wallet project is of great interest for investment, as all the invested funds will be able to gladden investors with dividends and payments through the loyalty program and the reward system. The developed mobile application helps to scale the project and the availability of its tools and assets anywhere in the world. So it will ensure a significant increase in the cost of the asset. It remains to wish for the adoption of the right decisions, successful monetary investments and prompt rewards and dividends.

TEAM