This is very exciting.I came across the Mercury alpha ANN some time last week and had PM’ed mappum since colored coins were part of his ANN. Just downloaded the wallet to check it out and looking forward to see open assets being integrated. Hopefully soonTM
With exchange hacks making headlines on a weekly basis, what would you think of an alternative where no third party exchange is involved in your trades? What if your trades would take place on the blockchain and not on some exchange’s database?
The results are simple:
- There would be no need for exchanges to be centralized.
- Trading is peer-to-peer.
- Trading takes place from wallet to wallet.
Welcome to Mercury Exchange, the world’s first trustless cryptocurrency exchange.
Using the Cross-Chain Atomic Swap protocol, buyers and sellers can trade different cryptocurrencies, without a third-party. A preview is available for download here for testing purposes. The source is released under an MIT license.
Users should note that this is an early alpha version, and it is likely there will be bugs. Users should exercise caution when trusting the software with actual funds.
At present, Mercury v0.1, an alpha version, supports:
Plans to add other currencies and cryptographic assets are being considered, such as:
- Colored coins (USD, company stock, etc.)
- Bitcoin sidechains
The developer, who uses the handle “mappum”, stated on the Bitcoin Forum that he has been working on the project for the “past few months”. He says that any crypto-asset can be exchanged on Mercury, given that it supports the use of transaction scripts.
Mappum told forum users that the software has not yet been audited, but there are plans for the code to be professionally reviewed.
A decentralized bitcoin exchange would have large implications for the bitcoin economy. Users would not have to trust their money to a third party. Because the software is open-source, it can be checked for bugs and security vulnerabilities by the community.
I’ll be closely watching this innovative project that promises some awesome developments.
Who else thinks this might be a killer app for the cryptocurrency markets and beyond?