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

[CryptAxe]

Is there any revenue in the Atomic asset? Will people have to buy Atomic to make use of services, will it be scarce?

You will not need to purchase assets in order to use the service!

Actually I meant: why would investors buy this asset? Why will it go up in price?

I see a value in being able to use any cryptocurrency at businesses that accept various coins which you may not have in your wallet as well as being able to make instant exchanges between currencies and verify all of the transactions on one blockchain rather than several.

[1715226711]

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[1715226711]

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[1715226711]

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[habraken]

Is there any revenue in the Atomic asset? Will people have to buy Atomic to make use of services, will it be scarce?

You will not need to purchase assets in order to use the service!

Actually I meant: why would investors buy this asset? Why will it go up in price?

I see a value in being able to use any cryptocurrency at businesses that accept various coins which you may not have in your wallet as well as being able to make instant exchanges between currencies and verify all of the transactions on one blockchain rather than several.

LOL! I absolutely agree on the value of the service, but investors are more interested in the price of the asset.
Does the asset increase in price? Are there fees? Dividends? Or should we consider any investments in it a 'donation' for a good cause?

[Maxmast]

just buy some.

[jl777]

Is there any revenue in the Atomic asset? Will people have to buy Atomic to make use of services, will it be scarce?

You will not need to purchase assets in order to use the service!

Actually I meant: why would investors buy this asset? Why will it go up in price?

I see a value in being able to use any cryptocurrency at businesses that accept various coins which you may not have in your wallet as well as being able to make instant exchanges between currencies and verify all of the transactions on one blockchain rather than several.

LOL! I absolutely agree on the value of the service, but investors are more interested in the price of the asset.
Does the asset increase in price? Are there fees? Dividends? Or should we consider any investments in it a 'donation' for a good cause?

the assetholders will receive prorata percentage of the recording fees, net of what the miners are making

[habraken]

the assetholders will receive prorata percentage of the recording fees, net of what the miners are making

Thanks, James, for your answer about future revenues. I feel dumb, but could you elaborate on what 'recording fees' are? I've never heard of those (outside the music industry ofcourse). How does mining enter into this?

I googled it, and Bitcoin wiki says: "Payments are recorded in a public ledger using its own unit of account, which is also called bitcoin"

[jl777]

the assetholders will receive prorata percentage of the recording fees, net of what the miners are making

Thanks, James, for your answer about future revenues. I feel dumb, but could you elaborate on what 'recording fees' are? I've never heard of those (outside the music industry ofcourse). How does mining enter into this?

I googled it, and Bitcoin wiki says: "Payments are recorded in a public ledger using its own unit of account, which is also called bitcoin"

By recording fee, I mean to record a transaction pair on the "ticker tape".

Imagine the Atomic blockchain as a ticker tape for all the cross chain trades. The miners that are on both blockchains for a specific trade are the ones that record it into the blockchain. For this there a small fee (details not determined yet) and this is used to compensate the miners and the assetholders.

If the fees charged are too high, then nobody will use it. If the price is too low, it wont add up to much even if the volumes go sky high. So the exact pricing model cannot be determined until there is actual usage data and it will probably be maximized using some sort of auction process.

Now let us imagine a world a bit into the future, where real world transactions are wanting a blockchain to record important things, eg. contracts, deeds, etc. How many such things are happening? Can recording fees of a few dollars be charged? This is the type of expansion into the real world that Atomic can achieve. Of course, being integrated into the SuperNET as the default ticker tape blockchain will provide for a nice baseline level of revenues.

Atomic is still early stage. You can help its future with ideas on how to monetize a "ticker tape" blockchain

James

[CryptAxe]

Update!

I'm very happy to announce that we have taken on the additional C++ developer that I told you guys about and we have also received the artwork that all of you have been anticipating.

Logo/Style voting:

I have created an imgur album which shows all 5 of the style options here: http://imgur.com/a/pHBJb#0 Please take your time to look at all 5 of the styles in the album and let us know which one your like the most or give us any suggestions that you might have! Please leave a comment with the number (1-5) of the style that you like the most! If you leave your NXT address as well you may also receive a small reward of ATOMIC assets  

Style 4:

[pineapples]

desciption/info on bter incorrectly contains information for FreeMarket
does seem to have the correct asset id though.


ATOMIC Asset (ATOMIC) Info
ATOMIC NXT Asset ID: 11694807213441909013. Total Assets: 1,000,000. FreeMarket is a decentralized marketplace that supports physical items for an initial fixed listing cost of 7.77 NXT. Please check the official website http://nxtfreemarket.com and the official thread https://nxtforum.org/index.php?topic=5408.0 for any changes and updates. A 20% revenue sharing agreement with SuperNET allows for 80% of the listing fees to be distributed as dividends.

[url]https://bter.com/trade/ATOMIC_BTC[\url]

[_mr_e]

Update!

I'm very happy to announce that we have taken on the additional C++ developer that I told you guys about and we have also received the artwork that all of you have been anticipating.

Logo/Style voting:

I have created an imgur album which shows all 5 of the style options here: http://imgur.com/a/pHBJb#0 Please take your time to look at all 5 of the styles in the album and let us know which one your like the most or give us any suggestions that you might have! Please leave a comment with the number (1-5) of the style that you like the most! If you leave your NXT address as well you may also receive a small reward of ATOMIC assets  

Style 4:

Definately love number 4. It's so clean and clear and the colour works really well. 3 is good too but I feel that red works better. 1 and 5 are just too childish feeling.

NXT-5VRS-6H2G-GJJH-AVMFV

[marek3ball-orig]

I like Style 4 and Style 2. However Style 2 looks like atomic hazard logo .


If you don't mind here is my simple modification of the Style 4:

[HarriHirsch]

I like Style 2 Best 

NXT-7WWM-Z57T-5MSK-7AJYC

[_mr_e]

I like Style 4 and Style 2. However Sytale 2 looks like atomic hazard logo .


If you don't mind here is my simple modification of the Style 4:

Call me crazy b ut I like the original better. The 3d centre mixed in with the 2d design style really speaks to me about what Atomic is all about... breaking barriers. Of course that could just be me and such a look is breaking many design guidelines. If I  had to pic one of these three, I'd have to say 1 but something feels off about it.

[tj303]

l like styles 2 and 4 the best as well. 2 is good for the sake of keeping the logo simple but distinctive. It looks like a radar display pinging the other blockchains. 4 is more elegant, but will be hard to display as a very small logo.

NXT-LEH6-UQ45-A7R6-5QD93

[criptix]

imho style 4 looks the best, although i dont really like the red background colour.

would it be possible to have more dark/grey metallic colours in it? something that looks more futuristic.

tbh seeing this sea of red instantly let me thinks of communism 

[CryptAxe]

l like styles 2 and 4 the best as well. 2 is good for the sake of keeping the logo simple but distinctive. It looks like a radar display pinging the other blockchains. 4 is more elegant, but will be hard to display as a very small logo.

NXT-LEH6-UQ45-A7R6-5QD93

Thank you for the feedback I agree with you 

imho style 4 looks the best, although i dont really like the red background colour.

would it be possible to have more dark/grey metallic colours in it? something that looks more futuristic.

tbh seeing this sea of red instantly let me thinks of communism 

I will ask the artist about making a darker/more futuristic looking version of style 4! Thanks for the feedback 

[CryptAxe]

I like Style 4 and Style 2. However Style 2 looks like atomic hazard logo .


If you don't mind here is my simple modification of the Style 4:
--image
--image
--images

Those look great! I'm going to send over all of this info to the artist right now. It looks like the general consensus is that style 4 is the best overall. Everyone that has voted should have received some ATOMIC by now, if not please PM me with your NXT address!

[allwelder]

I like Style 4 and Style 2. However Style 2 looks like atomic hazard logo .


If you don't mind here is my simple modification of the Style 4:

This one is my favourite.

[CryptAxe]

Update: We will be appending this information to the ATOMIC technical document

ATOMIC Ledger Process

Brief: As ATOMIC will act as a single “ticker tape” that can keep track of exchanges between all crypto-currencies, assets, or any future blockchain related technologies, how will we keep track of and verify all of the exchanges in a decentralized way? One part of the ATOMIC network called the ATOMIC Ledger (the blockchain of the network) will make use of newly available attributes of Bitcoin transaction scripts for a portion of the process. If you would like to read more about transactions scripts there is a great article on the wiki: https://en.bitcoin.it/wiki/Script

Coinbase header script data (Block):
   Upon the generation of a block the generation transaction contains the coinbase which can contain any small amount of random data as it is the input of the generation transaction. Bitcoin core currently does not actually make use of this data so there is no risk in ATOMIC appending transaction information. Some mining pools will append the name of their pool or other information for example. While the data isn't seen by most users of Bitcoin, the data can be accessed via the RPC interface or directly as strings from the blockchain database file stored locally. This small data area of each block in the blockchain is a great place for ATOMIC to store information that must be verifiable by all members of the network and backed by a decentralized blockchain. As the amount of data that we can fit into the coinbase is very small (the entire script must be less than 100 bytes) this area is going to be lightly used.

OP_RETURN data (Transaction):
   The main area that ATOMIC will be appending information however will be within the OP_RETURN attribute of transaction scripts which has been enabled in every transaction since Bitcoin core version 0.9 was released. ATOMIC obviously does not use the same blockchain as Bitcoin but it is good to know that the OP_RETURN attribute has seen major use for a long period of time in the core Bitcoin network which means it has been well used and abused. As this feature has been well tested we can take a look at both the positives and the possible drawbacks of using OP_RETURN as a solution for appending small amounts POE related data.
   OP_RETURN data is different from the coinbase data described above as instead of being part of each block generated, OP_RETURN is a part of every transaction. This means that when the ATOMIC network has confirmed an exchange via POE or when an exchange is being broadcast to the 'miners' of the network in order for it to be confirmed we can use OP_RETURN to store relevant data. With this portion of the ATOMIC ledger process we will be able to broadcast, verify and store exchange information in a 100% decentralized way. As with the coinbase of each block described above, the OP_RETURN data from transactions is not displayed to typical users of Bitcoin unless they request the information from the command line or manually view data in the blockchain. We will be developing an open source addition to current blockchain explorers which will allow this information to be viewed as the ATOMIC network will need to.

Multiple forms of verification:
   Another benefit of making use of these two separate areas of decentralized storage is that by design the messages in the block coinbase can only be generated by the miners of network where as transactions may be generated by any user. One option for a slight amount of added security would require that all new 'miners' go through a significant verification process (ruled by the network not by a central authority) similar to the waiting period that is required by Proof Of Stake coins before they will begin minting coins. This would mean that in order to be able to actually add data to coinbase you must have already proven your node as being reliable and stable.

[visual111]

so what is the point in coins having individual block chains? seems like everything will just merge onto one blockchain in the future, if this project is a success. very cool if this works out..actually this is a pretty big deal. so much great stuff coming out right now!


for revenues - it will be just like NXT's PoS? all transaction fees will go to asset holders?

[jl777]

so what is the point in coins having individual block chains? seems like everything will just merge onto one blockchain in the future, if this project is a success. very cool if this works out..actually this is a pretty big deal. so much great stuff coming out right now!


for revenues - it will be just like NXT's PoS? all transaction fees will go to asset holders?

the miners will need some fees, but the majority will go to asset holders

We need all the different blockchains to preserve decentralization. Having just one blockchain for everything is a bit too centralizing in my opinion. Like SuperNET that connects all the coins at the RPC API level, the Atomic creates a shared record, so it is all part of creating a "single" crypto ecosystem but composed of all the different current and future cryptos.

Plus in practice there is no way to get everyone to just agree on one blockchain.

Atomic will become the official ticker tape of crypto and eventually even real world transactions as they migrate into crypto.

James