With a recent surge in so-called decentralized cryptocurrency exchange platforms, peer-to-peer (P2P) exchange platform Bisq appears to be one of the very few to attempt serious decentralization.
Once the favored method of exchange, P2P volume has fallen over the years but with increasing privacy and security challenges on centralized exchanges, some like Bisq see a revival in the concept of direct exchange via P2P.
Felix Moreno is one of just a few individuals who work on the decentralized P2P exchange platform Bisq openly. Most people working on it volunteer their services anonymously and for free. Why? Because, as Moreno told Bitcoin News, it is the ”holy grail” of decentralized cryptocurrency exchanges.
Bitcoin News caught up with Moreno to discuss the logistics of running a nearly entirely decentralized exchange, why they will have to fight tooth and nail to keep it that way, and why know-your-customer (KYC) regulations are really just a way for the government to get into your pockets.Moreno’s experience
He has been in the Bitcoin world for a long time, suffered through the Mt Gox fiasco and various hacks and scams before, and now wants to do his part in minimizing these experiences for others.
”What do we need that can make exchanging as decentralized as the Bitcoin network itself? This is the closest we have gotten to that ideal,” he said. This is one of the most interesting projects Moreno says he has worked on, both making him understand what makes Bitcoin special and what potential decentralization can unlock, Moreno explains his belief that Bisq’s founders really try and live up to this standard.A return to private exchanges between crypto users
Bisq founder Manfred Karrer shared these comments about the platform: ”To enable a privacy protecting exchange between fiat currencies and Bitcoin, it is crucial to keep your Bitcoin untainted. Protection of privacy is here directly related to security. There ...