Cryptocurrency: Bitcoin Atom (BCA) : brings a truly decentralized way of digital asset exchange with on-chain atomic swaps on board

BITCOIN ATOM

Bitcoin Atom (BCA) is a SegWit enabled Bitcoin fork with on-chain atomic swaps on board and hybrid consensus. Bitcoin Atom enables truly decentralized digital asset exchange by utilizing hash time-locked contracts (HTLCs) and its own HTLC API, giving independence from intermediaries and any centralized entities.

Bitcoin Atom’s development team is working on a special embedded toolkit for both on-chain and off-chain atomic swaps, allowing for exchanging any cryptocurrencies in a hassle-free way across different blockchains. Lightning Network off-chain swaps scheduled to be launched in 2018.

FEATURES

Hybrid Consensus

BCA network is additionally secured by utilizing the so-called hybrid consensus: both PoW and PoS models are put in place, increasing network stability and reducing the power of miners, hence lowering the 51% attack probability.

Lightning Network Swaps

Bitcoin Atom development team is working on the LN implementation, allowing for instant off-chain atomic swaps. LN transactions are cheaper, more useful for smaller transactions and have better privacy properties.

AND ESPECIALLY

Atomic Swap Powered

by using built-in hash time-locked contracts (HTLCs) and its own HTLC API, Bitcoin Atom attempts to disrupt the way we exchange cryptocurrencies today, giving independence from intermediaries and any centralized entities.

Why Are Atomic Swaps Better Than Trading On Exchanges?

rading on centralized exchanges is a popular topic among cryptocurrency community members, especially with growing trading volumes and prices of cryptocurrencies, led by Bitcoin.

However, the discussions can often revolve around the issues that exchange users face, due to the number and complexity of the steps involved, and the various issues that can arise.

The typical process of trading on third party exchanges includes the following steps:

1. registration

2. verification

3. verification processing

4. depositing your exchange account

5. placing an order

6. making withdrawal

7. withdrawal processing

8. receiving coins

All these steps can take a substantial amount of time, typically from 3 to 5 business days, depending on the exchange provider.

Now let’s take a closer look what is the process of exchanging cryptocurrencies via Atomic Swaps:

placing your order inside your node
receiving your exchanged cryptocurrency

You’re able to conveniently open your BITCOIN ATOM node and directly place a sell/buy order without any hassles or middlemen.

It’s that easy and fast to use Atomic Swaps, because you’re able to skip almost all the steps required by third party exchange providers.

And Atomic Swaps not only make trading and exchanging faster, they also offer other advantages over centralized exchanges.

Key Advantages of Atomic Swaps Over Centralized Exchanges

• FASTER Trades

• ELIMINATE delays (caused by missing deposits/withdrawals, server downtime, etc.)

• RETENTION of your private keys, preventing the chance of losing your coins (i.e. Mt. Gox).

• MINIMIZE potential security breaches.

• KEEP your identity private (no verification process).

• DECENTRALIZE the whole trading process making it truly peer-to-peer.

• REDUCE trading fees to minimum.

Stay tuned for the release of Bitcoin Atom, which fulfills the true spirit of decentralized Bitcoin, while immediately increasing speed, convenience and security for you.

Welcome to the “Atomic Age of Bitcoin”!

The Bitcoin Atom hard fork took place as expected at block number 505888.

Welcome to the Atomic Age of Bitcoin

What does that actually mean?

On October 31, 2008, Satoshi Nakamoto published the original Bitcoin white paper, which stated in part:

“What is needed is an electronic payment system based on cryptographic proof instead of trust, allowing any two willing parties to transact directly with each other without the need for a trusted third party.”

In January, 2018, is that what we generally find? We do not. The vast majority of Bitcoin transactions take place through centralized or centrally-managed exchanges or other types of “trusted third parties”.

In the opinion of the Bitcoin Atom team, this directly negates not only the original vision of Satoshi Nakamoto, but even more importantly, it directly detracts from the power and potential of Bitcoin to be a truly revolutionary change that positively impacts, literally, billions of people, over time.

How Do We Restore The Peer-to-Peer (P2P) Aspect of Bitcoin?

Bitcoin Atom (BCA) restores the peer-to-peer (P2P) aspect of bitcoin with Atomic Swaps and Lightning Network capability embedded directly into the coin. Per our roadmap, available at https://bitcoinatom.io/ some of these capabilities are onboard now, and some are coming soon.

How Can You Get Bitcoin Atom?

If you hold Bitcoin (BTC), you can get an equivalent amount of Bitcoin Atom (BCA) from one of our exchange or wallet partners. And whether or not you hold Bitcoin (BTC), you can purchase Bitcoin Atom (BCA) from any of our exchange partners. Please see the full list of current Bitcoin Atom exchange and wallet partners at https://bitcoinatom.io/