Announcing the release of alpha version of various Mastercoin wallets at: www.mastercoinwallets.org
Try out a couple decentralized trades with your friends! Or join us at the ##Mastercoin IRC Chat room.
If you haven’t heard about Mastercoin it is the native coin of the Master Prootocol, which among other capabilities, enables decentralized trading of virtual currencies on Bitcoin. Today on February 24th our development staff has officially released an alpha version of a Windows-based wallet where you can test out the concept of decentralized trading of small amounts of bitcoin with “Test Mastercoins” to get acquainted with how it works.
The very cool think about decentralzied trading is that it requires no log-ins or accounts at exchanges. In fact the concept of a central authority for exchange operations does not even exist. Transaction and account data is stored on the Bitcoin Blockchain. You keep your secret Private Keys to yourself. The ultimate sense of security!
Trading Bitcoins and other virtual currencies can be dangerous if you have to choose to trust partners in far off lands; case in point is the very fresh drama enveloping MtGox. Keep in mind that Bitcoin is designed to let anyone send bitcoins without the need to trust third-parties.
Master Protocol extends the capabilities of Bitcoin for trading multiple virtual currencies using only the Bitcoin network. Completely trustless. We get complete control over our secret private keys which give access to our Bitcoins and other virtual currencies that Master Protocol enables.
Today our distributed team of developers make available a total of three wallets to use. Today you can test out trading bitcoins for test versions of Mastercoin. The countdown to March 15th begins when real Mastercoins will be able to be traded using these applications. Soon after that more virtual currencies will grow directly on Bitcoin.