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Bitsquare

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Bitsquare
BitsquareLogo.png
TypeP2P Bitcoin Exchange
LocationTor (anonymity network), Onion routing
FoundedJune 10, 2014
Key peopleManfred Karrer
CurrencyFiat money, Bitcoin, Cryptocurrencies
Websitebitsquare.io

Bitsquare is an open source Peer-to-Peer Bitcoin exchange software. While the transfer of national currency requires the involvement of traditional payment channels like banks or payment processors, Bitsquare does not dependent on any particular one.[1][2][3][4][5]

To ensure highest level of privacy, the platform uses a Peer-to-Peer network over Tor, therefore their is no server to hack and all private data sent over are encrypted. The exchange does not require registration which makes identity theft impossible.[6] To achieve this goal Bitsquare employs three technical mechanisms of protection:[7][8][9]

Screenshot of the Beta Version 0.4.6

1. All bitcoins traded with Bitsquare are secured in a 2-of-3 multisignature address.

2. Both traders are required to pay security deposits. These are refunded to them after a trade completes.

3. Bitsquare features a decentralized and open arbitrator system, to be used in case a trade dispute arises.

References[edit]

  1. Wirdum, Aaron van (2016-04-21). "Decentralized, Peer-To-Peer Bitcoin Exchange Bitsquare to Launch Next Week". Bitcoin Magazine. Retrieved 2016-05-24.
  2. Gautham, Author (2016-04-20). "BitSquare is All Set for its Beta Launch on April 27". NEWSBTC. Retrieved 2016-05-24.
  3. Merkle, The. "Bitsquare, the beta version of a decentralized exchange to launch soon – The Merkle". themerkle.com. Retrieved 2016-05-24.
  4. Redman, Jamie (2016-01-20). "Bitsquare: The 'Missing Link' for Decentralized Bitcoin Exchange - Bitcoin News". Bitcoin News. Retrieved 2016-05-24.
  5. "MasterThesis: A Decentralized Bitcoin Exchange with Bitsquare – Attack Scenarios and Countermeasures". www.merlin.uzh.ch. Retrieved 2016-05-24.
  6. "Decentralized Bitcoin Exchange Bitsquare Launching Beta This Week - EconoTimes". EconoTimes. Retrieved 2016-05-24.
  7. "FAQ ‹  Bitsquare - The decentralized bitcoin exchange". bitsquare.io. Retrieved 2016-05-24. horizontal tab character in |title= at position 7 (help)
  8. "Decentralized Bitcoin Exchange Bitsquare Has Only Raised 42% of its Goal with Lighthouse - CCN: Financial Bitcoin & Cryptocurrency News". CCN: Financial Bitcoin & Cryptocurrency News. 2015-02-09.
  9. Yashu, Author Gola (2015-02-09). "BitSquare: A Bitcoin Exchange without Central Authority". NEWSBTC. Retrieved 2016-05-24.

External links[edit]

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