Hello friends, I’m here again with yet a novel and genius innovation put together by the Atomic Wallet crew. The crypto world is almost stereotyped; cryptocurrency, wallet, exchanges. Crypto assets are not easily swapped for another. For this to happen, you first have to transfer the asset to an exchange (Centralized or Decentralized) make the trade into the desired coin needed in exchange. Atomic Wallet intends to disrupt the crypto world by introducing a Multi-asset Wallet with cross chain atomic Swap exchange and Decentralized order book.
As enshrined in the whitepaper, Atomic Swap Wallet renders a robust on-demand service that empowers users to overcome the costs consumed by managing the assets of their cryptocurrencies and eliminates the need for middlemen. It provides a powerful on-demand service that allows users to reduce the costs associated with managing the assets of the encryption currency and make it transparent and reliable. Atomic Swap supports cross-chain, which is an exchange of cryptocurrencies between users. This basically implies Mr. Bean sends coin E to Mr. James wallet address via the blockchain, while Mr. James performs the same action for Mr. Bean, both actions happening independently on parallel blockchain, in a one-way manner. This is the exact technology behind Atomic Swap. It eliminates the need for a third party or middleman. The diagram below describes the process;
Atomic Swap Additional Functionality
One of the unique features of the Atomic Swap is that it adopts various exchanges for the convenience of the user. Priding itself as a custody-free solution, Atomic Wallet implements only instant exchange option, thus providing two instant exchange options for the user:
- Shapeshift
- Changelly, and
- Fiat options.
It is important to note however, that Atomic wallet will not process fiat itself due to its "do not touch fiat" policy. Its array of partners which have been built during the product development stage will provide such implementation services as card payments acceptances, bank wires acceptances and withdrawals.
Wallet Security
Atomic Wallet provides an array of security features capable of securing user assets from cyber-attacks. Each Atomic Wallet has a string of private key which is controlled by the user only and is independent of Atomic swap. Your private keys are encrypted and never leave your device. Only you have control over your funds, this guarantees Atomic clients the highest level of security
Atomic Multi-currency Support
Atomic Wallet at present supports over 300 tokens and coins. This list is updated on a daily basis as is evident in their ever busy twitter account. Updates are constantly being made on the wallet in order to keep it up to date with the latest coins and features.
Supported Operating Systems
Atomic Wallet is available for download on the above listed operating systems, thus providing an array of options for users.
Roadmap
April 2018 - Alpha release
• Ethereum and Bitcoin asset management
• 200+ token assets support
• Integrated instant exchange service
May 2018 - Beta Version release
• Litecoin asset management
•First pair for Atomic swaps
• Distributed order book over torrent protocol v. 1.0
June 2018
• ERC20 token swaps
• Lightning network implementation
• Multi-language UI
• 26 new assets in the wallet
• 4 new assets in the atomic exchange
July 2018
• Crypto against fiat conversion options integration
• 8 new assets in the wallet
• 4 new assets in the atomic exchange
• Atomic exchange users’ ratings
• Finish of the token sale
• Custom nodes and block explorers usage
August 2018
• Web wallet
• Mobile wallet for Android
• Mobile wallet for iOS
• 8 new assets in the wallet
• 4 new assets in the atomic exchange
September 2018
• User chat in the wallet (trollbox)
• Hardware wallet integration (Trezor, Ledger)
• 8 new assets in the wallet
• 4 new assets in the atomic exchange
October 2018
• dApps browser
• 8 new assets in the wallet
• 4 new assets in the atomic exchange
Atomic Token Matrix
Atomic Wallet will unleash its own native token named the Atomic Wallet Coin (AWC). A strict limit of one hundred Million AWC will ever be created in the TGE, no additional token will be created thereafter, thus limiting the total supply of the coin. AWC can run solely on the Ethereum blockchain.
• Ticker: AWC
• Type: ERC: 20 Token
• Complete name: Atomic Wallet Coin
• Decimals: 8
• Full supply: 100,000,000 AWC
• Open Agreement source code
Atomic ICO
A minimum of $5million is required for the successful implementation of the Atomic project. The maximum amount upon which any release of tokens will terminate is to be determined by the team.
The Public sale is scheduled for September 1, 2018 with a minimum number of tokens to be sold set at 25,000,000 tokens and a maximum set at 100,000,000 tokens.
Note: Due to the instability of the ETH with respect to USD, the price for one AWC-token in ETH will be refined several days prior to the ICO. The final starting price will be determined on the day of the ICO
Team Composition
I think this team is well capable of pulling this off. It is without doubt, an All-Star team. This 4-man team is a mix of experts with strong ties across the IT, economics, blockchain industries.
Atomic Partners & Investors
Conclusion
This is a very ambitious project and as an investor I look out for projects with high use case and good value proposition. This project caught my attention when I read through the whitepaper and discovered I can swap ETH for BTC and vice versa without hassles and any middleman. This revolutionary idea is what the crypto world needs right now. Atomic Wallet Swap is providing a one-stop solution for the interchange of cryptocurrencies.
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
Disclaimer: Please note that all information on this piece is made for educational purposes only and do not constitute any investment advice. Do not invest in any ICO unless you’re confident about its capabilities and do so at your own risk.
Writer Profile: https://bitcointalk.org/index.php?action=profile;u=2305712
Very detailed and nice. Would be looking into the whitepaper
Thanks Karl. Please do and revert with questions if any
A crypto wallet capable of supporting different blockchain projects is one of the problems that decentralization faces so this is a great platform for cryptos. Great project.
Absolutely brilliant solution they're bringing to the space.
Congratulations @fenderr!
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Great job on this