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Teleport: A New Way to Move and Trade Cryptocurrencies

Copyleft (c) 2015-2018 Teleport Developers

An Exchange for Cryptocurrencies and Fiat

Teleport allows you to trade cryptocurrencies without the need for a centralized exchange. It does this by breaking secrets into many parts and distributing these parts to a large number of miners, who are unlikely to all be colluding.

Transmit Cryptocurrencies in Seconds

You can request a deposit address for a specific cryptocurrency. Nobody knows the private key to the deposit address, but many miners each know a part. If you deposit funds to that address, no one entity will be able to reconstruct the key needed to spend them.

You can then request that they send you the parts of the private key, and then import that private key into your cryptocurrency wallet, or you could transfer the deposit address (i.e. give the right to withdraw the secret parts or to transfer again) to another Teleport address in seconds.

There are no fees for transferring deposit addresses or withdrawing the secret parts of the private keys.

Free Software

The Teleport software is available under the terms of the AGPLv3.

Unstable Version for Testing Purposes Only

This is experimental software and has not yet been fully audited for security vulnerabilities or other problems. No cryptocurrencies of any value should be traded using this software until a security audit has been completed. There is a significant probability that you will lose any coins that you try to trade while the software is still unstable, so use testnet coins or coins with negligible value.

Platform-specific installation instructions

Mac OS

Ubuntu

Install and run User Interface

The User Interface is composed of a vue.js frontend development server that controls the teleport and mining C++ binaries via REST API calls to a python backend server.

To install and run the backend, do:

cd ../UI/backend

and follow the backend instructions.

To install and run the frontend, do:

cd ../frontend

and follow the frontend instructions.

Using the User Interface

You can start mining by clicking on the toggle button in the "Mining" panel. You will need to have mined 10 or more credits before you can request a deposit address.

You can refresh the interface to see how many credits have been mined while it is mining by clicking on the "refresh" button in the "Mining" panel.

To Do:

When you have 10 or more credits, you can request a deposit address for a specific currency. It will take a few blocks before the deposit address you requested becomes available, so it won't be visible on the interface until the number of credits has increased by 2 or 3.

When a deposit address is visible, there will be "Send" and "Withdraw" buttons beside it.

Choosing "Withdraw" will make the private key of this address visible. For currencies such as Bitcoin, Ethereum and so on, this private key can be imported into your cryptocurrency wallet using the "Import Private Key" feature. Any funds which have been sent to the address will then be available for spending in your wallet.

By choosing "Send", you can transfer ownership of the deposit address to another Teleport user identified by a teleport address.

An instructive exercise is to send a Bitcoin (BTC) deposit address to a teleport (TCR) deposit address. That is, request a BTC deposit address, and also request a TCR deposit address. When you have both, Send the BTC deposit address to the TCR deposit address.

The BTC deposit address should disappear. However, when you Withdraw the TCR deposit address, the BTC deposit address will reappear. This is because, when you withdraw the TCR deposit address, you acquire the private key of the address to which the BTC was sent, and you therefore become the owner of the BTC deposit address (again).

Trading

Trading has not yet been implemented.

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