BITCOIN ATOM (BCA) - The increasing volume of digital asset trade by bitcoin

Bitcoin Atom

Bitcoin Atom (BCA) is a SegWit enabled Bitcoin fork that is working on on-chain atomic swaps and a hybrid consensus model. One of the most attractive components of Bitcoin Atom is its mission of creating a decentralized digital asset exchange through the use of hash time-locked contracts (HTLCs), which would allow for a true peer-to-peer exchange minus any centralized intermediaries.

Blockchain Revolution

creating the right mistake in the world. Slowly news about crypto currency appeared in the mainstream media. More and more people want to attend this revolutionary event that is not visible every day. Blockchain technology provides extraordinary progress in the processes we know today, changing every aspect of business and life that we live. It has been recognized by people who are enthusiastic and gathered in teams and are doing innovative crypto startups. In this way, the lost infrastructure in the crypto world is occupied, but it also shows the value of utilization power afforded by this innovative technology.

Here Comes Lightning

This oligarchical structure has led to a need to create a system where the original vision of Satoshi Nakamoto, the creator of Bitcoin, can be restored. Because of the large scale of transactional volume, a new platform must be created with the same level of security but faster and cheaper processing.

Nakamoto’s original vision was for a platform for transactions that would be P2P and would provide a simple and decentralized way to process rapid transactions. Freeing the Bitcoin network from centralization would align with his original vision. According to the original whitepaper, Nakamoto said:

“A purely peer-to-peer version of electronic cash would allow online payments to be sent directly from one party to another without going through a financial institution.”

The answer has come from a new altcoin called Bitcoin Atom (BCA).

Bitcoin Atom is a P2P payment platform that is reestablishing the original purpose vision for Bitcoin. BCA is designed with hybrid consensus, lightning network implementation, and hash-time locked contracts.

Hybrid consensus is a term that simply means that validation on the blockchain requires a hybrid of different validation principles for stability. Rather than simply using the Proof-of-Work (PoW) validation protocol, BCA uses both PoW and Proof-of-Stake (PoS). This hybrid model produces stability and further decentralizes authority over the chain, hindering the centralizing tendency of miners to take greater and greater levels of authority.

Second, BCA will utilize the Lightning Network (LN) protocol which allows for instant off-chain atomic swaps. LN transactions are particularly helpful, since they are much cheaper and therefore more useful for small transactions. Additionally, because LN transactions are off-chain, they are much more private than traditional on-chain transactions where a record of the transaction has been immortalized. The combination of security, speed, and fiscal benefit makes the LN atomic swap useful for payment methodologies.

Third, BCA will use hashed timelock contracts (HTLCs) in order to free the blockchain from external authorities and intermediaries. The feature requires cryptographic proof of receipt before the transaction is confirmed, and because BCA utilizes its own HTLC API, it frees users from being forced to use the centralized protocol of BTC for atomic swaps.

With these three features in place, BCA is creating a platform that will allow users to take advantage of all the best features of Bitcoin, while at the same time removing the risks and centralization associated with the original chain.

Security breaches

The irony of these hacks is that cryptocurrencies, as decentralized, trustless monies, should be more secure than their fiat counterparts. History has proven otherwise. This is because cryptocurrencies that are traded through exchanges have neither decentralization nor a trustless protocol. Instead, investors rely solely on a centralized authority to secure their investments.

Sensing the need for greater security, Bitcoin Atom (BCA), a SegWit enabled Bitcoin fork, is creating a network that removes the need for centralized parties when exchanging cryptocurrencies.

They plan to do this via atomic swaps, which allow individuals to exchange digital coins directly between different blockchains. Not only will this model bring transparency to cryptocurrency trading, it will also secure the network from centralized parties.

The Greatest Threat Within the Crypto Community

Cryptocurrency exchanges mean well, and undoubtedly none of them enjoy being hacked. Unfortunately, good intentions alone don’t prevent hacks like those described above from happening. The fundamental problem with cryptocurrency exchanges is their centralization. There is one entity that operates the exchange, secures the network, and managers the flow of funds.

Additionally, these exchanges need to be connected to other centralized entities like banks and credit card companies because users must provide financial information when registering an account. This means that when a cryptocurrency exchange is hacked, both crypto and traditional assets are at risk.

The end result is that all users who trade on exchanges rely on them, i.e. trustin them. It is the centralized exchange that stores private financial information and makes a market for cryptocurrencies. When investors use exchanges, they place their full trust in the exchange. Cryptocurrency exchanges are no different from banks that consumers trust to clear transactions, safeguard deposits, and process payments.

How Bitcoin Atom Solves These Problems

By eliminating the need for centralized exchanges by using atomic swaps, Bitcoin Atom will already make cryptocurrency transactions much more secure. What’s more, when transacting directly on the network, users will only have to sign the transactions with their private key, which is never revealed. Thus in contrast to traditional cryptocurrency exchanges, users of the Bitcoin Atom network never have to give up their personal information.

Whereas traditional exchanges request and secure a variety of private data as a part of their verification process, no verification process is necessary on the Bitcoin Atom blockchain. The entire trading process is decentralized from start to finish. Even if the blockchain were compromised, which is nearly impossible as the network runs on a hybrid Proof of Work / Proof of Stake protocol, no personal information would be at risk.

The Bitcoin Atom network is rumored to happen sometime early 2018, and is receiving support from Coinomi. The promise of secure, truly decentralized trading should excite all cryptocurrency enthusiasts.

Bitcoin Atom Fork

The BCA fork is scheduled for mid to late January. The fork will create a one-to-one copy of each Bitcoin as a BCA. This replication of all existing Bitcoin will mean that BCA coins will be available to everyone who is holding BTC.

Several exchanges have already agreed to verify the BCA fork and allow users to trade their newly minted coins. OKEx, Coinomi and YoBit have all agreed to make BCA tradable when the fork occurs sometime in January.

Users must have access to their private keys, unless their exchange will provide support for the newly minted coins. Users can also access BCA coins directly by creating accounts on one of the exchanges above, and trading other tokens for BCA.

Ultimately, the Bitcoin network contains weaknesses that have been revealed as the network has matured. BCA will create a methodology that will help to correct those weaknesses while at the same time keeping the best features of Bitcoin, restoring the original vision of Nakamoto, and moving cryptocurrencies into the future.

Advantages

1. You can get bitcoin atom honestly free. To do this, you need to both have access to personal keys in bitcoin and keep bitcoin on one of the alternate factors or purses. Issuance of bitcoin atom will take vicinity at the price of 1 btc = 1 bca.

2. Bitcoin forks are currently very popular among bitcoin customers and buyers. Bitcoin atom has an excellent capacity for acquiring considerable fee as compared to other bitcoin forks (bitcoin coins, bitcoin gold, amazing bitcoin) thanks to such a choice as “atomic swaps”, which other forks do no longer have.

3. Bitcoin atom creates atomic swaps to a block bitlock chain. This progressive era simplifies exchange and enables to fulfill bitcoin preliminary vision as a decentralized peer-to-peer generation and consequently draws lots of high-quality attention to the ICA.

4. If btc is not to be had, bitcoin atom can be earned. You can be a part of the bitcoin atom bonus campaign (https://bitcointalk.org/index.php?topic=2567797.0) and promote the mission through social networking channels, receiving a reward inside the form of an ica for this.

5. The possibility of atomic change bitcoin atom have to provide transparency for buying and selling in virtual property, as attempts to drain volume through atomic swaps at the chain might be detected via passive observers. As a result, users will not be capable of show a small wide variety of tokens, and then conceal a big mass of faux ones.

In an effort to study extra approximately the ica, and also about whilst the fork will take place, watch out for the update and get more info on social media channel!

Specification

Ticker Symbol: BCA

Max Supply: 21 Million

Distribution: Mining, Minting, Claiming

PoW algorithm: SHA256

PoW Block Interval: 10 Minutes

PoS Block Interval: 10 Minutes

Block size (actual): 1M (2–4M)

Difficulty adjustment: 2 Weeks

Avg tx confirmation time: 5 Minutes

Atomic swaps: Yes

Segwit: Yes