Centralized exchanges put your digital tokens at risk
$9,800,000,000 worth of Bitcoin has been stolen by hackers.
Most cryptocurrency exchanges are centralized, storing billions of dollars worth of tokens in a single repository. By taking custodial control of your tokens, they create a virtual honeypot for hackers: all they need do is exploit a single weakness to access the funds of every trader doing business on that platform. Since June 2011, hackers have infiltrated about 30 exchanges, stealing billions of dollars in digital currency.
Some of the major Bitcoin heists in the last 5 years:
|Month / Year||Exchange||Number of Bitcoin Lost|
|Feb '14||Mt. Gox||650,000|
All the major cryptocurrency exchanges you've heard of, like Coinbase, Binance, Poloniex, and Bittrex, are all centralized.
Altcoin.io: a decentralized exchange for decentralized currencies
We're decentralized because trades are made peer-to-peer: we never hold your tokens so there's no single honeypot for hackers to break into. For crypto trading to truly flourish, we need an exchange that is safe, fast, easy to use, and highly liquid.
Introducing a sidechain for Ethereum trades
We're developing a Plasma sidechain for tokens on the Ethereum network which locks token value and provides users with proof of locked value before making tokens available to trade. It's a secure way to trade off-chain and then put everything back on-chain once the swap is done. It's a little complex, so if you're curious, you can learn more here.
Our future: a highly liquid exchange
The decentralized exchange that wins will have the largest amount of digital assets. Having lots of digital assets means a highly liquid market where users can trade quickly.
To do this, we plan to white-label and license our secure trading engine to non-technical businesses that want to launch their own exchanges. They can customize the interface to cater to different traders' needs. In this strategy, everyone wins – we all share liquidity, making Altcoin.io's engine the strongest decentralized exchange on the market.
Our Progress So Far
Completed first ever Ethereum and Bitcoin Atomic Swap
Released Beta Atomic Swap Wallet with multiple tokens to trade
Pivoted to a sidechain/Plasma trading model
Mainnet launch of first ever sidechain/Plasma DEX