What Is Bitcoin Atom (BCA)?
Bitcoin Atom is a platform that allows users to exchange digital assets in a truly decentralized way. Bitcoin Atom is a Bitcoin fork and uses a hybrid consensus mechanism by utilizing both proof-of-work and proof-of-stake models, making Bitcoin Atom additionally secure and stable, with a lower 51% attack probability. (51% attack refers to an attack on a blockchain, where a single person or a group of people takes control over more than 50% of the blockchain’s computing power.) The Bitcoin Atom platform aims to enable its users to swap digital assets directly between blockchains by employing atomic swaps and built-in hash time-locked contracts (HTLCs), giving them independence from intermediaries and centralized entities.
Atomic Swaps allow two different users on different blockchains to exchange cryptocurrencies directly. Both parties agree to the terms and use their private keys, each to sign off the transaction to make the exchange possible. This is done via hash time-locked contracts (HTLCs). HTLCs are transactional agreements that mandate both the receiver and sender to acknowledge the receipt of payment in a given amount of time. If either party does not acknowledge the transaction in the stated time frame, the cryptocurrency returns to the original sender.
The platform has also implemented an off-chain Lightning Network (LN) to execute exchanges instantly. Lightning Network is an off-chain solution that creates a new layer of interaction between the two parties wishing to exchange funds. This way, the platform allows instant trade to happen regardless of the network load and still keeps the network decentralized. LN transactions are less expensive and have more privacy options, but they are only suitable for smaller transactions.
BCA is the native token of the Bitcoin Atom platform. Despite having a hybrid consensus with proof-of-work and proof-of-stake mechanisms, BCA is not an inflationary token in terms of emission and has the same maximum supply as the original Bitcoin. Inflationary tokens tend to increase in circulating supply over time.
History of Bitcoin Atom (BCA)
Bitcoin Atom fork happened in January 2018. The maximum supply of BCA is 21,000,000 tokens.
