What’s the first thing you mention about Bitcoin when trying to explain it for the first time? Obviously, it’s the classic go-to line: it is a decentralized digital currency… etc. Bitcoin is decentralized, and that’s what makes it so great. No one to control or impose authority over it – just the people and the Bitcoin community. A community that has been rocked several times in the past by centralized Bitcoin exchanges – until now.
Today, a brand new site has launched and is a pioneer in the Bitcoin space with a concept that seems like something we all should have thought of a long time ago. It is a decentralized Bitcoin exchange and it’s looking to take the Bitcoin community by storm. Here’s all you need to know about the brand new company, Coinffeine.
Coinffeine, like many other Bitcoin startups, is aiming to make life simpler for Bitcoin users in that it has created a network for Bitcoin transactions that is entirely decentralized. The company is entirely open source and peer-to-peer Bitcoin exchange that will maintain the anonymity of both the seller and buyer in a given transaction and help ensure a smooth and secure payment process.
Considering Coinffeine has dubbed itself the ‘BitTorrent for your Bitcoins’ it appears to be pushing the P2P side of things the most. The site appears to want its user to feel like they can share and trade freely as easily as one would share a large .avi file with a coworker via BitTorrent. I like where they’re going with this, and the idea behind a completely decentralized Bitcoin exchange is something that could really explode within the community. They certainly weren’t looking to have a soft opening after launching in 70 countries worldwide – aka the largest crypto-expansion ever – so look for this company to do big things.
After the security issues that have plagued many popular Bitcoin exchanges such as Mt. Gox, Cryptoine and Cavirtex, this is a refreshing new beginning for the Bitcoin transaction space, and Coinffeine appears to be off to a good start.
Currently, you can download Coinffeine Beta from the company’s website for Windows, Mac and Ubuntu and stay tuned for when the official Coinffeine service goes live. I know we will stay on top of this one because the world’s first decentralized Bitcoin exchange is not something that will go quietly into the night. This is big news for Bitcoin, and we’re definitely excited.