Having seamlessly executed our token generating event (TGE), we immediately turned our attention to another TGE within the VeChainThor ecosystem: Plair (PLA). Upon the successful distribution of both SHA and PLA, utilizing a fully operational blockchain based production, we can confidently state that Safe Haven has completed a pivotal phase in the development of our project, while building a product that provides immediate value to the blockchain.
To further introduce the tool which helped us tremendously during TGEs, we are proud to announce ThorPay a product based on Atomic Transactions Protocol (ATP): a product for making contract-based distribution simple. ThorPay Alpha has already been successfully integrated into the VeChainThor Blockchain and is fast approaching Beta phase.
Why have we developed the Atomic Transactions Protocol or ATP?
Ease of use is a determinant for mass adoption. Day-to-day operations within this space may involve initiating several, if not hundreds of contracts. This task can be difficult and time-consuming; the use of current methods increases the possibility of error with each contract. Those who are unfamiliar with the underlying technology cannot enter the blockchain space with confidence. Therein lies the problem: mass adoption cannot occur without confidence on micro and macro levels. Mistakes regarding digital assets are unacceptable. Loss in these situations is likely permanent, increasing apprehension toward the developing technology.
Enter Atomic Transactions Protocol
We have developed this product as we see the necessity for it within the blockchain community. It is for the reasons mentioned above (and many others) that we have developed our ATP product line.
An ATP or atomic transaction is an indivisible and irreducible series of operations: all occur or nothing occurs. Atomic transactions with the addition of clauses offer even more, as they guarantee all clauses will succeed together or fail together. If one sends money to their bank account and then sends money from one’s bank account to pay a bill, it would be negative if the transfer to your bank account fails, but the transfer to your bill succeeded. We see this technology being applied across a multitude of industries.
- A solution for moving towards mass adoption
- Easily utilized by those who are sending to multiple parties; however, have little knowledge of smart contracts
- A method for the VeChainThor and Safe Haven community to further utilize blockchain technology
- For this, you must be a registered user of the Safe Haven Platform and holder of the Safe Haven Connect, Harbor, Consensus or a Legacy Masternode (more details on the masternodes to follow)
Advantages of the VeChainThor Blockchain
Outside of building our core solutions, we are dedicated to the VeChainThor ecosystem. We strive to utilize this technology’s capacities while developing it further.
One method of improving development consists of using unique features within the VeChainThor Blockchain to advance its ability to quickly obtain enterprise applications and integrate them into the blockchain solutions. This is why we developed the ATP, specifically utilizing VeChainThor Blockchain advantages.
The major leap in this technology lies in the ability to include several clauses together in one transaction, defined by the clause field. To put it simply, the clause field is a set of individual clauses. This is something we found only capable on the VeChainThor Blockchain.
ATP allows a single transaction to have multiple outputs. By invoking ATP, we have included multiple tasks in a single transaction resulting in a more powerful and flexible clause system beyond the capabilities of other blockchains.
Within the crypto-market, wide distribution of tokens is painstakingly complex without enacting a smart contract — all transactions must be sent individually. ATP makes these complex processes simple for those unable to write smart contracts and is more reliable than sending out individual transactions. The functionality of ATP has never been accomplished before, and it is thanks to our developers and the unique attributes of the VeChainThor Blockchain. With this technology, using the blockchain for such complex purposes can become mainstream and easily implemented.
In using ATP, our token distribution was executed smoothly when using just the clause field, resulting in multi-task transactions. Power and flexibility was immediately transparent.
We are taking the ATP offering and packaging it into several products to showcase on the Safe Haven platform, as well as integration for other third-party solutions. This functionality is designed to be incredibly easy to access and utilize for every day crypto users, and developers who are looking to use our protocol in their solutions. We will announce more information related to these solutions and how they empower our unrevealed masternode system shortly.
Where and how you can leverage the power of the Atomic Transactions Protocol (ATP)?
After the closed alpha and beta releases, the ATP will be available on the Safe Haven platform, specifically built for third-party developers, bounty organizations, payment processors, and others who regularly issue multiple blockchain payments. Once successfully launched, we will release more information regarding the use and management fees associated. Use of the ATP will come with direct support from Safe Haven developers, if and when necessary.
As always, we would like to thank our Safe Haven community and the entire VeChainThor ecosystem for your continued support.
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