New wallet open source from Altcoin.io will help developers
Open source Wallet purse Atomic Swap, the company strives to help developers learn about the block chain, and rely on technology.
Decentralized exchange cryptocurrency Altcoin.io recently raised more than $ 1 million. Now the platform has opened its Wallet Atomic Swap, which helps developers to learn and use the blockchain technology. This feature can also help users to find another reason for the transition from centralized exchanges.
Why centralized exchanges pose a problem?
Centralized cryptocurrency exchanges can be a weak link in cryptocurrency transactions. Only in 2018 in several cryptoolinux groups appeared hacks. These exchanges store assets in the centralized repository that have been hacked and coins in the millions of dollars were stolen. By September 2018, hackers stole digital coins worth more than 927 million dollars from centralized exchanges, which is 250 percent more than in 2017
Use atomic swaps can help solve these problems, since they eliminate intermediaries and offer a more private, safe and cheap way of transmitting digital assets. The CEO of the company commented:
“As developers of a decentralized exchange, for us it was really important to ensure that users are always in control of your tokens. Atomic swaps were allowed to bargain with peer-to-peer network, while keeping each transaction with the certainty of the block, so naturally, we were very worried, before starting the development of our own purse with atomic swap.”
Atomic swaps use a hashed time-locked contract (HTLC), a special type of smart contract that makes fraud extremely difficult. None of the parties can not claim possession of the declared tokens, when they are willing to bargain. The funds in HTLC until both parties confirm the receipt of the token using cryptographic code.