ATB Coin

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This article was considered for deletion at Wikipedia on August 4 2017. This is a backup of Wikipedia:ATB_Coin. All of its AfDs can be found at Wikipedia:Special:PrefixIndex/Wikipedia:Articles_for_deletion/ATB_Coin, the first at Wikipedia:Wikipedia:Articles_for_deletion/ATB_Coin. Purge

Software

ATB Coin is an electronic payment system using the likely-named cryptocurrency. ATB Coin was originally created using modern technologies. Cryptocurrency is used for exchange of major cryptocurrency or fiat money in exchangers, as well as, for use of electronic payment for goods / services from sellers accepting this cryptocurrency.

ATB Coin uses the progressive POS (Proof-of-stake) protocol. Initially, the PoS protocol was created to find vulnerabilities and optimize them. The most critical vulnerability was the risk of attack of 51%, where one object may have a superior percentage of production in the network. Thus, it gains full control over the network and can manipulate the blockchain. The implementation of the PoS protocol in the ATB Coin cryptocurrency also allows you to earn interest from the amount held on the account of the user. It works as follows: if the user's wallet has 1% of the total amount of coins mined by the community, that user will receive 1% of all the generated blocks only for keeping this cryptocurrency in their wallet. The system based on PoS tends to an infinite generation, which could be the cause of inflation. However with the development of the network, the algorithms for generating digital blocks will become more complex, thereby will reduce mining.

Etymology and Orthography

The name "ATB Coin" stands for Alternative Technology Base abbreviation, in which the basic idea of the platform is established, combined with the word "Coin", reflecting the functions of the instrument itself. For convenience of the designation of exchange units, the abbreviation ATB is used in capital letters.

Creation

The blockchain crypto-platform ATB Coin was conceived and created by a team of specialists led by a large investor from the famous American family of inventors - Herbert W. Hoover - as an alternative to all existing payment systems or, according to the founder himself, as an "interesting solution for interested people".

The idea was proposed by Herbert back in late 2016. After a detailed study of the market and several months of work on the system architecture, on June 12th, 2017, platform crowdsale had started, and within the first month, the ATB Coin creators announced the open testing of the ATB Coin wallet.

Description

ATB Coin is a balanced cryptocurrency platform based on cryptography and Proof-of-stake protection method that successfully solves most of the existing problems in PoW cryptocurrencies using the most progressive PoS functions, making it even more efficient and flexible, emphasizing itself with SegWit protocol and Lightning Network Technology.

Principle of Operation / System Architecture

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PoS Protocol

ATB Coin uses the progressive POS (Proof-of-stake) protocol.

Initially, the PoS protocol was created to find vulnerabilities and optimize them. The most critical vulnerability was the risk of attack at 51%, where one object may have a superior percentage of production in the network. Thus, it gains full control over the network and can manipulate the blockchain.

The implementation of the PoS protocol in the ATB Coin cryptocurrency also allows users to earn interest from the amount held on the account of the user. It works as follows: if the user's wallet has 1% of the total amount of coins mined by the community, he will receive 1% of all the generated blocks only for keeping this cryptocurrency in his wallet.

The system based on PoS tends to an infinite generation, which could be the cause of inflation. However with the development of the network, the algorithms for generating digital blocks will become more complex, thereby will reduce the mining.

Segwit

ATB Coin is based on Segwit Technology which is able to solve the scaling problem inherent in PoW cryptocurrencies.

At the moment, it is possible to conduct a maximum number of 7 transactions per second in the Bitcoin network, while Segregated Witness Technology involves extracting the transaction signature and placing it in a separate data structure and thus reducing the transaction volume by approximately 47%. The block, without changing its size, can keep almost twice as many transactions.

In addition, SegWit uses the "fraud proof" technique, which is authored by Satoshi Nakamoto, strengthening the protection of nodes that do not verify in all transactions on the network and consequently do not store the entire block. To verify if a transaction has occurred, the node scans the block by the corresponding transaction ID.

Lightning Network

Lightning Network is a new protocol optimizing the block network. Lightning Network is based on the usual bitcoin-transactions, but these transactions are not transferred to the bit-network (at least not immediately). Instead, they are stored on local user nodes, but can be sent to the network at any time.

The second element of the Lightning Network is protection against double waste. If two transactions refer to the same output, only one of them can be confirmed by the miners.

The Lightning Network uses a multi-signature scheme "2 of 2", that is, to spend coins stored at one address, you need two signatures generated using two private keys.

Smart Contracts

Smart Contracts is an electronic algorithm describing a set of conditions, the realization of which entails real life events known to all. This feature is able to turn many traditional contracts into a cryptographic solution providing users with protection and reliability due to the decentralized environment and the absence of human factor. Unlike traditional contracts, smart contracts are deprived of the risks of ambiguous interpretations of conditions or unfair judgments of courts. A smart contract can be implemented in various financial products, such as installments, partner programs, signed transfers, insurance, and trade.

Software Implementations

Smart contracts are a high-level programming abstractions that are compiled to the EVM bytecode and deployed to the Ethereum blockchain for execution. They can be written in Solidity (a language library similar to C and JavaScript), Serpent (similar to Python), LLL (low-level Lisp-like language), and Mutan (Go-based, but obsolete). There is also a research-oriented language, which is developed under the name Viper (a strongly typed Python-based language).

Transactions

The average time for the transactions of most large PoW cryptocurrencies, compared to the cryptocurrencies operating on the PoS algorithm, is twice as much. Thanks to the use of SegWit technology, the speed of creating one block in ATB Coin has been reduced by 4 times and is 2.5 minutes against 10 minutes in PoW cryptocurrencies.

Commission for the transactions, due to the PoS algorithm and the lack of physical mining, is less expensive than similar commissions in PoW platforms by approximately 10 times.

Micropayments

The ATB Coin system offers users the service of micropayments (or microtransactions) - a business model providing access to the services or content, as well as paying for purchases at low prices. The channel for quick payment in small amounts became possible due to the use of the Lighting Network protocol. The service of microtransactions allows you to offer payment solutions for monetizing access to services and Internet content, applications and mobile phones, donations, as well as for paying for purchases within games, articles, videos, and paid content.

ATB-code

ATB-code is a service inside the ATB Coin wallet adding a number of extra features to the storage and transfer of cryptocurrency. ATB-code is a modified analog of BTC-E codes. The underlying idea was implemented on more reliable and modern protocols with its own, autonomous blockchain.

Scope of ATB-code Application:

Cold storage of coins. Any amount available on the balance can be converted into a code that shall be written down on paper, printed on a printer, or simply photographed. In this form, you can store the code as long as you want. When there is a need to use the funds, you can enter the code written down before and the coins appear on the balance again.

Transfers to the recipient whose address is unknown. Coins can be sent even to those users whose address is not known. For this purpose, the code is generated, and sent to the recipient by e-mail or SMS. The recipient imports this code in his/her wallet and replenishes the balance with the amount of the code.

ATB Coin Wallet

Equivalent to the physical wallet for operations with ATB Coin cryptocurrency, which does not require much space for its installation and has additional functionality of ATB-code: the ability to carry out the transfer of funds by code.

The beta version of the wallet became available one month after the ICO launch. For two weeks of testing the wallet in the beta mode more than 1500 users took part in it.

Decentralization

As in the case of Bitcoin and other cryptocurrencies, the idea of decentralization lies at the heart of the ATB Coin system.

Confidentiality

Although the information on transactions in the book is public and stored in an open, unencrypted form, confidentiality is achieved by the lack of personification of address owners. Thus, it is difficult to link information about transactions with any particular user or company.

Security

ATB Coin uses several cryptographic algorithms to ensure the security of its users:

ECDSA, a public key encryption algorithm that is associated with every coin in a system using a public key, private key, and signature, so that each blockchain node can verify the coin's identity.

SHA-256 is already a well-known encryption algorithm, which is considered the gold standard in most crypto-conversions in the world.

ICO

ATB Coin ICO started[1] on June 12th, 2017 and a month later - on July 12th- ATB Coin announced the start of open testing of the ATB Coin wallet. By this time, the amount raised by the ICO has exceeded $ 14.5 million with more than 2000 investors.

Economic description

Classification

ATB Coin is a cryptocurrency, used both in the virtual economy (for example, in online games), and for purchases of real goods and services directly. As in other cryptocurrencies, the key feature of ATB Coin is the absence of any internal or external administrator.

Therefore, banks, tax, judicial and other public or private bodies can not influence the transactions of any participants in the payment system.

Price volatility

The price volatility of ATB Coin is formed exclusively by the supply and demand correlation, without being tied to any currency, cryptocurrency or other asset. Taking into account the positive factors lowering the volatility - an increase in the network of buyers and sellers and the improvement of the infrastructure for the use of the digital currency, - the corresponding actions and measures are planned in the ATB Coin road map.

References

External links

Yay. This is how Deletionpedia v2 got started. Guaka (talk) wanted to rescue some Wikipedia articles for Coinwiki.