ATOMIC WALLET – THE ULTIMATE BLOCKCHAIN UPGRADE

INTRODUCTION

Merely looking at the fast-rising crypto industries would reveal the immense potentials harnessed within the sector. It is quite evident that this innovation, underpinned by the almighty blockchain technology has the propensity to attain the status of the big thing from the future. However, taking another glance (yet deeper) at specific aspects of the industry, one would be confronted with the stark realization that as of now, the blockchain industry lacks the qualities to be classified alongside technologies meant for widespread application across industries. This could rightly be blamed on the varying number of challenges currently plaguing the industry. Developers have been having a field day trying to constantly come up with new upgrades and improvements so as to ensure that these issues are resolved. Unfortunately, only a few have been able to be largely successful with these attempts. Atomic Wallet is thus an answer to these challenges.

CRYPTO INDUSTRY – MARKET CHALLENGES AND SHORTCOMINGS

Here are some besetting issues standing in the way of the blockchain technology’s full manifestation.

INHERITED RISKS ASSOCIATED WITH CURRENCY CUSTODY: With each passing day, there is an increase in the number of cryptocurrencies on the market. With each currency comes an exchange platform. However, most of these platforms operate on a centralized system which handles all currencies from their own database. Hence, they virtually keep full custody of all currency flow within the market. The problem with such centralized system is that it practically places lots of risk on the system, making it vulnerable. In the event of any possible system failure, it would lead to a colossal loss, as has been witnessed and experienced in the past.

THREATS FROM REGULATORY BODIES: The gospel being preached and propagated by the blockchain movement is one which is in stark contradiction to the tenets and values upheld by the current fiat-based systems. Hearing of a secure means of carrying transactions without having to rely on bothersome bureaucracy and regulatory institutions such as a Central Bank that wants to regulate the process. (Keep the process in check). Unfortunately, this cannot be made possible for them. As a result, they have tagged the blossoming industry as a threat!

ALTERATION AND POSSIBLE FALCIFICATION OF DATA: The blockchain mantra involves security and the elimination of trust-based system to build confidence with the technology. However, this ideal would be possibly betrayed due to some of the mechanism being employed by some platforms. These systems allow for possible alteration of data through their centralized control of records. This could be disastrous for the revolution.

ATOMIC WALLET AS A WAY OUT

Having outlined and discussed several issues bothering the blockchain industry, it is pertinent to outline the features of the Atomic Wallet project that makes it an ideal upgrade for the industry.

MANAGING ASSETS: With the atomic wallet, there are a number of features that are enabled as well as a number of functions that can be carried out. On the platform, users can receive various cryptocurrencies into their wallet that has been generated for them. They can also import crypto assets from external sources into their wallets. This is made possible through obtaining private keys. The private keys which is sensitive is what grants access to the wallet and can be stored in a highly secure encrypted location for the user.

THE ATOMIC SWAP: In the event of a need to exchange currencies between two parties on the platform, the Atomic wallet has introduced a whole new innovative technology to help out with such currency swaps. It involves a form of a handshake protocol in which the first party (known as the initiator) has to create a “secret” that the second party would need to retrieve his desired coins. For Party A to get his own desired coin, he must give Party B a section of that “secret”. Thus, coin exchange only takes place when both parties have shared in the cryptographic hash generated by one party.

TEAM AND ADVISORS

The team are a sound set of persons who are thoroughly grounded in the field of blockchain technology and cryptographic computations and communications.

CONCLUSION

It is obvious that with the very right tools for improvement, and with the appropriate upgrades being put in place, the blockchain would begin to take the desired shape that would be able to launch it into the mainstream market for widespread exploitation in industries.

Useful links:

? Official website: https://atomicwallet.io/

? Whitepaper: https://download.atomicwallet.io/atomicwallet-whitepaper.pdf

? ANN: https://bitcointalk.org/index.php?topic=4437510.0

? Twitter: https://twitter.com/atomicwallet

? Reddit: https://www.reddit.com/r/atomicwallet/

? Telegram: https://t.me/atomicwalletchat

my bitcointalk url – https://bitcointalk.org/index.php?action=profile;u=2192942;sa=forumProfile