Atomic Wallet
Atomic Wallet is a decentralized exchange that uses liquidity pools (LPs) to make markets instead of a typical order book. These pools are defined by smart contracts that facilitate …
Last updated
Atomic Wallet is a decentralized exchange that uses liquidity pools (LPs) to make markets instead of a typical order book. These pools are defined by smart contracts that facilitate …
Last updated
Atomic Wallet does not have any membership restrictions or limitations. Even countries that have a strict crypto policy can access Atomic Wallet through VPN. The wallet app is available to virtually all cryptocurrency enthusiasts. The wallet currently supports more than 300 different cryptocurrencies and tokens as well as all ERC 20 tokens. Users can store and manage BTC, ETH, LTC, XRP, BNB, TRX, BCH, XMR, DASH, ZEC, XLM, DOGE, and many others.
The user will not be charged for downloading and using the integrated features of the wallet. Only crypto transactions have minimal charges. These charges are towards the miners and network validators. Cryptocurrency exchanges charge a highly variable transaction fee, depending on the transaction volume and the blockchain network used. Purchases done through the Simplex platform carry a fixed charge of 2% of the transaction amount.
Atomic Wallet Token – Atomic Wallet Token (AWC) is the first token issued by the decentralized cryptocurrency wallet. The tokens will serve as the internal currency for the users of Atomic Wallet. Atomic Wallet Tokens will give users of Atomic Wallet benefits such as discounts on exchange services, staking, affiliate and bounty rewards, extra features for their trading desk, dedicated support, along with a host of features that will soon be launched. The Atomic Wallet Token is available on the Binance DEX and IDEX exchanges. Users can participate in Airdrop, affiliate programs, and bounty campaigns to receive AWC tokens.
Staking options in Atomic wallet:
Atomic wallet has many staking options that help users earn a passive income. But before getting into that, here is a brief description of what staking is –
Staking involves holding funds in a wallet. These funds help to support the operations of a blockchain network. Users can stake coins directly from their wallet, exchanges also offer staking services to their users. Staking was originally conceived as an alternative to the PoW (Proof of Work) model. Proof of Stake (PoS) is an alternative and efficient way of reaching a distributed consensus that would allow for greater network scaling.
What is Proof of Stake (PoS)?
Users that are familiar with Bitcoin will also be familiar with Proof of Work (PoW). Proof of Work is the mechanism that allows transactions to be gathered into blocks, which are then linked together to create the blockchain. Proof of Work is a very robust mechanism that facilitates consensus in a decentralized manner. However, unlike Proof of Work blockchains that solely rely on mining to verify and validate new blocks, Proof of Stake (PoS) chains validate new blocks through staking, allowing the blocks to be produced without being reliant on mining hardware.
Instead of competing for the next block as they would have done in a Proof of Work system, Proof of Stake validators are selected based on the number of coins they are staking. The validator can then stake the coins present in their wallet to create the new block relative to the amount of coins staked. Many exchanges like Kraken, Binance, CEX, and Coinbase have already started offering staking.
