It sounds terrifying! But this is a peaceful term. It has nothing to do with atomic or nuclear energy, nor with ballistic missiles. Atomic — literally means indivisible. In the context of blockchain networks, it is a trading and financial exchange transaction (transfer of funds from one blockchain to another), which is performed directly without the involvement of intermediaries. The technology of atomic transactions allows P2P trading between different types of digital assets. This is of great importance for the future of cryptocurrencies, since the ability to freely change coins between blockchains opens up a whole new world of possibilities. Atomic swaps can drive traditional cryptocurrency exchanges out of the market, as this technology can give users full control over their money if there is a need to exchange one cryptocurrency to another.

Despite the fact that the concept of atomic swaps was first described by Tier Nolan, the technology is still in development. At its apparent simplicity, while putting such an idea into practice things are not so smooth.

Except for the isolated cases, no one has succeeded in implementing it in mass application. One of the brightest projects that has successfully performed atomic swaps is the Lightning Network. This protocol was developed in 2016, the active phase of testing and launching started only in late 2017. Lightning Network initiates mutual debt obligations for both wallets when trying to transfer funds from one to another. This creates an additional load on the already slow Bitcoin network — to the blockchain transactions are additionally added clearing, which should equalize the balance of the wallets. In addition, the network blocks collateral deposits on wallets, which is also not always convenient for users. Another protocol of atomic transactions — Raiden Network on the popular Ethereum platform, is still being developed.

Nevertheless, the market is waiting for the implementation of atomic swaps. The traders have the most interest in them. And this is really important. All without exception, exchanges have a common drawback — the very principle of centralized exchanges negates many of the advantages that blockchain technology gives. After all, by transferring funds through the exchange, the trader transfers his assets to a third party, that is, loses his sole control. The ability to access a huge number of wallets at one point attracts attention of hackers to exchanges. News that attackers broke into an exchange and seized the funds of users appear in the media almost every day. In addition, there is a risk that state bodies will interfere with the work of an exchange and block accounts.

As an alternative to conventional exchanges, decentralized exchanges have already been established. Thanks to smart contracts, decentralized exchanges are faster and safer than centralized ones. But they also have a drawback. Almost all of them work only with ERC20 and ETH tokens. The rest have a very limited set of currency pairs.

And now imagine that all crypto assets can be bought, changed and stored in one wallet. How much time will it save you? Minutes, hours? The perception of time, of course, subjective, but I’m sure the benefits will be tangible. And let’s go even further. Imagine that you set up a wallet in such a way that when the market situation changes, it will automatically signal you about the necessary transactions. You go into your account, click the “Run” button, and voila — your portfolio is again in perfect balance! And this is no longer a fantasy. This set of services has already been implemented in the Blockchain Ventureon project. Now we are testing atomic transactions and smart contracts that manage external assets. So far, everything is going well. Developers regularly publish reports on successfully conducted tests on the site of the project vnn.money.

The Ventureon team designed a new blockchain not so much for traders as with a focus on startups and venture investors. Initially, they encountered inconveniences when trying to conduct an ICO for their own project. You can start public placement of tokens only on Ethereum, you can not get depositors’ funds in other currencies, you need to mediate exchanges, and there are difficulties with programming a smart contract.

Traditionally already, I give the floor to the founder — Anton Sobor:

“We have approached the problem in detail. There were a lot of blockchains, but few people bothered with the problems of startups. We focused on infrastructure. One of the first infrastructure solutions, we made direct transactions from VNN to extraneous platforms — to BTC and back, to ETH and back, to fiat, to the MasterCard. We have published all supporting links in the Development Diary on the site. You can go through them and make sure that the transactions have really passed and been confirmed in all networks. Thus, we can connect any blockchain to atomic transfers. ERC20 tokens, the most common, can be freely transferred in all directions. “

So, what will the users get if the project is successfully launched on August 20 this year?

The first is the convenience of using the wallet and the infrastructure of Blockchain Ventureon. Over time, it will be possible to store all cryptocurrencies that will be connected to the VNN gateways. It will be convenient to transfer funds quickly from one asset to another. For example, if you need to rebalance the investment portfolio with an orientation on the fluctuations of quotes. For ICO or crowdsales — automatic reception of all top cryptocurrencies and fiat money.

The second is, of course, the usage of smart contracts in conjunction with the technological advantages of the platform. Despite the billions invested in the development, the leading blockchain-platforms are not yet ready for implementation in real business. They are slow, cumbersome and inconvenient. With the help of Blockchain Ventureon it is now possible, for example, to manage digital assets from other blockchains and even fiat means, bypassing exchanges. Or activate smart contract actions for any scheduled external events, such as sending an invoice, confirming receipt of the transfer or delay in the delivery of the goods. Accept payments for a smart contract from other blockchain-networks. Yes, and even to give the homeless John a can of beer in the vending machine number 3 of the shopping center in Orlando for every degree of air temperature rise above 20°C! You can automate a lot of useful processes.

All this give me confidence that Ventureon will become one of the top blockchain systems, with the successful attraction of funds for scaling, of course. Based on the opinions of recognized blockchain experts, I think that this will not be very difficult. Here is an example of one of these comments.

Aravinda Babu (Technical Blockchain Advisory):

“First of all Atomic swaps is one of the brilliant concept of decentralization world. It is one of the feature which will enhance the use of real decentralization. As a technical blockchain expert i know how important is Atomic swaps and i researched the present atomic swap product line. Most of the atomic swaps in current market are not fully functional in terms of performance and supporting various cryptos belonging to various blockchains. The major pain points right now in the market are performance, supporting various cryptos and utilising smart contract functionality fully. Ventureon exactly solving this issue. As a smart contract developer and Security Auditor i know how much use to all crypto market once these problems are solved. This solution really helps ICO fundraises because so many of my clients are facing problems when they try to raise their ICO using various crypto currencies. Some are using high cost middle men solutions which are of no great use.”

If you are still interested, wait for new articles. In the following publications, I will talk about when the Blockchain-Notary will be launched, giving rise to the history of supranational regulation of the relationship of subjects in the blockchain environment.