Basic Understanding | ADA and Exchanges

[amused.by.crypto]

I was going through ADA docs and videos. It has made an impression on my mind. As per my understanding, after its development, we can convert crypto currencies and fiats seamlessly. Of course, my understanding can be entirely incorrect.

In a long haul, will it replace exchanges? If it provides interoperability, then how does it decide valuation of currency from one chain to other. How does the flow of transaction look like.

[Costy]

Just been looking into Daedalus. Open Source ADA

I havent fully investigated it yet, but wow. over a million tiny tiny files for blocks.
Took me overnight to back them up.
I can see this will be a problem going forward, both for backup times and space requirements.