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ATOMIC WALLET: SOLUTION TO THE CRYPTO MARKET CHALLENGES

TuvicOct 23, 2018, 10:17:55 AM

The blockchain technology has witnessed a very huge development in recent years, there has been development of many cryptocurrency market which are blockchain based projects to the extent that there is no doubt about the potential of the blockchain as a powerful and advance technology for the future. However there have also been development of blockchain technology that are not up to standard enough or are still at the entry level causing a lot of problem for the blockchain market. This substandard integration of blockchain projects lead to so many unresolved problems which is preventing a full-scale implementation of the blockchain technology in a vast variety of industries, where it could potentially be applied at a great profit.

PRESENT PROBLEM OF THE CRYPTOCURRENCY MARKET AND THE ATOMIC SWAP WALLET SOLUTION

The aim of the blockchain powered technology is to lead the future of the financial market but this is not so yet as there are still challenges in the remaining necessity of trust towards centralized financial services in an otherwise decentralized environment. Third party custody risks also affects the ecosystem sustainability, bringing vulnerability to manipulative and regulative actions.

There has been a whole lot of security breaches of many cryptocurrency market in the past to the tune of people loosing a whole lots of asset.

Personally I could remember my account was hacked on a trading website and I lost a fortune of assets this is due to the insecure cryptocurrency exchange market which makes it easy for hackers to penetrate. What am saying in essence is that the present-day exchange providers managing huge exchange volumes inherit custody risks, which counterposes the ideas of transparency, openness, and independence from trust-based mechanisms.

To solve the problem deceived above the atomic wallet will be introducing a fundamentally new platform for custody-free, transparent, immutable cryptocurrency trading. The atomic swap platform is the simplest way to connect buyers and sellers within a decentralized framework. Atomic Wallet is a new type of decentralized cross-blockchain exchange.

The atomic wallet will serve as a very secure trading center for both buyers and sellers to carry out their transaction without any breach in security. The atomic wallet will be set up in a way that it will be hackers proof to prevent interference by third party.

One of the major problems the atomic wallet will look at solving is the aforestated problems and they will look at solving this through a fundamentally new approach based on the idea of decentralization of digital assets exchange. As a reaction to the current challenges of the industry, the atomic project was created to bring a convenient and versatile decentralized solution for the custody-free cryptocurrency trading. The atomic wallet will provide a powerful in-demand service that allows users to reduce efforts spent on managing crypto assets and renders it transparent and trustless.

THE ATOMIC WALLET USER INTERFACE

PERSONAL NOTE

The atomic swap wallet as a platform will solve the many security challenges face by the existing blockchain based crypto markets. With the use of the platform both seller and buyer can be rest assured of secured transaction. To get a seamless transaction the atomic wallet will gather successful and unsuccessful trades into blocks; the whole block is approved atomically. Each trade is executed separately from the atomic wallet blockchain. However it should be noted that the atomic wallet blockchain will be used only in the purpose of storing historical data.