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Title: Crypto Exchange Post by: EmmaTalks on December 27, 2019, 06:25:43 AM Security is the main concern about crypto exchanges a lot, but what about high speed? Transferring money from one wallet to another? If trading of crypto currency is being carried, the speed will be low when at one time many people are using the exchange, then how do exchanges prevent that from happening?
Title: Re: Crypto Exchange Post by: mk4 on December 27, 2019, 06:37:10 AM I'm going to assume when you meant speed of transferring money from one wallet to another, you're specifically talking about the network transaction fees. While we can't use this as of now(as far as I know), Blockstream is working on "Liquid", as a solution for faster transfers from exchange <-> exchange <-> wallets.
Take a look at it here: https://blockstream.com/liquid/ EDIT: and oh, I almost forgot, Bitfinex now supports Lightning. Hopefully other exchanges would follow. https://www.bitfinex.com/posts/440 Title: Re: Crypto Exchange Post by: TheUltraElite on December 27, 2019, 07:01:08 AM Security is the main concern about crypto exchanges a lot, but what about high speed? How about we see more securrity for the traders instead of forcing KYC down their throat than high speed? Low latency trades happening on stock markets is nowhere near the crypto markets. This is not something that is worth concern now. The bigger problem is governments imposing money laundering on crypto users and exchanges going out of business or just turning exit scam.Quote Transferring money from one wallet to another? If trading of crypto currency is being carried, the speed will be low when at one time many people are using the exchange, then how do exchanges prevent that from happening? Are we not getting into that mining fee debate again? Its done to keep the network secure. Its a payoff between high speed transaction needing a higher fee and vice verse. But that is actually not relevant because it is intrinsic part of the network to keep the network secure and the use of bitcoin for trading is a secondary market that has developed due to the popularity of its use and price changes.Title: Re: Crypto Exchange Post by: adzino on December 27, 2019, 07:23:51 AM Security is the main concern about crypto exchanges a lot, but what about high speed? Transferring money from one wallet to another? If trading of crypto currency is being carried, the speed will be low when at one time many people are using the exchange, then how do exchanges prevent that from happening? Not sure what do you mean by high speed? Are you talking about withdrawal speed when you say transferring coins (not money like you are saying) from one wallet to another? Then yeah, some exchanges make withdrawals in batches. Probably goes through some security protocols before allowing the withdrawal to happen. The confirmation depends totally on the network. They can't prevent this. If they want to make it faster, they will have comprise a little bit on the security side.Title: Re: Crypto Exchange Post by: Reid on December 27, 2019, 07:25:37 AM You are going to pay more in dynamic mode.
The slow transaction is because you are choosing the pool method which mostly exchanges does. Collecting the transaction from different traders and at the same time sending it at once with a cheaper fee. But I do think they have options by now since others want it faster. It is like the VIP of sending method. ;D |