A detailed Review of Atomic Swap Wallet
Posted December 12,2018 in Economics and Trade.
The world has seen the increase in adoption of blockchain technology, just as it has seen as much significant blockchain fraud cases.
Frequently, close to the end of the first quarter of the year, there were roughly24 million blockchain wallet cryptocurrency users globally. Yet, with its reputation became its exposure to fraudulent ventures. In the year 2014, Mt Gox, which is a cryptocurrency exchange platform for cryptocurrencies, which was hacked for the second time with over 850,000 bitcoins.In the year 2016, Bitfinex, also one of the famous cryptocurrency exchange, suffered a loss of about 120,000 bitcoins or 808 million USD in todays present value. Just January this year 2018, the Tokyo-based cryptocurrency exchange,Coincheck lost about 500 million NEM coins or 550 million USD as it was worth back then
In the event of cryptocurrency exchange platforms, an area of development originates in a form of Distributed Orderbook (DOB) and Atomic Swapping. Therefore, the Atomic Wallet is a crop-up cryptocurrency exchange platform, which is setted to metamorphose the aspect of cryptocurrency shifts and exchanges.
This project is a platform for carefree, transparent crypto-trading, which allows users to reduce the effort expended on managing crypto assets. In order for users to be comfortable and comfortable to trade, the development team uses the best user interfaces and security methods, which facilitates the use of the platform functionality in full.
Get crypto assets in a generated wallet.
Import assets into the wallet using secret keys of various formats.
Store secret keys in a secure, encrypted environment.
Transfer assets to other addresses.
Select a cryptocurrency node for use.
The wallet's functionality is built on SPV technology (simplified payment), which allows customers to avoid long blockchain synchronization while maintaining security. Keys are stored in encrypted form on the end-user device or hardware wallet (for example, Ledger, Trezor). Keys can be copied with a code phrase for all currencies represented on the platform or using the string format for each currency.
Adistributed book (DOB)is a way of presenting market offerings in a decentralized way. DOB is based on the BitTorrent protocol.
Atomic DOBis an immutable and decentralized solution designed to transmit information about transactions among users of the Atomic wallet platform.
An order is an offer, not an obligation. Creating an order, the client sends an ad for future trading. When it comes time to trade, the client can avoid processing the transaction if he so wishes. He faces a moderate decline in his rating in the event of failure to trade. Placing orders with Atomic Wallet does not block customer funds. If the orders do not match between the two traders, the funds are not moved.
The order can be executed in several transactions.
Offline traders can not trade. If the user logs out of the Internet or closes the wallet application, the order becomes invisible to other traders.
Atomic Swap technology is the best among the rest, because even inside the client of the exchange, control over private keys is retained.
Atomic Walletcollects successful and unsuccessful transactions in the block. The entire unit is approved atomically. Each transaction is executed separately from the Blockchain Atomic Wallet.
Atomic Walletwill be used for data storage purposes only. Since each block includes the hash of the previous block, it is impossible to change one block without corresponding changes to each of the following blocks.
Atomic Walletis designed as a multicurrency lightweight wallet that supports a large number of top coins.