ATBcoin (ATB) Cryptocurrency based on SegWit & Lightning Network
ATB Coin is a one-of-a-kind blockchain-based cryptocurrency designed to deliver blazing fast, secure and near-zero cost payments to anyone in the world. It is designed to overcome well-known inefficiencies within government central banks and other cryptocurrencies.
We believe everyone should be able to initiate transactions that are fully secure, private and anonymous. For that reason ATB Coin contains proven innovations that other coins have not been able to develop and incorporate.
Segregated Witness, Lightning Network, Smart Сontracts and Cloud Mining are here for you. Join ATB Coin now!
ATB Coin incorporates the (best/ most popular)features of DPOS based cryptocurrencies together with the advantages of SegWit technology capabilities In ATB Coin users will be able to obtain decentralization, transparency, privacy, cost-efficiency and low energy consumption, ease of use, and network participation incentives work in line with enhanced security, doubling of the network capacity, smart contracts, lightweight wallet, and cloud mining in order to provide people from all over the world a worthwhile, stable, and more pliable way of handling their financial needs.
The first cryptocurrencies based on Proof-of-stake algorithm, or POS, appeared in 2012 with Peercoin, followed by Emercoin in 2013, and Nxt and BlackCoin in 2014. Just like in every other cryptocurrency blockchain algorithm. The main aim(objective) of cryptocurrency blockchain algorithm as well as POS is to achieve the distributed consensus within the network that is comprised of a massive number of nodes. POS algorithm was developed as a more eco-friendly, resource efficient, and secure alternative to cryptocurrencies based on Proof-of-work algorithm, or POW, that require massive amounts of energy in order to maintain the proper functioning and growth of the network. Coin of cryptocurrencies which are based on POS are created through staking, or simply forged. In other words, all nodes in the network that possess any amount of coins in their wallet and keep the node online are automatically included in the coin forging pool and are therefore eligible to create and sign blocks, ensuring that the distributed consensus is achieved. In May 2017 the world’s second largest cryptocurrency, Ethereum, announced3 that it will make a transition to Proof-of-stake algorithm by the end of 2017.
- Comparison between POW and DPOS
As it has been mentioned above, the only thing that nodes within a POS cryptocurrency need to do to maintain the security of the network and be eligible to earn is to have a certain amount of coins in their wallet and keep their PC online. This mechanism—which both excludes the human factor so notable in POW and DPOS from the mining/forging process and helps avoid spending massive amounts of electricity on creating coins—is the backbone and the most laconic property of Proof-of-stake algorithm. But apart from Proof-of-stake, there are two other algorithms that are used in cryptocurrency blockchains, Proof-of-work and Delegated Proof-of-stake, which are both meant to help blockchain reach a distributed consensus and this way maintain the integrity of the network.
Distributed consensus, is a term which is used in computer science and cryptocurrencies, should be interpreted as a mutual consensus between all members of a cryptocurrency, or its users, on whether the data about transaction in the last block is valid. If this is the case, the distributed consensus will be achieved and the block will be successfully signed, ensuring proper functioning of the network. If the data in the last block is false, is a term a distributed consensus between all active members of the network will not be reached and this block will not be signed, therefore avoiding the possibility of various kinds of attacks that jeopardize the system integrity or result in double spending. In cryptocurrencies that use POW the distributed consensus in the network is reached between its active members, or miners, who need to continuously keep their PCs running and use real energy produced by the GPUs to hash blocks and mine coins. Though this may look as the although, it may seem as the most robust and true-to-life method of reaching the distributed consensus, actually it leads to several serious problems. Firstly, it requires massive amounts of energy due to the increasing difficulty to mine coins. Secondly, in order to survive in the evergrowing mining market, miners are required to purchase expensive equipment which gets outdated in a short period of time and eventually ends up at a landfill site, harming the environment even more. Thirdly, such system leads to appearance of miner monopolies that tend to negatively influence the commission fees and transaction processing times because of corruption, let alone the possibility of carrying out a 51% attack. Delegated Proof-of-stake, or DPOS, is the latest blockchain algorithm which is currently used only scarcely (e.g. BitShares). In its essence, it’s very similar to POS, but it still has a few changes that make it different from Proof-of-stake algorithm.
Network nodes in DPOS cryptocurrencies, or users, create coins in exactly the same way as it’s done in POS cryptocurrencies, by storing a small amount of currency in their wallet. However, all important decisions within the network in DPOS cryptocurrencies are made via the results of elections organized between all active members of the network as well as by the consensus of the delegates or witnesses who are appointed by the active members in order to carry out tasks associated with ensuring security of the network. At first sight this mechanism may look more democratic and transparent, but in practice it overcomplicates the system, makes it more corrupt and less secure due to the human factor, and decreases the user participation rate, in this way causing centralization concerns.
Segregated Witness, which is most often called SegWit, is a proposed update to Bitcoin that was officially released 6n October 2016 in v0.13.1 of the cryptocurrency core. All though, it was originally proposed for Bitcoin network, it can be implemented in any other cryptocurrency. SegWit is aimed to improve the network scaling by increasing the block size limit and decreasing the transaction processing time and fees, enhancing P2SH security to 256 bits, fixing transaction malleability enabling an array of smart contracts as well as sidechain solutions like the Lightning Network, and so on. ATB Coin will be initially powered by SegWit in the very first place—and Lightning Network in the near future—avoiding the process of its adoption by 95% of the active nodes in the network, which is unnecessary for an emergent cryptocurrency.
Since SegWit fixes transaction malleability, the whole cryptocurrency blockchain network become more secure. This allows for creation of sidechain solutions like Lightning Network. Lightning Network is a solution that allows for sending literally instant and free transactions to one or more users of the network thanks to the usage of multisig payments and smart contracts. The idea behind Lightning Network is to create micropayment channels off the blockchain so that the users can send an unlimited amount of payments between each other by either securing them with only one ledger entry in the blockchain and using the blockchain as the arbiter through smart contracts or by applying to a trusted third party for escrow purposes. ATB Coin is planning to launch Lightning Network solution in about three months after its release for purposes of improved scaling of the network as well as cutting the transaction processing times and fees down to the minimum.
ATBcoin Road map:
Crowd sale Open :12. Jun 2017
Crowd sale Closed: 12. Jul 2017
ATBcoin (ATB) We’re Granting $20.000 (ATB). Participate!
What is needed to participate?
All registered users who invest more than 200 ATB are participating in it. For every 200 ATB on your account, you get 1 lottery ticket for the draw, which will be held on a specially prepared page of the site on July 11 at 06:00 PM (UTC).
During the lottery, every 5 minutes the system will randomly select a winner and announce the winners wallet number on the specially created section of our site. Those who invested larger amounts have more chances to win. The minimum balance for participation is 200 ATB.
Prize fund: 1st place. 10.000 ATB 2nd place. 5.000 ATB 3rd place. 3.000 ATB 4th place. 1.500 ATB 5th place. 500 ATB