Coinffeine Demonstrates Distributed P2P Bitcoin Exchange Platform

Spanish cryptocurrency startup Coinffeine has demonstrated a trial version of its new p2p bitcoin exchange platform at an event in Madrid.

AccessTimeIconDec 22, 2014 at 1:01 p.m. UTC
Updated Sep 11, 2021 at 11:24 a.m. UTC
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
Consensus 2023 Logo
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.
CoinDesk - Unknown

Coinffeine CEO Alberto Gómez presents the demo product in Madrid

Spanish cryptocurrency startup Coinffeine has demonstrated a trial version of its upcoming peer-to-peer (p2p) bitcoin exchange platform.

The distributed and open-source exchange will allow users to buy and sell bitcoins anonymously without having to depend on a centralised entity.

describes the protocol as "pioneering" and says it will allow banks and other financial institutions to offer cryptocurrency services with "all legal guarantees".

The application has been “more than a year in the making” the firm says, adding that it has received support from the bitcoin community, as well as the banking and FinTech sectors.

CEO Alberto Gómez, who presented the product at the demo event in Madrid, said Coinffeine is sure the software will make a big impact on the global bitcoin ecosystem.

He added:

"Coinffeine is a technology that serves as a perfect framework where banks can meet the future world of finance brought on by the cryptocurrencies.”

First live demo

CoinDesk - Unknown

Co-founder Sebastian Ortega explains the theoretical and technical basis of the protocol

During the session, Álvaro Polo, co-founder of Coinffeine, executed a purchase of 0.5 BTC via the platform, while Sebastian Ortega (also a co-founder) explained the theoretical and technical basis of the protocol, which is based on 'game theory'.

The exchange protocol uses a distributed contract concept known as a 'micropayment channel'. Deposits provided by the two participating parties are used to ensure fairness and incentivise them to complete the transaction.

Event attendees were presented with codes allowing them to install the trial version of the application. This will allow them to take part in the testing stage prior to the official beta launch, which is slated for early 2015.

Back in May, the company’s chief technology officer and co-founder Ximo Guanter told CoinDesk that the company’s ultimate goal was to create a trustless, truly peer-to-peer exchange platform not unlike file-sharing platform BitTorrent.

Gomez pointed out that the new technology provides banks with an opportunity to enter the cryptocurrency space while avoiding the vulnerability inherent in centralized exchanges.

Just last month, Spanish bank Bankinter made an investment in Coinffeine through its innovation foundation.

Images via Coinffeine


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.