ATOMIC: A Decentralized Ledger for All Blockchain-Based Technology
ATOMIC is a blockchain that seeks to act as a ledger for any and all cross-chain transactions. It’s billed as aDecentralized Autonomous Corporation and can also be used as a decentralized exchange for all cryptocurrencies. It’s currently unreleased and in development, set to launch before the end of 2014.
Of special interest: ‘Any merchant that accepts cryptocurrency payments in one coin or another is by default already accepting ATOMIC payments,’ the ATOMIC site reports.
The ATOMIC blockchain will be mined by Proof Of Exchange (POE) and Proof Of Gateway (POG), which are ‘two brand new cryptocurrency technologies, which will allow for members of the network performing exchanges and verifications to profit in entirely new ways, without any special mining hardware or setup.’
Cryptaxe Patrick is ATOMIC’s lead developer and answered a few questions about his open-source project.
CoinTelegraph: The ATOMIC slogan is ‘Making cross-chain transactions a reality.’ Does that mean that ATOMIC would serve the same purpose as the proposed ‘sidechains’ in Bitcoin?
Cryptaxe Patrick: Sidechains are an interesting idea, I’ve been looking forward to hearing more about it and I can’t wait for some code! Communication between blockchains that opt-in is certainly a great feature and could add to Bitcoin but the goal of ATOMIC is to act as a decentralized ledger for all blockchain-based technology, not a platform of communication limited to those coins that do opt-in to the sidechains (although we still have no idea what the process for becoming a pegged chain will be, what the requirements will be, etc).
There are other features of ATOMIC inherent by being part of the superNET, such as being able to make use of all of the features of any other coin on the network, which is not something the sidechain project appears to be working on.
This post was published at Coin Telegraph on 2014-10-28.