Cryptos

Will Bisq be a part of Jack Dorsey’s Bitcoin DEX project, or will he? Here are the 411

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NewsBTC reported that Square will create a Bitcoin-only platformDecentralized exchange. They will however work in conjunction with Bisq.peer-to-peer exchange network”? Jack Dorsey seemed to confirm that the organizations were at least going start talking. Why is this important? What makes Bisq so special? Find out more.

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Tweets that are about Bisq

Bisq replied to this tweet, with which Dorsey stated that his company’s TBD Project would be to “Create an open platform to create Bitcoin’s decentralized exchange.“The people from Bisq said that they were building their product.”to be the trusted peer-to–peer DEX for power Bitcoin users“Then, they suggested a collaboration.”Our minds could come up together with something more than we could ever imagine.

Dorsey replied, “Def!Mike Brock, the head of TBD, was copied.

Of course, this exchange does not guarantee anything. However, organizations will meet and they seem to have a lot in common philosophically. The Bitcoin community reacted to Jack’s tweet with a lot more “This is the way.”Exciting gifs, and praise from Bisq.

BTC price chart for 08/29/2021 at Coinbase | Source: BTC/USD on TradingView.com

Why is Dorsey’s DEX Bitcoin-only?

In Square’s decentralized Exchange Announcement by BTCWe have cited the following:

Jack Dorsey’s tweet referenced a lengthy thread by Square Director Mike Brock, TBD Project Manager, which discussed potential development avenues in open source DEX.

“We believe that Bitcoin will be the native currency of the Internet. There are many projects that will make the internet more decentralized. However, we are focusing on a healthy global currency system for all. We think there are a few pieces missing that make it impossible to include everything. Brock said it in one his tweets.

This is in keeping with Dorsey’s original ideas.

Square even created the Bitcoin-focused TBD (“Taxable Blockchain Device”).With the sole purpose of facilitating the creation non-depository, unauthorised and decentralized financial services.

Everything that makes Bisq unique

Manfred Karrer, the co-founder and co-founders of Bisq, was born a few years ago. CoinDesk: I spoke withThe goal is for bitcoin to become as decentralized, as well as resistant to censorship. This is a high goal and bitcoin took a long time in reaching it.“He said. The Bisq siteThey claim that “Bisq is a type of code, not a company.. “And said Software is”Open source and community. “What makes Bisq so special? Well…

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  • “First of all,It’s software you run on your own hardware that connects to Bisq software to facilitate trading.“Kind of like how torrents work.
  • Bisq does not have Bitcoin or any other national currency. All offers are between “The peer traders themselves.”And Bisq has little information on either. “There is no record of who is negotiating and with whom.
  • And, confidentiality.All data for Bisq is sent over its own secure peer to peer network, which is built upon the Tor network and has no central servers.
  • The service is available without registration.
  • “lubricate your wheels”Both traders must pay security deposits. These are refunded after transactions are completed.
  • Bisq doesn’t accept credit cards or Paypal, as chargebacks are too easy.
  • Bisq eliminates “Trustworthy third-party exchange services are essential.
  • The Bisq network ”It is peer-to-peer and does not require any centrally controlled servers or has a single point of failure.

But, it is important to know that not everyone will be the same. hacked bisq onceYou can steal $ 250,000.

Featured image by Jeremy ZeroOn UnsplashCharts by TradingView




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