Monday, June 27, 2011

Gavin Andresen Closes ClearCoin Escrow Service

Gavin Andresen, the current Bitcoin project maintainer, has made an executive decision to close his escrow service for Bitcoin traders, ClearCoin. Existing contracts and transactions will be upheld, but nothing new can be entered into the system. He states his reasons for shutting down the website being those of time duress and possibly a hint of perfectionism, below is the official statement he left on the Bitcoin forums:

I've been struggling recently to keep ClearCoin moving forward while I also try to keep core bitcoin on track, and with all the demands on my time I can't spend the time on ClearCoin to make it a project that I'm really proud of.

Closing ClearCoin to focus on the core Bitcoin project is something I'm sure Bitcoin users are happy to accept, as I'm sure there are going to be a plethora of web application developers jumping to fill the hole that is going to be left; however what remains to be seen is how they can establish a trust with the Bitcoin community better and/or faster than Gavin Andresen, Bitcoin project lead.

(Side Note: Last week, ClearCoin was identified vulnerable to cross-site request forgery attacks, issues which Gavin promptly resolved.)

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