This is what we need, i want to see tons of working decentralized exchanges happening.
What is the difference if you compare this to Coinffeine??
What is the difference if you compare this to Coinffeine??
Hi, I'm Marc from Bitsquare.
Coinffeine is a company, a startup business model, which we're not. Bitsquare is a non-profit, supposed to be from the community for the community. We take decentralization seriously, our main focus is to avoid single points of failure.
Coinffeine are essentially paid by investors, like in their first funding round by the spanish bank bankinter: http://blog.coinffeine.com/2014/11/17/the-spanish-bank-bankinter-invests-in-coinffeine/
As you can see in their blog http://blog.coinffeine.com/ they are on the look for more vc capital in NYC. In fact Coinffeine considers banks as clients:
https://letstalkbitcoin.com/blog/post/bitcoins-and-gravy-49-coinffeine-the-distributed-bitcoin-exchange
That wouldn't be acceptable for Bitsquare.
Bitsquare will hopefully be paid for by the community that it's aimed at. We actually made a start by working and paying for v0.1, including fuctional public software.
Last time I checked, Coinffeine didn't do public testing. (they do closed testing, I'm not sure if that has changed yet)
Coinffeine uses micro-payment channels to mitigate risk of fraud, whereas our protection system is a combination of security deposits and a decentralized arbitration system: https://bitsquare.io/bitsquare.pdf
Coinffein will use OKPay as fiat payment processor. Bitsquare will support most if not all 'hard' payment methods https://en.bitcoin.it/wiki/Payment_methods
I made this post to answer your question, to show the differences there are even if they use the same terminology like we do. I, by no means, want to discredit Coinffeine.
Feel free to ask anything or get involved. We're in need of a strong community.
https://bitsquare.io/
Edit: Replaced arbitration paper with white paper, because the arbitration paper is a bit outdated
