If you are interested in joining the Atom project, it's worth reading the following reviews that can help you get information that might help you in viewing their mission vision and also to know about Atomic Wallet.
Cross-chain is the exchange of cryptocurrency between users. Basically, A sends Coin A to the B Coin B party address through blockchain, while B does the same with Coin B. This action occurs independently on parallel blockchain, in one-way manner. Such arrangements increase the likelihood that one party will never respect the end of the agreement. One way to solve this problem is the involvement of a trusted third party. An atomic cross-chain swap, on the other hand, solves this problem without the need for a third party.
Atom swaps require each party to set up a contract of transaction. The contract contains output that can be spent by the opponent, but the rules required to collect differ for each party involved.
Atom Swap Technology
The first party (called the initiator) wants to trade Coins B for Coin A with other parties (called participants). The initiator allocates the amount of Coins B that is meant for the contract and produces "secret". The secret will later enable participants to collect the contract results. Until he knows his secret, the participants can not spend money from the Coin B initiator's contract.
Participants contract in the Coin A blockchain in a manner similar to the initiator mode. To make the contract, the participant requires the secretive cryptographic hash of the initiator. The initiator can not access this contract without disclosing the secrets to the participants.
After both parties make their contract, none of them can reassemble their coins until the specified time expires. The initiator redeems the contract of the participant, thus disclosing the secrets to the participants. The latter redeeming the contract maker using the secret taken from him.
When a certain period of time (usually 1 hour) ends and the participant does not redeem the outcome of the contract, it is returned back to the initiator's wallet. The participant's contract can also be returned back to the participant, but only after half the time period required by the initiator to wait before their contract can be returned (usually 2 hours).
Initiators can also trade Coin A for Coin B and the procedure will be the same, but with every step taken in the opposite direction on another blockchain. This procedure is considered atomic (ie with timeout) as it gives each party at least 24 hours to exchange the coin from the opposite blockchain before a refund can be made.
The image below provides a visual view of the steps that each party performs and data transfer between each party:
The Atom Wallet will issue its own token, called AWC (Atomic Wallet Coin). A tight limit of 100M AWC will be created, never upgraded.
- AWC will run natively on the Ethereum blockchain with ERC20.
- Type: ERC20 Token
- Ticker: AWC
- Full name: Atomic Wallet Coin
- Decimal: 8
- Total supply: 100,000,000 AWC
- Open Source Source Code
Initial Coin Offering (ICO)
Token Publishing
The intelligent contract based on the Ethereum network was written for the effective implementation of the ICO Atom project. On the day of the ICO launch, the Atom team will publish a smart contract, which will initialize the issuance of AWC-token based on ethereum according to the ERC20 standard.
The contract will support the following functions:
- Crowdsale Management
- Issue of the AWC token (standard ERC20)
- AWC token redirect
In addition, this smart contract will keep a record of providing AWC-tokens to the community of investors and founders.
The source code of the smart contract for the launch of the token-AWC can be found here: https://github.com/Atomicwallet.
Budget allocation
Each atom swap uses a locked lock-time contract, which is part of the scripting language used for most of the current main cryptocurrencies. Both parties submit their respective transactions to the appropriate blockchain. User A sends bitcoin to Bitcoin blockchain, and user B sends ETC on the Ethereum Classic chain. The recipient can only claim this transaction by disclosing a secret number.
For more information, please visit the link below:
Author: The lucky
My Eth: 0x7A3b0fb09628bc56997d52d9a77f3D70a23C66a6
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