Bitcoin atom aims at offering a decentralized network that enhances digital exchange. Digital Exchange, as the word might sound a little peculiar, but the whole idea is to share the assets following the principle of digital exchange.
Well, this drags us to the question: How will it do so? This process of asset exchange will become a lot easier with the help of hash time-locked contracts or HTLCs.
Now, another question popping up is: Why and how will it help? These HTLCs contracts would first of all help in wiping off any centralized medium from the middle. This will bring up easy and flexible exchanging between different networks.
The exchanges that will take place through these swaps will be very quick and sorted. This is why there will be an upper and from these centralized exchanges.
All you are needed to do is: Place your order and within a blink of eye receive the exchanged crypto. Easy, right?
The Unique Model
It is known to us that cryptocurrencies use either PoW or PoS. The amazing thing about Bitcoin atom is that it uses both of these which make it a hybrid mix. This brings up two things.
This is the reason why the Bitcoin atom is termed as a hybrid and unique model.
The Vision
The primary point of focus about the Bitcoin Atom project is its atomic swaps. This is also sometimes called as cross chain swaps.
The term might be too difficult for you to understand and the same goes for most of us. There is no reason for you to worry because you are never alone.
An atomic swap or a cross chain atomic swap is a smart contract that is powered by crypto. All that this does is creates a direct and an immensely trustless mode of exchange between two parties.
This makes a lot of things possible. With the help of atomic swap, exchanging tokens between one another becomes quite easy. It also discards the need for a third party.
Benefits of Bitcoin Atom
Everyone has their brighter side to show and so does Bitcoin Atom.
The different reasons that should make you get up and run to grab your own BCA are right here:
This one is totally free: Yes, you heard me. The BCA is completely free and all that it needs in return is a Bitcoin Private Key. If this doesn't work out, then you can exchange BCA with your Bitcoin by using your wallet and at the rate of 1 BTC = 1 BCA.
The Campaign lets you earn BCA: There is no reason for you to worry if you don't have your bitcoin. The bitcoin bounty campaign will give the privilege to all the members to earn their own Bitcoin Atom (BCA). This process doesn't need you to have your BTC. What more could you possibly want?
Transparency Ensured: All the swaps that are made on the platform are easily detectable. As a result of this, creating fake coins in a huge amount would become impossible for the ones participating in the process with their little number of coins.
Final Words for Bitcoin Atom
Without a question, Bitcoin Atom has drawn a huge number of attention towards it.
The reason for so many attention is because of its potential. It has a huge potential and with the help of it, it makes sure to wipe off the crypto problem completely from the world.
There will no more be a need for centralized exchanges and everything will become totally decentralized. This will reduce hacks, exchange issues, and many more.
Everything will be just a step away and it will surely bring the needed world of advancements that have to offer something new to us every day.
Important links:
Website : https://bitcoinatom.io/
Twitter : https://twitter.com/atombitcoin
Telegram : https://t.me/bitcoinatom
Authored By: Etheran
Btalk profile: https://bitcointalk.org/index.php?action=profile;u=1108165
