Cryptocurrency exchanges
A cryptocurrency exchange is a third-party that allows users to convert a cryptocurrency to another type of asset or a different cryptocurrency. These exchanges are mostly used to convert fiat currencies, such as US dollars, to cryptocurrencies or vice versa. Cryptocurrency exchanges are often centralized servers, and they maintain a scalable server to match users' bid and sell requests. They maintain an order-matching engine that records all the bid and sell requests and initiates a trade whenever it matches bid with a sell request. Exchanges charge a small fee for every transaction that gets executed.
One of the drawbacks of cryptocurrency exchanges is that they are a centralized model in the otherwise decentralized ...
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