No items found.

Bitcoin Atom

price
change

Discover Bitcoin Atom's fundamentals and latest news.

This content was generated by Whalee (BETA), an AI crypto assitant that analyses cryptocurrencies. Informations can be incomplete and/or erroneous. Please always double check and DYOR.

What is Bitcoin Atom?

Bitcoin Atom (BCA) is a cryptocurrency designed to revolutionize blockchain interoperability by enabling seamless communication and value exchange between different blockchains. It leverages atomic swaps, a hybrid consensus mechanism, and the Lightning Network to facilitate fast, secure, and cost-effective transactions. With a total supply of 21 million tokens, Bitcoin Atom aims to create an interconnected ecosystem for cross-chain compatibility and tokenization of real-world assets.

How is Bitcoin Atom used?

Bitcoin Atom (BCA) is a cryptocurrency designed to enhance the functionality of Bitcoin by incorporating features such as atomic swaps and Lightning Network compatibility. It aims to improve transaction speed, reduce fees, and enhance scalability while maintaining the security and decentralization principles of Bitcoin.

Key Features and Use Cases
  • Atomic Swaps: Bitcoin Atom enables direct peer-to-peer exchanges of cryptocurrencies across different blockchains without relying on centralized exchanges or third-party intermediaries. This feature allows for tokenization of real-world assets like real estate, precious metals, or digital assets, opening up opportunities for fractional ownership and increased liquidity in traditionally illiquid markets.

  • Cross-Chain Transactions: Bitcoin Atom facilitates fast and secure transactions across various networks, making it suitable for e-commerce platforms looking to offer a wider range of payment options. It can also be used for cross-border payments, enabling individuals to send money internationally without relying on traditional intermediaries, potentially leading to faster and more cost-effective remittance services.

  • Hybrid Consensus Mechanism: Bitcoin Atom combines the security of Proof-of-Work (PoW) and the energy efficiency of Proof-of-Stake (PoS), ensuring network security and sustainability.

Practical Applications
  • Tokenization: Bitcoin Atom's atomic swaps can be used to tokenize real-world assets, increasing liquidity and fractional ownership opportunities.

  • E-commerce and Payments: Bitcoin Atom's ability to facilitate fast and secure cross-chain transactions makes it a suitable option for e-commerce platforms and cross-border payments.

  • Remittances: Bitcoin Atom's atomic swap technology can be utilized for cross-border payments, enabling individuals to send money internationally without relying on traditional intermediaries.

Overall, Bitcoin Atom is designed to enhance the functionality of Bitcoin by incorporating features that promote interoperability, security, and decentralized transactions, making it a valuable tool for simplifying and expanding various aspects of the blockchain and cryptocurrency ecosystem.

How do I store Bitcoin Atom?

To store Bitcoin Atom (BCA) tokens securely, you have several options:

  1. Decentralized Wallet: Create and set up a DeFi wallet, which allows you to store and manage your BCA tokens independently. This method gives you full control over your assets.

  2. Full Node Wallet: Download and use a full node wallet, which is a more secure option compared to keeping your coins on an exchange. This method ensures you have complete control over your BCA tokens and reduces the risk of losing them.

  3. Blockchain Network Wallet: After purchasing BCA tokens, they will be automatically stored in your blockchain network wallet address. This method is convenient and secure, as long as you follow proper security practices.

It is essential to choose a secure and reliable method to store your BCA tokens to protect your investment.

How to buy Bitcoin Atom?

To buy Bitcoin Atom (BCA) tokens, follow these steps:

  1. Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension or app from the relevant stores.

  2. Set up Your Wallet: Create an account, provide personal information, and set a strong password. You will receive a secret recovery phrase or seed words, which are crucial for wallet recovery. Record these carefully.

  3. Buy Base Currency: Choose a cryptocurrency exchange platform and buy a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade BCA. For example, you can use BCA/WAVES on YoBit.

  1. Transfer Funds to Wallet: Withdraw your base currency to your crypto wallet. Log into your exchange account, provide your wallet address, and specify the transfer amount. Wait briefly for the funds to appear in your wallet.

  2. Select a Decentralized Exchange (DEX): Choose a DEX that supports your wallet. For instance, if you use the Binance wallet, you can use Pancake Swap. Ensure the DEX supports the BCA trading pair you want.

  3. Buy Bitcoin Atom (BCA): Connect your wallet to the DEX and select the BCA trading pair. Enter the amount you want to trade and complete the transaction.

  1. Alternative Methods: If BCA is not listed on the DEX, you can use tools like bscscan or etherscan to find the smart contract address. Be cautious of scams and ensure you have the correct contract address.

Additionally, consider using cold wallets for long-term storage and diversifying your portfolio to minimize risks.

Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

History of Bitcoin Atom

Bitcoin Atom (BCA) is a cryptocurrency that was created in 2018 as a hard fork of the original Bitcoin blockchain. This fork was a permanent split from the Bitcoin blockchain, unlike a soft fork, which is a temporary change. Since its inception, Bitcoin Atom has focused on addressing the critical challenges of scalability and interoperability in the blockchain landscape.

Bitcoin Atom aims to revolutionize the blockchain ecosystem by enabling seamless communication and value exchange between different blockchains. It achieves this through its unique features, including on-chain atomic swaps, which allow for direct peer-to-peer exchanges of cryptocurrencies across various networks without relying on centralized intermediaries. This capability opens up new possibilities for tokenization, fractional ownership, and increased liquidity in traditionally illiquid markets.

The cryptocurrency has a strong focus on cross-chain compatibility, atomic swaps, and a hybrid consensus mechanism. This allows for fast, secure, and cost-effective transactions across various networks, making it an ideal solution for e-commerce, remittances, and cross-border payments. By eliminating the need for traditional intermediaries, Bitcoin Atom empowers individuals to send money internationally with unparalleled speed, security, and cost-effectiveness.

Bitcoin Atom's vision is to create an interconnected ecosystem where different blockchains can seamlessly communicate and exchange value. With a robust roadmap and a strong team, it is poised to become a leading player in the blockchain industry, paving the way for a more connected, inclusive, and empowering future.

Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

How Bitcoin Atom works

Bitcoin Atom (BCA) is a distinctive cryptocurrency designed to enhance the functionality of Bitcoin by incorporating features such as atomic swaps and Lightning Network compatibility. It aims to improve transaction speed, reduce fees, and enhance scalability while maintaining the security and decentralization principles of Bitcoin.

Hybrid Consensus Mechanism

Bitcoin Atom employs a hybrid consensus mechanism that combines both proof-of-work (PoW) and proof-of-stake (PoS) methods. This combination enhances security and stability, reducing the risk of a 51% attack where a single entity dominates over 50% of a blockchain's computational power. The hybrid mechanism ensures that the network remains resilient against attacks while minimizing its environmental impact.

Atomic Swaps

Bitcoin Atom is designed with a strong emphasis on atomic swaps. Atomic swaps enable peer-to-peer cryptocurrency trading without the need for intermediaries or centralized exchanges. This feature enhances the security and privacy of transactions while eliminating transaction fees associated with traditional exchanges. Atomic swaps are facilitated through hash time-locked contracts (HTLCs), which ensure that transactions are secure and irreversible.

Lightning Network Integration

Bitcoin Atom integrates with the Lightning Network, a second-layer scaling solution for Bitcoin. The Lightning Network enables faster and cheaper transactions by processing a large number of transactions off-chain. This brings scalability to Bitcoin Atom and makes it more suitable for everyday transactions.

Tokenomics and Distribution

Bitcoin Atom operates on an inflationary model with a current staking reward rate of approximately 17%. The total supply of BCA is 21 million tokens, mirroring that of Bitcoin. As of May 2023, there are 18,418,931.25 BCA in circulation, with the remaining tokens to be gradually released through staking rewards and other distribution mechanisms. The distribution of Bitcoin Atom tokens reflects a well-thought-out strategy to fund the project's development and growth.

Buying and Storing Bitcoin Atom

To buy Bitcoin Atom, investors can follow these steps:

  1. Choose a Cryptocurrency Exchange: Currently, only Okex, YObit.net, and Exrates crypto exchanges support Bitcoin Atom. Investors need to complete a verification process by providing identification documents and other necessary information.
  2. Complete Verification: Once the account is verified, deposit funds into the exchange account. This can be done using cryptocurrencies like Bitcoin or Ethereum or using fiat currency, depending on the exchange.
  3. Deposit Funds: Search for the trading pairs that involve Bitcoin Atom (BCA) on the exchange. Typically, BCA is traded against major cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH).
  4. Find BCA Trading Pair: Choose the trading pair and place an order. Investors can either place a market order (to buy at the current market price) or a limit order (to buy at a specific price).
  5. Place an Order: Once the order is executed, the investors will receive the purchased Bitcoin Atom in the exchange account's wallet.
  6. Withdraw to Investor’s Wallet: It's recommended to transfer the purchased Bitcoin Atom to a personal wallet for added security. This can be a software wallet, hardware wallet, or any wallet that supports BCA, such as Coinomi, Atom Wallet, and ESR.

Overall, Bitcoin Atom presents itself as a viable option for users seeking improved transactional efficiency and decentralized trading options.

Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Bitcoin Atom's strengths

Bitcoin Atom (BCA) has several strengths that set it apart from other cryptocurrencies. One of its primary strengths is its hybrid consensus mechanism, which combines the security of Proof-of-Work (PoW) and the energy efficiency of Proof-of-Stake (PoS). This approach ensures the network's resilience against attacks while minimizing its environmental impact.

Another significant strength of Bitcoin Atom is its focus on cross-chain compatibility and atomic swaps. By enabling direct peer-to-peer exchanges between different blockchains, BCA eliminates the need for centralized exchanges, reducing the risk of hacks, fraud, and manipulation. This decentralized approach ensures the integrity and security of transactions, fostering trust and confidence among users.

Additionally, Bitcoin Atom's tokenomics and distribution model are designed to ensure a fair and equitable distribution. The initial token allocation includes a significant percentage for public contributors, and the implementation of vesting periods and lock-ups for tokens held by various stakeholders helps maintain price stability in the market.

Bitcoin Atom also has a strong development team, with ongoing active development and a clear vision for the project. The team is constantly syncing the BCA codebase with the Bitcoin Core codebase, ensuring that BCA benefits from ongoing upgrades to sidechain activations, peer and connection handling, database optimizations, and other blockchain-related technology improvements.

Furthermore, Bitcoin Atom has a robust roadmap, with a focus on community engagement and scalability. The project's commitment to interoperability and atomic swaps positions it to unlock a new era of blockchain adoption and innovation.

Overall, Bitcoin Atom's unique features, robust tokenomics, and strong development team make it a promising cryptocurrency with significant strengths in the blockchain landscape.

Bitcoin Atom's risks

Bitcoin Atom (BCA) carries several financial risks that investors should be aware of before investing in this cryptocurrency.

Market Risks
  • Market Volatility: The cryptocurrency market is known for its high volatility, which can result in significant price fluctuations. This volatility can lead to substantial losses if the market moves against the investor's position.
  • Risk of Losing Value: As with any investment, there is a risk that Bitcoin Atom could lose its value entirely. While this appears highly unlikely, it is still a possibility that investors should consider.
Liquidity Risks
  • Limited Adoption: Bitcoin Atom has limited adoption and market presence compared to well-established cryptocurrencies like Bitcoin (BTC) or Ethereum (ETH). This relative obscurity could pose challenges in terms of liquidity, making it difficult to buy or sell the token quickly and at a fair price.
  • Market Awareness: Bitcoin Atom's relatively low market awareness can contribute to liquidity issues and make it harder for investors to find buyers or sellers.
Security Risks
  • Hacks and Fraud: Although Bitcoin Atom's decentralized approach and atomic swaps aim to reduce the risk of hacks and fraud, there is still a possibility that the system could be compromised, leading to financial losses for investors.
Regulatory Risks
  • Regulatory Uncertainty: The regulatory environment for cryptocurrencies is constantly evolving and can be unpredictable. Changes in regulations could negatively impact Bitcoin Atom's value or even render it illegal in certain jurisdictions.
Investment Risks
  • High Risk Rating: Bitcoin Atom has received a high risk rating from InvestorsObserver analysis, indicating that it may be more susceptible to significant price drops or other adverse market events.
  • Inflationary Model: Bitcoin Atom operates on an inflationary model, which means that the token supply will increase over time. This could lead to inflation and potentially erode the value of existing tokens.
Other Risks
  • Complexity: Bitcoin Atom's features, such as atomic swaps and hybrid consensus mechanisms, can be complex and difficult to understand. This complexity may deter some investors or lead to misunderstandings about the token's functionality and risks.
  • Competition: The cryptocurrency market is highly competitive, and Bitcoin Atom faces competition from other tokens with similar features and goals. If other tokens gain more traction or adoption, it could negatively impact Bitcoin Atom's value.

It is essential for investors to carefully evaluate these risks and consider their own risk tolerance before deciding to invest in Bitcoin Atom or any other cryptocurrency.

Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Did Bitcoin Atom raise funds?

Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Bitcoin Atom's ecosystem

No items found.
No items found.
Discover
Bitcoin Atom
We give you the tools to invest your time and money in 1000+ tokens.
Subscribe

Bitcoin Atom’s team

  • Jae Kwon: Co-founder and CEO of Cosmos, the parent ecosystem of Bitcoin Atom, with a background in computer science and experience as a software engineer at Google, instrumental in shaping the technical vision of Bitcoin Atom.
  • Ethan Buchman: Co-founder and CTO of Cosmos, with a background in computer science and mathematics, made significant contributions to the development of the Cosmos SDK and the Bitcoin Atom protocol.
  • Zarko Milosevic: Co-founder and COO of Cosmos, brings business and finance expertise to drive strategic partnerships and operations.
  • Chjango Unchained: Core developer at Cosmos with a background in computer science, plays a crucial role in the development of the Bitcoin Atom Hub and the Inter-Blockchain Communication (IBC) protocol.

Whalee AI

The fundamental analysis assistant for crypto value investors.

Bitcoin Atom NEWS REPORT

Latest news

Want an analysis of Bitcoin Atom? Tell us on discord.

Similar tokens

Looks like we're missing similar tokens!
Help us improve!
Tell us what you think of this page and which features you would like to see next.
OPEN FORM