December 2019
Intermediate to advanced
336 pages
9h 21m
English
Content preview from Building Blockchain Apps
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24. Cryptocurrency Exchanges
By Ash SeungHwan Han
A key component in the cryptocurrency ecosystem is the exchange. When I say that the Bitcoin in my account is worth $10,000 U.S. dollar (USD), it means that I can exchange it for $10,000 USD right now and take the USD to a bank. Cryptocurrencies (tokens) can have values and liquidity only when they are actively traded. As discussed in previous chapters, crypto tokens can only be part of the blockchain incentive design to facilitate network effects when they have established and well-accepted value among the community members. In this chapter, we explore the services offered by today’s cryptocurrency exchanges. I will discuss different types of exchanges and their roles in the ecosystem.
Exchange ...
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