Bitcoin Atom Wants to Make Cryptocurrency Transfers Truly Peer-to-Peer
The Bitcoin Atom Network and the Benefit of Direct Peer-to-Peer Transactions At its core, Bitcoin Atom is a SegWit enabled Bitcoin fork. Their goal is to use HTLCs to enable users to exchange cryptocurrencies via on-chain atomic swaps. The team plans to integrate cross-chain trading utilities and an atomic swap API into Bitcoin’s core software and fork it into the BCA blockchain. The result is that BCA blockchain users can transact directly with one another without the need for a standard cryptocurrency exchange. All users have to do to initiate a transaction is open their Bitcoin Atom node and place a buy or sell order. Once an agreement with another party is made, the HTLCs will ensure that the transaction goes through quickly and securely. By eliminating the need for third-party cryptocurrency exchanges, Bitcoin Atom will greatly lower transaction costs for both parties. Many cryptocurrency exchanges charge fees for every transaction , in addition to fees for bank ...