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? There would be no need for cryptocurrency exchanges to be trustless bitcoin stock on trust.
Welcome to Mercury Exchange, the world’s first trustless cryptocurrency exchange. An alpha version of the software is available for download from its Github repo. The source is released under an MIT license. He said 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. It should be functional enough to test out with a small amount of money, but I’m still looking to get the code audited and to fix some general bugs. A trustless 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. However, Mercury Exchange still has some drawbacks. I’ll be closely watching this innovative project that promises some awesome developments.