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February 12, 2015, 11:28:08 AM |
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There is a clear need for liquidity and price stability for cryptocurrencies. But the only way to trade coins, besides personal contact, is to go through an exchange website. The problem with exchange websites is that they require us to trust them with our private keys and they charge fees.
What about a decentralized coin exchange?
What if the Bitcoin client could be separated between a core networking client and a wallet plugin? This would allow the core client to accept wallet plugins for any cryptocurrency and provide networking and exchange support for them all. Instead of forking the whole client, altcoin developers would only need to fork the wallet plugins.
This would consolidate all trading into a single market which would not be good news for the private exchanges or the traders who take advantage of price differences between the exchanges but it would stabilize the prices of all currencies which is critical for widespread acceptance, especially among businesses and governments, and that would reduce the need for government regulations.
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