ADAMANT Messenger: Secure ETH Transfers
The ADAMANT development team have recently been focusing on building an integrated platform feature to allow for completely trustless cryptocurrency transfers, as discussed in our article published earlier this month: ADAMANT Project is more ambitious than you thought.
In short: The idea is to allow for cryptocurrencies to be transferred within the platforms private-messaging chat system in a completely decentralized and secure environment, without third parties or intermediaries.
(See: Why is Blockchain trustless?)
The first goal of adding Ethereum (ETH) wallets and transfers within the platform has been achieved, allowing the transfer of Ethereum tokens within the system possible. This feature works in the same way as popular open-source, client-side application: MyEtherWallet — an Ethereum & ERC20 token wallet-hosting website, that allows users to hold their own private keys without passing on information through the network.
Everytime a user needs to send ETH through the ADAMANT network, a private-key is generated from the ADAMANT wallet passphrase, that all participants use to enter into the ADAMANT Messenger. This feature is sure to add immense value to the ADAMANT Platform once fully integrated into chats, as there will soon be a way to securely transfer ETH.
Transactions work in the same way as MEW (MyEtherWallet) — each user signs client-side, and the transactions are sent to an Ethereum node encrypted. Currently in-development: Separate Ethereum nodes with special database indexes (Such as: EtherScan) to attain all information about transaction history. If you’re somebody who does not trust our application, you will be free to run your own Ethereum node with such indexes and select it in the application — All of ADAMANT’s source-code is available openly within the GitHub.
Note: Only you own your ETH wallet in the ADAMANT Messenger. No-one can access it except you. You have full control under your account. You are allowed to top-up your ETH balance in the Messenger, and move to any other Ethereum wallet, regular Ethereum Gas commissions apply.
We advise all users to keep their ADAMANT passphrase (private-key) safe, as it becomes a door to all binded cryptocurrencies. We cannot recover your funds or freeze your account if you visit a phishing site or lose your private key.
We only allow you to interact directly with the Ethereum blockchain while remaining in full control of your keys & your funds. You, and only you, are responsible for your own wallet security.
It’s important to note, that your ETH address is publicly available, and anyone can view if your ADAMANT address is binded to an ETH address (however, it cannot be binded to a specific person). If you’re worried about security, but anonymity also, then we advise you not to share these identificators publicly.
The reason for this feature: To provide and enable convenient in-chat Ether transfers. No need to ask an interlocutor for an ETH address, you will be able to simply click “Send Ether” in-chat. After a user creates an ADAMANT account, an Ethereum address is created and the blockchain makes a public record in KVS to prove the ETH address is owned by the ADAMANT account (Account balance should be more than 0.001 ADM, to record the transaction). Next, any person in-chat can request the ETH address from the blockchain to send the payment to.
Your security and privacy is of utmost priority for ADAMANT. Thank you for your continued support of ADAMANT, we look forward to providing further updates.