A wallet is, first of all, a convenient interface for any network

A wallet is, first of all, a convenient interface for any network. It manages your private keys, which are essentially the keys to the lock on your cryptocurrency vault. The application allows you to manage multiple wallets simultaneously. The functional allows receiving and sending coins, check the balance and history of transactions.

Mobile wallets are convenient if you want to pay with crypto in real life. You do not need to download the entire blockchain, which saves free space on your smartphone. Another feature is the high speed of work and connection. The wallet charges the lowest commission and only for transfers. Asirtum wallet is software that generates wallet addresses and encrypted private keys that you can use to send and receive a cryptocurrency. The DApps browser allows users to view decentralized third-party applications and makes it easy to send virtual currency transaction data to blockchains without requiring you to download or install the appropriate software on your local device.

The wallet cannot recover the password as it keeps your wallet address, it does not receive or store your wallet password, an encrypted private key, an unencrypted private key, or a mnemonic phrase associated with your wallet. You need to either import or create a wallet to use all the functions of the Asirtum ecosystem. You have complete control and ownership of your cryptocurrencies. That is similar to the mantra repeated by many people in the blockchain industry: “Be your bank.”

In Asirtum, you only need to worry about the security of your mnemonic recovery phrase, just like you are securing access to your email. Asirtum users can exchange cryptocurrencies by automatically searching for a buyer using a technological smart contract (atomic swaps) everything is done directly and without intermediaries.

It seems that the developers of the Asirtum ecosystem heard Charlie Lee, and began to work on adapting an innovative technology – salvation for the crypto market. In today’s cryptocurrency trading world, most transactions are on exchanges. However, the actual trading data can often be falsified, and many well-known crypto exchanges are not squeamish with fake volumes. The statistics of transactions in digital currencies are virtually untrustworthy as websites that track digital assets are still track OTC, P2P, or other types of decentralized trading.

Atomic swaps are first-rate technology and caught the attention of many followers during the crypto fever. However, the technology has come a long way to being implemented. The fact is that all these decentralized currencies, tokens, and digital assets are overly centralized in fact. Most of the leading exchanges operate as a centralized authority. It controls user funds and makes decisions about currency trading – when, how, and under what conditions. But it all looks more like a sinister way of building a monopoly.

Atomic swaps can change the rules of the game. In addition to providing direct connections to users and eliminating intermediaries, they also provide the opportunity to create a vast number of potential trading markets to be created on the go. As a result, any currency, token, or asset becomes fungible with any other offers on the market at that time. Simplification is the key as everything can be done in one click.

Atomic swaps have eliminated the need for a third party. So, there are no fees for the creation, receipt, withdrawal, and deposit. Users will continue to pay for online transactions, for sending money to other users, etc. These traders work through their separate networks or blockchains every time, and a few currencies can be transferred without a commission.

Every cryptocurrency trading company is prone to systemic issues like service, regulatory issues, and so on. All of this requires a lot of trust from users in the company they are using. It is far from an ideal situation in market projects that looks like schemes and pyramids. Atomic swaps are not prone to problems with wallet maintenance, platform-specific regulators, or the need to trust anyone other than themselves and another user involved in the transaction. It is important to emphasize that both users retain their private keys throughout the atomic swap process. As a result, trading atomic swaps is much safer than trading assets on a centralized exchange.

Interaction in this industry is a required condition for achieving basic growth. Otherwise, it will always remain a very limited niche in the industry. The existing infrastructure also forces users to focus on the “major markets”.

Atomic swaps can change the pattern of today and bring the market closer to the public. Unsurprisingly, the ability of free exchange of currencies, tokens, and asset-sharing enhances overall diversification. The ability and variety of these offers can lead to the creation of a unique cryptocurrency ecosystem that is different from what we are currently dealing with. Moreover, atomic swaps will ensure compatibility between different cryptocurrencies at different scales. We will face a lot of digital asset interactions in the coming years, as new tokens are getting huge attention.

We are building an asset-exchanging system and want to exclude the intermediate storage of these assets, but we need to secure the transaction. An atomic swap is an exchange scheme where a guarantor is a smart contract that allows only honest behavior. Participants can only act according to the only correct scenario and suffer losses if they deviate from the terms of the contract. The order is provided by the hash function, in which collision is so difficult to find.

The developers’ solution is an automatic search for a person who buys your crypto for himself safely, paying only the network commission. Participants cannot lose their money. Otherwise, they will have to wait for a refund.

Cryptocurrencies are not very fast, and here we have to wait first for one deposit with all the confirmations, then the second.

It is because the participant first contributes the money, and the opponent waits for the final. Only then transfers his part, while either side can change its mind about making an exchange at any time.

We are dealing with a very volatile asset, so the exchange rate can change very significantly.

When the exchange system knows about your business, it is very unpleasant. When everyone knows about it, it is twice as unpleasant. We took that into account, and took care of your privacy, protecting your data. We can use a contract as a sender that makes all the necessary passes by checking the key signature before doing that. Anyone can sponsor a member’s commission, but only those who know the key make the decision. We transfer the swap to the off-chain: the participants exchange signatures to transfer to the swap contract, and then the secret is revealed privately. At this moment, harmony ensues and the participants can complete the deal at any time. In a safe and friendly environment, they can exchange signatures to transfer money to final addresses.