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Author Topic: [ANN] ATOMIC: in SuperNET CORE - single blockchain for trading all coins&assets  (Read 57916 times)
visual111
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October 13, 2014, 02:49:15 AM
 #201

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I think the best way to describe Atomic would be a decentralized exchange based on the bitcoin technology.
Basically it is a decentralized exchange run by everyone who wants to participate (as a miner) in the Atomic network.
Imagine bittrex or cryptsy without the need of a website - pure and straight cross-blockchain trading of coins/assets, that is Atomic.
You can see mining in the Atomic network as a process of exchanging coins/assets between different ledgers.

So this "decentralized exchange" called Atomic will be embedded in a GUI? (supernet GUI I'm assuming?) Which users can use to input trades with whatever pair is supported on the network.

As opposed to now where exchanges hold wallets for coins. To get NXT, you have to pay BTC usually. But if you had a coin like Bitstar and wanted NXT, you would have to convert to BTC and then you could purchase NXT because there are no BITS/NXT pairs.

With Atomic, I could just put up a BITS ask within the BITS/NXT pair and trade peer to peer? During this transaction, I will have to pay a fee in BITS and Atoms.



The user experience will not require any purchasing of tokens prior to making an exchange. If a user has Atoms in their wallet already, then those Atoms will be used to append exchanges to the ledger. Otherwise in the case that a user does not have any Atoms in their wallet, they will automatically be included in the ledger fee (which is insignificant). So one never has to worry about funding their wallets or anything like that, but they can if they want to. I suggest you also take a look at the POG section of the documentation as criptix has pointed out, it explains how the Atoms are going to be used for multiple purposes including measuring the age of nodes using the coinage of their oldest coin!

So if a person has no Atoms, they will pay extra in whatever coin they are exchanging?






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October 13, 2014, 05:39:31 PM
 #202

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I think the best way to describe Atomic would be a decentralized exchange based on the bitcoin technology.
Basically it is a decentralized exchange run by everyone who wants to participate (as a miner) in the Atomic network.
Imagine bittrex or cryptsy without the need of a website - pure and straight cross-blockchain trading of coins/assets, that is Atomic.
You can see mining in the Atomic network as a process of exchanging coins/assets between different ledgers.

So this "decentralized exchange" called Atomic will be embedded in a GUI? (supernet GUI I'm assuming?) Which users can use to input trades with whatever pair is supported on the network.

As opposed to now where exchanges hold wallets for coins. To get NXT, you have to pay BTC usually. But if you had a coin like Bitstar and wanted NXT, you would have to convert to BTC and then you could purchase NXT because there are no BITS/NXT pairs.

With Atomic, I could just put up a BITS ask within the BITS/NXT pair and trade peer to peer? During this transaction, I will have to pay a fee in BITS and Atoms.



The user experience will not require any purchasing of tokens prior to making an exchange. If a user has Atoms in their wallet already, then those Atoms will be used to append exchanges to the ledger. Otherwise in the case that a user does not have any Atoms in their wallet, they will automatically be included in the ledger fee (which is insignificant). So one never has to worry about funding their wallets or anything like that, but they can if they want to. I suggest you also take a look at the POG section of the documentation as criptix has pointed out, it explains how the Atoms are going to be used for multiple purposes including measuring the age of nodes using the coinage of their oldest coin!

So if a person has no Atoms, they will pay extra in whatever coin they are exchanging?

We have our own GUI, but you got the rest of that correct. You could trade any coin pair as we do not maintain any wallets at all so as long as there is a node with the coin available, you can trade it! And yes if the person has no Atoms they will pay for their usage as a part of the exchange fee. Keep in mind that it will still be an insignificant fee.

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October 13, 2014, 10:02:30 PM
 #203

Very cool, do you think you'll release a GUI by the end of 2014?






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October 13, 2014, 11:45:19 PM
 #204

Our goal is to begin alpha testing within this community sooner than that  Smiley If you'd be interested in helping out with that process go ahead and send me a pm or email!

I have just added Eureka's Chinese translations to the documentation section of www.atomicdac.org obviously most people on here wont be able to read that but you should take a look anyway as I at least find it pretty awesome that we are now an internationally known project (making it to the top of bter's news list in China yesterday) and Eureka has been spending time posting the information in every place that a Chinese crypto-currency investor/enthusiast would look.

And then on top of that at the same time we have Criptix working in Europe as well as the U.S. working on a list of crypto news outlets/blogs etc so that we can hopefully become a featured technology and more well known in the crypto-currency scene.

Everything is looking great today, I just had a meeting with one of the other developers and we have officially gotten to the point that we can append useful information to the blockchain and we are now working on an algorithm to effectively compress and decompress the information that we append without adding any delays to the transaction (this is to minimize the size of the blockchain, however we may ditch compression in favor of overall performance) This will most likely be a subject that we open up to community discussion and voting prior to the alpha release of ATOMIC.

We've also added two other members to the team to work on an QTQUICK/C++ mobile interface (android and windows phone for sure, iOS maybe depending on whether or not the holy Apple gatekeepers decide to let us in)

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October 14, 2014, 12:45:40 AM
 #205

Our goal is to begin alpha testing within this community sooner than that  Smiley If you'd be interested in helping out with that process go ahead and send me a pm or email!

I have just added Eureka's Chinese translations to the documentation section of www.atomicdac.org obviously most people on here wont be able to read that but you should take a look anyway as I at least find it pretty awesome that we are now an internationally known project (making it to the top of bter's news list in China yesterday) and Eureka has been spending time posting the information in every place that a Chinese crypto-currency investor/enthusiast would look.

And then on top of that at the same time we have Criptix working in Europe as well as the U.S. working on a list of crypto news outlets/blogs etc so that we can hopefully become a featured technology and more well known in the crypto-currency scene.

Everything is looking great today, I just had a meeting with one of the other developers and we have officially gotten to the point that we can append useful information to the blockchain and we are now working on an algorithm to effectively compress and decompress the information that we append without adding any delays to the transaction (this is to minimize the size of the blockchain, however we may ditch compression in favor of overall performance) This will most likely be a subject that we open up to community discussion and voting prior to the alpha release of ATOMIC.

We've also added two other members to the team to work on an QTQUICK/C++ mobile interface (android and windows phone for sure, iOS maybe depending on whether or not the holy Apple gatekeepers decide to let us in)

are technical skills required? i am interested if they are not. as a non techie, i might be a good "end user test dummy"

why would an exchange advertise for you? seems like Atomic is competition to bTER?









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October 14, 2014, 03:46:28 AM
 #206

Nope we can actually make money for BTER Smiley If you haven't had a chance you should check out the documentation at http://atomicdac.org/. It would be very good to have non techies on the team for testing purposes. What operating system(s) do you have access to if you don't mind me asking? You can send me an email from the contact area as well if you would rather talk to me over email!

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October 17, 2014, 07:43:00 PM
 #207

sorry how would be possible that bter make money from this exchange
only bter or every exchange ?
will atomic drive the price in a way or the other (up
down)
or you intended that with atomic any coin will possibly be
more used so with more market than with only normal exchange?

if think evey day but what all cryptos and btc need is a failing state
of wherever to buy 99 % of the coins and declare them legal money
of the state (even a big industry but for them there are better way
 like making their own coin see amazon coin )
if they don't fail instantly maybe the coins will be appreciated.


reality ? you fell to Scammers after being in an ICO , IPO
(more like any other stock and index in the world ICO or not got your portfolio down 25 % or 85 %)
Now  SEC is helping you getting back up your lost money maybe....
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October 17, 2014, 09:14:23 PM
 #208

sorry how would be possible that bter make money from this exchange
only bter or every exchange ?
will atomic drive the price in a way or the other (up
down)
or you intended that with atomic any coin will possibly be
more used so with more market than with only normal exchange?

if think evey day but what all cryptos and btc need is a failing state
of wherever to buy 99 % of the coins and declare them legal money
of the state (even a big industry but for them there are better way
 like making their own coin see amazon coin )
if they don't fail instantly maybe the coins will be appreciated.



Hi,

i think currently every exchange is working with their own internal ledger/database.
what they could do is using Atomic itself. It is cheaper, as fast as their own system and the most important: decentralized and publicly verifiable/auditable.

Tbh this will probaly boost the userbase and volume of every exchange by alot and in the end increase the income of the exchange.
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October 20, 2014, 09:40:51 AM
 #209

Form CryptAxe ,  now I become a tester for this project, it's pleasure.
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October 20, 2014, 04:17:27 PM
 #210

Form CryptAxe ,  now I become a tester for this project, it's pleasure.

Welcome to the team, can't wait to start getting feedback from our testers once we enter the alpha testing phase  Smiley

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October 20, 2014, 06:10:52 PM
 #211

hello cryptaxe i'm really excited to take part in the team as tester
 Grin

reality ? you fell to Scammers after being in an ICO , IPO
(more like any other stock and index in the world ICO or not got your portfolio down 25 % or 85 %)
Now  SEC is helping you getting back up your lost money maybe....
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October 20, 2014, 06:16:29 PM
 #212

the people of the exchange to contact to make them know of this possibility
cryptsy there is chris
poloniex there is chicken
an admin in chat

for bittrex for me is a little difficult but
some one in the other dev of the coin i have
in my portfolio know for sure

i'm sure it can be made known

maybe even mcxnox can be moved in atomic direction
and make his exchange a little more open to alts.
good work everybody
 

reality ? you fell to Scammers after being in an ICO , IPO
(more like any other stock and index in the world ICO or not got your portfolio down 25 % or 85 %)
Now  SEC is helping you getting back up your lost money maybe....
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October 21, 2014, 12:27:29 AM
 #213

Cool project guys. We've been working since June with hybrid assets towards a similar initiative here (+ forumthread). We'll be publishing our whitepaper soon, perhaps you can use some of our ideas as inspiration for further development as we're aiming for a fully open-source client anyway. All in the spirit of working towards satisfying cross-blockchain solution(s) for the cryptosphere Smiley

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October 21, 2014, 01:20:22 AM
 #214

Nope we can actually make money for BTER Smiley If you haven't had a chance you should check out the documentation at http://atomicdac.org/. It would be very good to have non techies on the team for testing purposes. What operating system(s) do you have access to if you don't mind me asking? You can send me an email from the contact area as well if you would rather talk to me over email!

i read half of it but i'll have to reread it again now that i understand the asset much better






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CryptAxe
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October 21, 2014, 01:32:57 AM
 #215

Cool project guys. We've been working since June with hybrid assets towards a similar initiative here (+ forumthread). We'll be publishing our whitepaper soon, perhaps you can use some of our ideas as inspiration for further development as we're aiming for a fully open-source client anyway. All in the spirit of working towards satisfying cross-blockchain solution(s) for the cryptosphere Smiley

Please send me an email, you can find my email address on atomicdac.org on the contact page I'd love to see what approach you guys are taking, looking forward to the documentation Smiley

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October 21, 2014, 03:17:34 PM
 #216

i have volunteered to help with testing for this project. looking forward to how atomic turns out!






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October 24, 2014, 10:26:46 PM
 #217

http://www.coinssource.com/atomic-bridging-cryptocurrencies-and-real-world-transacting/

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October 24, 2014, 10:52:29 PM
Last edit: October 25, 2014, 12:07:04 AM by criptix
 #218


thanks for posting, great article Smiley
although the last part the author mistook the atomic asset with the actual atomic coin - i will forward it to them Smiley
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October 25, 2014, 09:02:14 PM
 #219

As we have been getting some media exposure in the past few days, I thought it would be worth while to take a hour or two break from coding this morning to write up a short article about some of the merchant applications of the ATOMIC network as well as answer a few questions people have been asking about how we can be assist members of the crypto-currency community, and their businesses with the ATOMIC project. You've probably also noticed that a whole lot of people have been posting in this thread announcing that they have joined the team in a position of tester. This is because we are getting close to being ready to test and release the project and anyone else who would like to join the team as a tester should send me a message or email Smiley

If you would prefer to read the following on our website here is the post:
http://atomicdac.org/?p=11076


How ATOMIC will benifit merchants
ATOMIC will have benefits for all existing and future blockchain companies

Many on bitcointalk and other forums have already figured out some of the ways that the ATOMIC network will make trade/commerce a smoother, faster and more secure process. In this post I would like to respond to many of the questions which have arose through this discourse as well as suggest what industries in crypto-currency and all other fields may be the first to adopt ATOMIC, and why. This is far from a complete list and I will be updating it regularly, I would recommend joining the mailing list to receive the latest info about the ATOMIC project.


Merchants (Online and brick/mortar)


More and more businesses will begin to accept crypto-currency payments in the future (we’ve already seen Newegg and PayPal among others finally begin to accept crypto payments just recently) and any merchant that accepts crypto-currency payments in one coin or another is by default already accepting ATOMIC payments. This has major advantages for both customers and business owners.

The key benefits for merchants who will accept ATOMIC payments (although ATOMIC will still function without support of the particular merchant, there will be benefits to running an ATOMIC node at the physical location. For example, a merchant who already accepts crypto-currency payments will automatically accept payments from the ATOMIC network, however a merchant running an ATOMIC node will be able to accept other forms of blockchain based payments, some of which already exist, and many more that haven’t been invented yet)

    Broader range of customers: In the past, a merchant would be limited by the number of wallets that they personally run, currency types/coins that their crypto payment processor accepted or even just a limited knowledge of crypto-currency lacking the thousands of crypto-currencies that have evolved since the initial release of Bitcoin. With ATOMIC payments, merchants will be able to accept absolutely any crypto-currency without any special setup besides what they already have in place to accept crypto payments (or any other blockchain based asset if they are running an ATOMIC node).
    Faster payments: ATOMIC will introduce a constant verification time for ALL crypto-currencies. We all know that making a purchase in person with BTC can go really well if the merchant is setup with a payment processor that takes on some amount of risk and instantly “verifies” transactions. However, the process can also be lengthy and frustrating with other setups which is part of what led to the big bang of altcoins with much faster verifications than Bitcoin. The ATOMIC ledger operates at the speed of the ATOMIC blockchain which means that verifications will be very fast (we are pushing for instant) for all crypto-currencies and you will always have the option to make payment in a currency like NXT or LTC which have faster transaction times if the merchant is not setup for instant verifications.
    No middle – man: With nobody to run away with all of the moolah, the decentralized approach to the ATOMIC network can assure merchants that their transactions are private, secure, and as cheap as possible. Making use of an ATOMIC node as a point of sale payment gateway will also inherently be free and require no sign up, account creation or revelation of private information and the merchant will have the additional benefits above such as being able to accept all forms of crypto payments as quickly as possible.

Mining Pools:

Mining pools are in a very unique situation in the world of crypto. They transfer a very high volume of coins between their server wallets, cold wallets, possibly hot wallets, and then finally they are withdrawn and sent to their miners. Many of the best mining pools already offer the ability to automatically exchange the conglomerate of several different kinds of mined coins into one coin (such as Bitcoin) before withdrawal so that the life of the exchange and the miner is made happier. However the process on these pools is sometimes clunky, not to mention it includes large exchange and withdraw / transfer fees if the process is handled by a third party exchange which is how many pools are doing it. Mining pools who instead make use of the ATOMIC network as either an intermediary between themselves and their miners wallets (exchanging the coins as they are withdrawn into the one coin type that is the miners wallet) or they can make it a part of their cold storage process (exchange the coins right after they are mined and then move the converted single coin type into cold storage) this will make the cold storage process and the withdrawal processes much easier.

    One coin to withdraw them all: ATOMIC will allow mining pools to automatically and cheaply exchange mined coins automatically and autonomously.
    Simplified withdrawal process: Instead of storing numerous addresses for separate wallets, miners can specify one wallet address which will then be set as the default coin to which they would like to withdraw. When it comes time for the exchange to send the miner their coins, they will be exchanged in the air and arrive at the destination wallet as the type of coin desired.
    Simplified cold storage: Instead of maintaining many cold storage wallets for each individual crypto-currency blockchain, ATOMIC will allow mining pools or anyone else that may find use in the feature, to first exchange all of their different coins into one coin type before moving them into cold storage. This will simplify the process so greatly and ATOMIC exchanges will be cheap enough that it will be well worth it for mining pools to adopt a new, more simple method of cold storage that involves less moving parts and therefore may operate more smoothly and securely.

Crypto-currency exchanges:

With recent events and historical (if you could call it that) involving crypto-currency exchanges you could see why it might be beneficial for any exchange running today to make use of the ATOMIC ledger as a way to audit and verify the contents of both hot and cold wallets. The ATOMIC network will provide a currently undisclosed (don’t want to make promises for features before they are proven) auditing mode of the POE algorithm that we have developed in order to server as a decentralized auditing system. That’s all I’m putting out there for now in regards to this but be sure to sign up for the mailing list if you would like more updates as soon as we are ready!

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October 27, 2014, 09:35:05 AM
 #220


thanks for posting, great article Smiley
although the last part the author mistook the atomic asset with the actual atomic coin - i will forward it to them Smiley

The author meant to give you the analysis of the coin itself for the last part Cheesy
edit: im the author btw Cheesy

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