Topic: [ANN] ATOMIC: in SuperNET CORE - single blockchain for trading all coins&assets - page 12. (Read 58318 times)

I said I wouldnt intervene in the market tradings, but I think there is simply not enough Atomic asset to go around, so I have convinced cryptaxe to put 10,000 assets on the market at 60 NXT, which is a level that is significantly below the current market price.

Hopefully this will provide enough assets to satisfy the market's hunger for Atomic. If the 10000 is not enough, put more bids at 60 NXT to indicate interest and maybe more can be made available.

For those that purchased Atomic over 60 NXT, PM CryptAxe with your tx details and he will send you additional Atomic assets so your average cost per Atomic will be 60 NXT.

James

It dynamically creates orderbooks for arbitrary pairs of coins/assets and lets any two nodes in the SuperNET agree to the trade.

i cant seem to find atomic on the AE any more

What does InstaDEX do, then?

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

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

another jl777 asset/coin?

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 [email protected]

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.