Mostro, a bitcoin exchange, emerges as a P2P alternative, focusing on user privacy. It uses the decentralised node network Nostr and Bitcoin's Lightning network, giving it the quality of being "uncensorable" by not relying on a single point of failure. The platform operates through a process where a seller creates an order, and a buyer takes it, facilitating the exchange of bitcoin for local currency.
The project, still in development, offers two versions: a user-friendly web version for non-specialized users and a terminal requiring specific commands. Mostro has a limit of 20,000 satoshis per transaction and aims to expand with web and desktop versions in the future.
Mostro's focus goes beyond simple cryptocurrency exchange; it presents itself as a peaceful response to authoritarian governments. @negrunch, a developer of Mostro, emphasises that the platform can be a valuable tool for people in countries with oppressive governments, providing secure and private transactions. The utility of Mostro is highlighted in situations where financial privacy is crucial, such as in countries with authoritarian regimes or where citizens are identified as opponents.
Mostro's operation is based on Lightning network nodes that route payments through generated invoices, and these nodes, called "Mostros," are run by users who receive commissions for their services. The reputation of these nodes is crucial, as users can rate them, incentivising their participation in the platform's payment processing.
Francisco Calderón, also the creator of the successful Telegram bot, lnp2pbot, highlights the importance of privacy in financial transactions, especially in authoritarian environments. Mostro emerges as an alternative to lnp2pbot, using the decentralised infrastructure of Nostr to avoid potential censorship.
Regarding the future, Mostro aims to grow organically, attracting users through testing, bug correction, and expanding the node network. The decentralised approach allows nodes to compete for commissions, promoting participation without the need to create large companies. The platform presents itself as a free and resilient tool, capable of operating effectively in various contexts, from situations of authoritarianism to privacy issues in developed countries.
If you want to try the web client, you can do it here