blockchain – How do cryptocurrency exchanges work with so many currencies on the identical time?

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A technique is to put in writing software program for every cryptocurrency as you recommend.
Quite a lot of it will be reusable code as you’ll be able to simply interface through RPC together with your wallets.
One other manner is to make use of a pockets that helps multi currencies after which interface with that pockets.

However lets study what actually is required
depostis

  • these are primarily free as all you want is an deal with that you just management. You’ll be able to both create a listing of addresses prematurely after which use these at any time when a person requests, or you’ll be able to write code that creates these addresses. Now plenty of cryptos use the identical elliptic curve subsequently non-public keys may be reused throughout cryptocurrencies and also you simply create the suitable addresses. Now in fact you dont need your non-public keys on-line, so once more pre-creating lists of deposit addresses is smart

withdrawals

  • right here all it’s a must to do is be capable to compose a legitimate transaction, signal it and put it on the suitable community. This work would be the identical for lots of cryptos.

In the long run i imagine that exchanges do run wallets for every crypto they take care of, it helps with staying updated with the chain, to identify re-orgs, and naturally to interface with that individual cryptocurrency

That is simply conjecture in fact, i’ve by no means constructed a crypto change myself 🙂



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