BITCOIN ATOM (FORK): Atomic Swap enabled. Community-driven. Atom.
Hello all, I will introduce this new dipostingan about Bitcoin Atom project and for more details let's just go to the following discussion:
bitcoin Atom discusses the issues that are currently gripped by the world's most famous Blockchain. Of course it is Bitcoin. Bitcoin has since emerged from the scene, revolutionized, for having removed the mediators from the whole story, the fact that instant and inexpensive transactions have taken place, and the inability to resist the currency. All of this inspires the expansion we see today.
Bitcoin Atom (BCA) presents a completely decentralized way to exchange digital assets - with the exchange of chain atoms on board. By using its built-in hash time-locked contract (HTLCs) and its own HTLC API, Bitcoin Atom tries to interfere with the way we exchange current cryptocurrencies, providing freedom from intermediaries and centralized entities.
We believe that most of the cryptocurrency trade should be done on-chain in a decentralized way, in accordance with the original Bitcoin approach to transact in a totally unbelieving environment.
Atomic Swaps (AS), which is currently implemented through an on-chain HTLC network and potentially via an off-chain Lightning (LN) network, brings the ability to exchange assets directly between blockchains without the intermediaries involved. This capability is called the cross-linking of atoms, and we propose Bitcoin Atom support for it at its core, by bringing the US API and a set of cross-trade utilities to the original Bitcoin core software and shipping it to BCA.
Trading on centralized exchanges is a popular topic among members of the cryptocurrency community, especially with the increasing volume of trading and crypto prices led by Bitcoin. However, discussions can often revolve around the issues facing exchange users, due to the number and complexity of the steps involved, and the various issues that can arise.
Typical trading processes on third-party exchanges include the following steps:
1. registration
2. verification
3. verification process
4. deposit your exchange account
5. make a reservation
6. make a withdrawal
7. the withdrawal process
8. receive coins
All of these steps can take a lot of time, usually from 3 to 5 business days, depending on the exchange provider.
Now let's take a closer look at what the crypto exchange process is going through Atomic Swaps:
1. Place your order inside your knot
2. accept your Kripto Distractions
You can easily open your BITCOIN ATOM node and immediately place a sell / buy order without any hassles or intermediaries.
Key Benefits of Atomic Swap Above Centralized Stocks
Better Trade
REMOVING delays (caused by missing deposit / withdrawals, server downtime, etc.)
RETENTION your private key, preventing the possibility of losing your coins (ie Mount Gox).
MINIMIZE potential security breach.
Keep your personal identity (without any verification process).
DECENTRALIZE entire trading process so it is really peer-to-peer.
REDUCE trading costs to a minimum.
Bonus for Bitcoin Holders
All Bitcoin holders who have their private key at the time of fork (block TBA number) will receive Bitcoin Atom for 1 BTC = 1 BCA. You need to control your Bitcoin private key to claim and transact Bitcoin Atom.
Bitcoin Atom is a fork of blockchain Bitcoin with a major protocol upgrade that will occur in mid-December (block number TBA). On a predetermined block number, the original BTC block will be attached to the BCA, and any transactions made since then will be completely separate on the Bitcoin and Bitcoin Atom networks. At that time, Bitcoin Atom will live on the mainnet and become a fully functional crypto.
Specification
Ticker Symbol:
Maximum BCA: 21 Million
Distribution: Mining, Minting, Claiming
PoW algorithm: SHA256
PoW Block Interval: 10 Minutes
PoS Block Interval: 10 Minutes
Block size (actual): 1M (2-4M)
Difficulty adjustment: 2 weeks
Average Tx confirmation time: 5 Minutes
Swap atoms: Yes
Segwit: Yes
Re-protection: Yes
Unique address format: Yes
Roadmap
Author: adifariz
Bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1279352
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