Bitcoin Atom Fork to be Completed Soon

Bitcoin Atom aims to eliminate weaknesses in BTC by bringing a hybrid consensus approach, on-chain atomic swaps via HTLCs and their faster off-chain lightning analogs
22 January 2018   852

Bitcoin Atom (BCA) is a SegWit enabled Bitcoin fork with atomic swaps, hybrid consensus and lightning network which will be implemented on block #505888 on January 25–26, 2018. The fork aims to eliminate weaknesses in BTC by bringing a hybrid consensus approach, on-chain atomic swaps via HTLCs and their faster off-chain lightning analogs.

Features of Bitcoin Atom:

Hybrid Consensus

BCA network is additionally secured by utilizing the so-called hybrid consensus: both PoW and PoS models are put in place, increasing network stability and reducing the power of miners, hence lowering the 51% attack probability.

Lightning Network swaps

Bitcoin Atom development team is working on the LN implementation, allowing for instant off-chain atomic swaps. LN transactions are cheaper, more useful for smaller transactions and have better privacy properties.

Hash time-locked contracts (HTLCs)

By using built-in hash time-locked contracts (HTLCs) and its own HTLC API, Bitcoin Atom attempts to disrupt the way we exchange cryptocurrencies today, giving independence from intermediaries and any centralized entities.

Specification:

  • Ticker Symbol: BCA
  • Max Supply: 21 Million
  • Distribution: Mining, Minting, Claiming
  • PoW algorithm: SHA256
  • PoW Block Interval: 10 Minutes
  • PoS Block Interval: 10 Minutes
  • Block size (actual): 1M (2-4M)
  • Difficulty adjustment: 2 Weeks
  • Avg tx confirmation time: 5 Minutes
  • Atomic swaps: Yes
  • Segwit: Yes
  • Replay protection: Yes
  • Unique address format: Yes

All Bitcoin holders who possess their private keys at the moment of the fork #505888 will receive Bitcoin Atom at the rate of 1 BTC = 1 BCA.

Wallet partners:

  • Coinomi wallet
  • ESR wallet

Exchanges:

  • OKEX
  • YObit.net
  • Exrates

Links:

  • Facebook
  • Twitter
  • Telegram
  • GitHub

First real-life cryptocurrency robbery reported in Taiwan

Four men stole 5 million Taiwanese dollar worth of Bitcoin, the police has already arrested the suspects
22 February 2018   57

Bitcoin has attracted lots of unwanted attention from hackers and scammers alike. Recently not a week passes without news of an exchange or user being hacked or some company's computers being hijacked to mine cryptocurrency. And now Taiwanese news outlets report first real-life robbery of Bitcoin in their country.

The robbery took place in Taichung, Taiwan's central city. The police reports three men being involved in the robbery itself and one as a planner. Criminals persuaded the victim to meet with them face-to-face under the guise of being interested in buying Bitcoin from him. After the victim showed the robbers the proof of his bitcoins on his phone, the men attacked him and his friend and transferred 18 bitcoins worth 5 million Taiwanese dollar via the phone wallet.

The suspects then forced the unfortunate seller to drink strong local liquor to make everything look like a drunken fight had taken place. The police arrived at the scene after receiving the reports of a fight and found two victims. Two of the offenders had fled, but the third has been arrested at the scene of the crime. He later provided investigation with information about his accomplices. They were arrested soon after.

The police later apprehended the man believed to be the mastermind behind the plan. All this was released in the yesterday's report by the Taiwanese law enforcement and the case is already viewed as “the first domestic case of bitcoin robbery”. The report doesn't mention if the crypto was returned to the rightful owner.

Similar cases has been rumored to happen in the US, but no records are released as of yet. So the unofficial governmental advice is to be more cautious of the buyers requesting face to face meetings in the light of this event.