Crypto market challenges.

Blockchain-powered technology is intent on leading the future of financial markets.
Today, however, we still observe extensive obstacles for the development of blockchain-based markets.
One of the greatest market challenges is the remaining necessity of trust towards centralized financial services in an otherwise decentralized environment.
Third party custody risks affect ecosystem sustainability, bringing vulnerability to manipulative and regulative actions.

Atomic Wallet radically solves problems described above by introducing a fundamentally new platform for custody-free, transparent, immutable cryptocurrency trading.
platform is the simplest way to connect buyers and sellers within a decentralized framework.

Atomic Wallet is a new type of decentralized cross-blockchain exchange.

Custody risk

Satoshi Nakamoto, the creator of the Bitcoin, has presented the world with a revolutionary technology thereby offering significant advantages to any projects which would incorporate it. These advantages, namely, transparency, openness, and independence from trust-based mechanisms, have been explored and utilized over the years by those involved in the field.

Since the early days of Bitcoin, cryptocurrency market has evolved into a sophisticated multi-blockchain phenomenon. According to​coinmarketcap.com​statistics, cryptocurrency market contains over 1,5K different currencies with exchange turnover of over 14 bln in dollar equivalent daily. In addition to coinmarketcap statistics, we should consider the volumes of intransparent and unregulated peer to peer exchange market (a.k.a. ​Over The Counter​) ​as well.

However, present-day exchange providers managing huge exchange volumes inherit custody risks, which counterposes the ideas of transparency, openness, and independence from trust-based mechanisms.

More than once have major exchanges experienced security breaches. One of the most disruptive failures was the Mt. Gox exchange collapse. It took the market up to a year to recover after the disaster. The list of the publicly known biggest failures for custodian-based centralized crypto exchanges would impress an unprepared spectator:

Date Amount lost Exchange

February, 2014 650,000 BTC ($368M) Mt.Gox

March, 2014 150 BTC ($101k) bitCoin

March, 2014 896 BTC ($572k) Flexcoin

July, 2014 3,700 BTC ($2M) Mintpal

July, 2014 5000 BTC ($1.8M) Bitpay

January, 2015 7,170 BTC ($1.82M) BTer.com

January, 2015 3,000 BTC ($777k) Kipcoin

January, 2015 18,866 BTC ($4.3M) Bitstamp

March, 2015 150 BTC ($3.2k) Coinapult

May, 2015 1,500 BTC ($350k) Bitfinex

January, 2016 13,000 BTC, 3,000,000 Litecoin ($5.8M) Cryptsy

March, 2016 469 BTC, 5,800 ETH 1,900 Litecoins ($230k) ShapeShift

250 BTC, 185,000 ETH, 1,900 Litecoin    

May, 2016 ($2.14M) Gatecoin

August, 2016 119,756 BTC ($65M) Bitfinex

October, 2016 2,300 BTC ($2.6M) Bitcurex

July, 2017 37,000 ETH ($7M) COINDASH

July, 2017 5,300 ETH ($1M) Bithumb

August, 2017 1,500 BTC ($500k) Enigma

On a good note, along the process of evolution, each new failure leads to new knowledge, a portion of which crypto professionals comprehend and evangelise in public nowadays in the following way:​​if one doesn’t have the keys to his/her crypto assets, they can be gone at any moment and this will be irreversible​.