[ANN] ATOMIC: in SuperNET CORE - single blockchain for trading all coins&assets

[jl777]

so people dont know what they are buying? And price was established, how?  

LOL someone bought for 1000 and someone for 40       How is this planet called again?

Thats pretty easy.  You put a sell order with an huge price out. Then you buy it with your second account. Do it a couple of times and people think it is worth really much. Then put a way lower but still way to expensive sell order out and a fool false for it and buys.
Not a scam but a bad behavior to make money of newbs.

Please do not fall for these type of tricks. Unfortunately there is nothing that can be done to stop anybody from doing such things.

At least the market is behaving somewhat rationally now, with a giant spread between bidders and sellers and little trading volume. Tomorrow more is revealed to allow for better informed price discovery.

James

[IamNotSure]

So mystery much nxt

[allwelder]

The issurer did not sell atomic asset,who is selling?
What's the issuring price?

[valarmg]

The issurer did not sell atomic asset,who is selling?
What's the issuring price?

There's no issuing price. 10% of Atomic was distributed to holders of NxtVenture as a dividend. NxtVenture owners are setting the price.

[sdersdf3]

another jl777 asset/coin?

[superresistant]

 
Nice surprise on my account : 150 ATOMIC for free
Money is always falling from the sky when you're into James projects.

Thanks James !

[valarmg]

another jl777 asset/coin?

Someone else is creating the feature/asset, and jl777 believes it is a good idea and is advising, helping out.

[lordoliver]

Nice surprise on my account : 150 ATOMIC for free
Money is always falling from the sky when you're into James projects.

Thanks James !

small correction: money is always falling from the sky, if you are a hero member ;-)

[jl777]

ATOMIC

Document version 1, more details to be released soon.

If you feel after reading this document that you have skills to contribute to this project, please send an email to cryptaxe@gmail.com

Introduction
Everyone reading this already understands that crypto-currency in one form or another is here to stay, it will be the future of transaction, ledger, voting, communication and much more. However, before crypto-currency becomes something that the general public will use it must be ATOMIC. Cross chain trading currently requires the use of a centralized exchange or a workaround which introduces central points of failure, and require that funds be frozen (nLockTime) or a contract to be used until it can be confirmed that the exchange did actually happen. This is where ATOMIC comes into play. ATOMIC is the spiderweb that will attach the blockchains and assets of all of the crypto-currencies.

What is ATOMIC
   •   A Decentralized Autonomous Corporation. ATOMIC will be run transparently, with direct community involvement, open source, and once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC.
   •   Cross-chain trading (think NXT to BTC) in a 100% decentralized, contract and fund freezing free way.
   •   Trading of assets (ex: Gold to Silver)
   •   Proof Of Exchange (POE) and Proof Of Gateway (POG) these are two brand new crypto-currency technologies which will allow for members of the spider network performing exchanges and verifications to profit in entirely new ways without any special mining hardware or setup.


Why do we need ATOMIC
   •   100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)
   •   Transactions from one blockchain to another in near realtime
   •   The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.
   •   As ATOMIC is run as a DAC it can constantly be changed by the community, without any agenda or central management to prevent progress.

How ATOMIC will work
   •   ATOMIC will make use of blockchain and wallet technologies but will not be a coin in itself, 'mining' will be a combination of POE and POG.
   •   POE: Proof of Exchange will act to verify that an exchange between two blockchains has been completed successfully, in a publicly verifiable ledger. Once an exchange has been declared confirmed by ATOMIC, it will be double checked and
   •   POG: Proof of Gateway will insure that the exchange process happens as quickly as possible. As part of the decentralized spiderweb ATOMIC, 'miners' who are able to confirm exchanges the fastest will receive the largest percentage of the POG fee reward. (Ex: first confirmation: 25% of the reward, second confirmation %15 of the reward, and so on descending returns for each additional confirmer up until 100% of the reward has been paid out at which point the exchange will be confirmed). Instead of rewarding miners for hash power, the miners are rewarded for running coin daemons. The more daemons that are run, the more likely the miner is involved in making a trade happen and getting a reward.

[superresistant]

Is it for real ??

Decentralized Autonomous Corporation / Cross-chain trading / assets Gold to Silver / Proof Of Exchange (POE) / Proof Of Gateway (POG)

And you tell us this ?

Again, I advise no buying panic.

Panic buy now then 

EDIT :

Will this compete with and/or replace InstantDEX?

This is a very different project.
InstantDEX goal is to provide an instant trading like on centralized exchange to compete with them.

[PilotofBTC]

Will this compete with and/or replace InstantDEX?

[jl777]

Is it for real ??

Decentralized Autonomous Corporation / Cross-chain trading / assets Gold to Silver / Proof Of Exchange (POE) / Proof Of Gateway (POG)

And you tell us this ?

Again, I advise no buying panic.

Panic buy now then 

keep in mind this is still early stage, so until there is source code released I would categorize it as high risk.

[jl777]

Will this compete with and/or replace InstantDEX?

actually it will be designed to integrate tightly with InstantDEX. As you know InstandDEX uses the NXT blockchain for clearing the transactions, at least in one of its clearing modes. This requires asset<->asset or asset<->NXT trades. With MGW assets, this is not a problem, but what about coins without MGW support? What about non NXT assets?

So, InstantDEX will be using Atomic to clear trades that cannot be cleared by the NXT blockchain. The subatomic method of overlapped micropayment channels is deprecated with Atomic. There were just too many issues with subatomic, the locking of funds, so many back and forth offchain comms, etc. With Atomic, InstantDEX can clear the tx with a single Atomic tx.

Atomic will actually enhance InstantDEX and InstantDEX will be an active client of Atomic. But Atomic is not just a helper for InstantDEX. It will be able to be the official record of any cross chain transaction for any client, not just InstantDEX

Ok, so it is quite an exciting thing and if there was a working version now, I would be in a buying panic too. But we must wait for the code, there are some significant tech challenges with this project.

James

[Shivalein]

This is absolutely awesome if it will happen.

But how should an investor make money out of it?
Are their some fees that will be shared between the shareholders or something?
At the moment the devs have 90% of the shares and it is currently valued as round about 2m$.
Even if they succeed it looks like financial suicide at the moment for the buyers.

[lordoliver]

ATOMIC

Document version 1, more details to be released soon.

If you feel after reading this document that you have skills to contribute to this project, please send an email to cryptaxe@gmail.com

Introduction
Everyone reading this already understands that crypto-currency in one form or another is here to stay, it will be the future of transaction, ledger, voting, communication and much more. However, before crypto-currency becomes something that the general public will use it must be ATOMIC. Cross chain trading currently requires the use of a centralized exchange or a workaround which introduces central points of failure, and require that funds be frozen (nLockTime) or a contract to be used until it can be confirmed that the exchange did actually happen. This is where ATOMIC comes into play. ATOMIC is the spiderweb that will attach the blockchains and assets of all of the crypto-currencies.

What is ATOMIC
   •   A Decentralized Autonomous Corporation. ATOMIC will be run transparently, with direct community involvement, open source, and once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC.
   •   Cross-chain trading (think NXT to BTC) in a 100% decentralized, contract and fund freezing free way.
   •   Trading of assets (ex: Gold to Silver)
   •   Proof Of Exchange (POE) and Proof Of Gateway (POG) these are two brand new crypto-currency technologies which will allow for members of the spider network performing exchanges and verifications to profit in entirely new ways without any special mining hardware or setup.


Why do we need ATOMIC
   •   100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)
   •   Transactions from one blockchain to another in near realtime
   •   The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.
   •   As ATOMIC is run as a DAC it can constantly be changed by the community, without any agenda or central management to prevent progress.

How ATOMIC will work
   •   ATOMIC will make use of blockchain and wallet technologies but will not be a coin in itself, 'mining' will be a combination of POE and POG.
   •   POE: Proof of Exchange will act to verify that an exchange between two blockchains has been completed successfully, in a publicly verifiable ledger. Once an exchange has been declared confirmed by ATOMIC, it will be double checked and
   •   POG: Proof of Gateway will insure that the exchange process happens as quickly as possible. As part of the decentralized spiderweb ATOMIC, 'miners' who are able to confirm exchanges the fastest will receive the largest percentage of the POG fee reward. (Ex: first confirmation: 25% of the reward, second confirmation %15 of the reward, and so on descending returns for each additional confirmer up until 100% of the reward has been paid out at which point the exchange will be confirmed). Instead of rewarding miners for hash power, the miners are rewarded for running coin daemons. The more daemons that are run, the more likely the miner is involved in making a trade happen and getting a reward.

Sorry for a silly question. But isn't that similar to your supernet?

[jl777]

This is absolutely awesome if it will happen.

But how should an investor make money out of it?
Are their some fees that will be shared between the shareholders or something?
At the moment the devs have 90% of the shares and it is currently valued as round about 2m$.
Even if they succeed it looks like financial suicide at the moment for the buyers.

The fees will be distributed to the assetholders and I am content to just collect these fees so I dont have any urges to sell even at the current valuation.

The exact details of the revenue share between the "miners" and assetholders is not determined yet. It needs to be high enough so the miners have the incentive to setup nodes with some extra for profits, the rest would go to the assetholders.

At the current valuation it is indeed a risk and represents a believe that in the future there will be quite a few Atomic tx. Since Atomic will do both coins and assets and the latter especially has the potential to include real world equivalents, eg. gold, etc. if you are believing that long term crypto decentralized trading will encompass more than just altcoin/BTC tradings, then the ceiling becomes bigger as to the number of Atomic tx that are possible.

Also, cryptaxe has 40%
JLH has 10% and it is a long term HODL
NXTventure assetholders (100+ people) have 10%
NXTventure itself has 40% and it is owned by 100+ people

While I will not venture to say what the proper value for Atomic is, the market has set this price and I have done my best to prevent any buying panics. Please do not buy Atomic if you dont feel it has the potential that is reflected by the price.

James

[sanbashiyi]

  so we can trade all coins without exchange .

[jl777]

ATOMIC

Document version 1, more details to be released soon.

If you feel after reading this document that you have skills to contribute to this project, please send an email to cryptaxe@gmail.com

Introduction
Everyone reading this already understands that crypto-currency in one form or another is here to stay, it will be the future of transaction, ledger, voting, communication and much more. However, before crypto-currency becomes something that the general public will use it must be ATOMIC. Cross chain trading currently requires the use of a centralized exchange or a workaround which introduces central points of failure, and require that funds be frozen (nLockTime) or a contract to be used until it can be confirmed that the exchange did actually happen. This is where ATOMIC comes into play. ATOMIC is the spiderweb that will attach the blockchains and assets of all of the crypto-currencies.

What is ATOMIC
   •   A Decentralized Autonomous Corporation. ATOMIC will be run transparently, with direct community involvement, open source, and once a critical mass has been reached it will become a full DAC with no central points of failure, agenda, laws or anything else that could slow it down. Initial versions will probably not be a fully automated DAC.
   •   Cross-chain trading (think NXT to BTC) in a 100% decentralized, contract and fund freezing free way.
   •   Trading of assets (ex: Gold to Silver)
   •   Proof Of Exchange (POE) and Proof Of Gateway (POG) these are two brand new crypto-currency technologies which will allow for members of the spider network performing exchanges and verifications to profit in entirely new ways without any special mining hardware or setup.


Why do we need ATOMIC
   •   100% transparent and public ledger backed exchanges across blockchains (trading of any asset or any coin)
   •   Transactions from one blockchain to another in near realtime
   •   The ability to spend any coin, anywhere (ex: ATOMIC will allow users to spend NXT at a store which only accepts payments to a BTC wallet) without having to wait for a deposit, confirmations, exchange, withdrawal, more confirmations and then finally spend the coins.
   •   As ATOMIC is run as a DAC it can constantly be changed by the community, without any agenda or central management to prevent progress.

How ATOMIC will work
   •   ATOMIC will make use of blockchain and wallet technologies but will not be a coin in itself, 'mining' will be a combination of POE and POG.
   •   POE: Proof of Exchange will act to verify that an exchange between two blockchains has been completed successfully, in a publicly verifiable ledger. Once an exchange has been declared confirmed by ATOMIC, it will be double checked and
   •   POG: Proof of Gateway will insure that the exchange process happens as quickly as possible. As part of the decentralized spiderweb ATOMIC, 'miners' who are able to confirm exchanges the fastest will receive the largest percentage of the POG fee reward. (Ex: first confirmation: 25% of the reward, second confirmation %15 of the reward, and so on descending returns for each additional confirmer up until 100% of the reward has been paid out at which point the exchange will be confirmed). Instead of rewarding miners for hash power, the miners are rewarded for running coin daemons. The more daemons that are run, the more likely the miner is involved in making a trade happen and getting a reward.

Sorry for a silly question. But isn't that similar to your supernet?

Atomic will be inside the SuperNET core helping InstantDEX clearing the cross chain transactions in addition to being available for other clients

So, Atomic can be thought of as an enhancer to supernet trading function, the ticker tape where the SuperNET tx will be recorded.

We will be starting technical discussions in this thread on the implementation details so things will become clearer.

James

[cexylikepie]

i cant seem to find atomic on the AE any more

[CryptAxe]

another jl777 asset/coin?

Someone else is creating the feature/asset, and jl777 believes it is a good idea and is advising, helping out.

jl777 is providing myself and the development team I have begun forming with advice and help. Please let me know if you have any questions in regards to ATOMIC features and how it is going to work!

Will this compete with and/or replace InstantDEX?

No! Seeing what jl777 was doing with the superNET in general as well as InstantDEX was actually what finally reassured me that the project I knew cryptocurrency needed was now a possibility