SAN DIEGO, Oct. 15, 2017 /PRNewswire/ -- Altcoin Exchange, the decentralized cryptocurrency exchange, is changing its name to Altcoin.io. This marks the beginning of a new era of altcoin trading that promises the cryptocurrency community complete security of their coins and a safer way to trade.
Altcoin.io wants to empower everyone, regardless of market knowledge, to trade altcoins securely and with confidence. This currently isn't possible with centralized exchanges. They're vulnerable to theft, and require you to relinquish control of your coins in order to trade.
Since June 2011, there have been 26 known centralized exchange hacks involving the loss of nearly $1,000,000,000 in user funds. Until now, the market has failed to respond with a robust solution, and Altcoin.io's goal is to solve this problem.
Altcoin.io aims to be the first decentralized exchange with an unparalleled focus on user experience, security, customer support, and design. By collaborating with the trading community, Altcoin.io will create a safe, trustless platform that enables users to make fast trades without worrying if they're exposing themselves to risk.
Andrew Gazdecki, CEO and founder of Altcoin.io, says, "Our new name is about setting the standard for how we move forward. With this company rebranding, we make it clear our goal is going beyond what already exists to make something better—a decentralized altcoin exchange where you can trade anonymously, securely, and stay in complete control of your funds."
By eschewing the centralized model, Altcoin.io lets traders retain full control of their coins so they can exchange with confidence. There's no single point of failure, no central repository for hackers to exploit, and full transparency in every transaction.
"The centralized exchange model is broken," says Andrew. "As altcoins continue their meteoric rise in popularity, it's more important than ever to establish a secure and trustless exchange but with the trading community involved. Altcoin.io is being built by traders, for traders."
Last week, Altcoin.io completed the world's first Atomic Swap between the Ethereum and Bitcoin blockchains. Building on Decred's successful swap of Decred for Litecoin, Altcoin.io transferred 0.1245 Ethereum to 0.12345 Bitcoins—without first passing ownership to a third party. Atomic Swaps are the key to creating secure decentralized trades that transact as quickly as centralized ones, and this milestone puts Altcoin.io on track for a community release in early 2018.
News of the swap has buoyed Altcoin.io's growing community and was enthusiastically covered by Bitcoin.com, CoinDesk, The Merkle, Cryptovest and others. While there are still some kinks to iron out—such as privacy, options, and order matching—Altcoin.io is confident this is just the beginning of better things in the cryptocurrency community: Altcoin.io hopes to shake up this dynamic market by giving traders what they've always wanted—a safe way to exchange and trade digital assets.
Altcoin.io Decentralized Exchange