Ruxum: Wall Street Level Security Comes To Bitcoin With New Exchange
Posted on July 18, 2011 at 08:11 AM EDT
You've probably by now heard about Bitcoin , the person-to-person digital currency based on Satoshi Nakamoto's open source software, that is either a giant scam, a genius and innovative new frontier, or nothing new -- depending on who you ask. For those unfamiliar, TechCrunch contributor Jon Evans best described it succinctly thus: "Bitcoin is an anonymous online currency whose transactions and monetary supply are verified by digital cryptography and maintained by an open-source peer-to-peer network" . The digital currency has evolved in fits and starts, like any early currency and exchange, and last month we covered the much-discussed collapse of Mt. Gox, the network's most popular exchange . Tumult everywhere you turn. Based on the vulnerability of Mt. Gox and other Bitcoin exchanges, Chad Pankewitz and team have founded a new exchange, called Ruxum , that is dedicated to bringing a more secure alternative for Bitcoin (and Namecoin) traders. Simply put, Ruxum makes it easy to buy, sell, and trade Bitcoin and virtual currency. And for now it's free. (Invites herein.)
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