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

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A technique is to write down software program for every cryptocurrency as you recommend.
Plenty of it could be reusable code as you may simply interface by way of RPC along with your wallets.
One other means 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 handle that you simply management. You possibly can both create a listing of addresses prematurely after which use these every time a consumer requests, or you may write code that creates these addresses. Now a number of cryptos use the identical elliptic curve subsequently personal keys might be reused throughout cryptocurrencies and also you simply create the suitable addresses. Now in fact you dont need your personal keys on-line, so once more pre-creating lists of deposit addresses is smart

withdrawals

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

In the long run i consider 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 alternate myself 🙂

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