AirSwap, decentralized cryptocurrency exchange based on Ethereum, on the first day of its activity has processed transactions of more than $1 000 000, writes portal

AirSwap is a virtual decentralized currency market where participants can maintain full anonymity. Users find each other by posting what they want to trade on the Bulletin boards on the website AirSwap by negotiating smart contracts on the Ethereum blockchain.

“AirSwap has no control over and never touches the user. AirSwap works just like a platform allowing users to exchange tokens with smart contracts. A Central exchange or Clearinghouse is not” — says co-founder Michael Obed.

A decentralized approach also allows him to avoid regulatory reprisals from regulators in different countries. One striking example is China, which is hopelessly closes cryptocurrency exchange within its borders that, according to Michael oved, can’t happen with AirSwap.

“It is impossible to close. You don’t even need an account. People don’t even know that the Chinese merchants are in the system,” he says.