The Global Impact of Blockchain
In ten short years, blockchain and alternative cryptocurrencies have ushered in a new era of competition and innovation across countless industries. Thanks to built-in protocols that provide transparency, privacy, security, efficiency, and protection from fraud, we’ve seen hundreds of blockchain projects – in everything from healthcare and finance to entertainment and governance – quantifiably improving the way things are done in each industry.
The Importance of Exchanges
Beyond blockchain technology itself, however, it’s important to understand how the wider cryptocurrency ecosystem operates. What actually bridges the gap between blockchain projects and the people who actually benefit from the goods and services they provide are the crypto tokens that drive most of these projects. Crypto exchanges around the world handle several billions worth of trades every day; this attests to the importance of exchanges in facilitating the growth and viability of crypto tokens and blockchain projects as a whole.
In fact, the exchange space has been so instrumental in the growth and development of cryptocurrencies as a means of exchange and a transfer of value that we now have more than 500 exchanges in operation all over the world, with over 2,000 different alternative currencies listed.
Challenges
While having many options from which to choose can be a good thing, it can sometimes be detrimental to user experiences and the quality of services provided. Consider the following: Many exchanges focus on specific geographic areas and do not provide services to people on a global scale. Some have strict KYC policies, others do not. Some provide only exchange services, portfolio management or arbitrage options, and others have limited coin pairs that can be traded. Finally, anyone who wants to use multiple services not available on any single platform has to create multiple accounts with different logins and passwords and access each exc...
This article appeared first on Cryptovest
