AtomicDEX

November 21, 2023 - Around 2 mins mins to read

What Is AtomicDEX?

AtomicDEX is a cryptocurrency wallet and decentralized exchange combined into a single application available on desktop, mobile, and web.

AtomicDEX allows users to send, receive, and trade various coins such as Bitcoin, Ethereum, BNB, ERC-20 tokens, and BEP-20 tokens. The standout feature of AtomicDEX is its ability to eliminate the need for downloading the entire blockchain.

A crucial aspect of the AtomicDEX wallet is the utilization of a 24-word seed phrase. This seed phrase must be securely stored or memorized by the user as it is essential for recovering funds in case of a forgotten password.

The decentralized exchange on AtomicDEX utilizes P2P order books powered by atomic swaps. These atomic swaps enable direct cryptocurrency transfers between parties without the involvement of a third-party intermediary.

AtomicDEX is part of the ecosystem products developed with Komodo AtomicDEX API, an open-source framework compatible with 99% of cryptocurrencies. Other examples of products utilizing Komodo AtomicDEX API include DogeDEX and GleecDEX.

Author: Kadan Stadelmann, CTO of Komodo

Kadan Stadelmann is a blockchain developer, operations security expert, and Chief Technology Officer of Komodo. Komodo is an open-source technology provider that offers comprehensive blockchain solutions for developers and businesses. Komodo closely collaborates with organizations interested in launching their own custom decentralized exchanges, DeFi platforms, and independent blockchains. The flagship technology and end-user application of Komodo is AtomicDEX, a non-custodial multi-coin wallet compatible with mobile and web platforms. AtomicDEX is powered by atomic swaps and serves as a decentralized exchange. Kadan strongly aligns with Komodo’s open-source vision and ideology. His dedication to the Komodo project stems from a deep desire to contribute to a better world. Apart from cryptography, blockchain technology, and development, Kadan has a keen interest in literature, mathematics, astrophysics, and traveling.