Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency discussions => Topic started by: Delgboke on March 16, 2021, 10:11:21 PM
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I really want more about cryptocurrency exchange development on the time frame which the development be ready or be fully developed for general trading , deposit and withdrawal.what i really is how many months or years for full cryptocurrency exchange to be ready for trading cryptocurrency and fiat?
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The development of cryptocurrency exchanges will depend on how seriously the team manages and also develop the exchanges. sometimes, they will conduct certain beta testing in order to measure how good the performance before launching. There may be also some mainnet
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Anybody can be using open-source template for a cryptocurrency exchange and then what should be done is customization. I don't think it can be taking a lot of time but if you are looking to be a game-changer - meaning offering features not yet found in many other players then maybe that can be taking some months and of course money to develop. Right now, this business is already crowded and because of its potential to be making huge returns on money invested there will be more and more new exchange platforms opening their doors to the market, vying for people's attention and trust.
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I know the DEX exchange that has been in development for several years and has not yet launched. After launch, a promising crypto exchange can develop indefinitely, because the crypto space is also in constant change and development.
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It depends on which team has gathered, if they are really experienced and strong, then they can bring their exchange very quickly to the top, if the team is weak, then I can develop for years.
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It depends on how many developers are working to make it work and how much skill they have and also on the scale of the projects. It needs a long time to make a exchange and test and run it perfectly. They need to find bugs.
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That depends on several things. First be clear about the scope you want the exchange to have, then look for a team of highly qualified professionals, programmers, security experts, marketing experts... Then the work begins, tests are done, firewalls are programmed, and an internal test version is launched, after all that, security audits, DDOS attack tests, server overload tests, measures to avoid code injection... And everything is retested, until everything is safe and stable. But make no mistake, it can take years depending on the number of team members and especially the initial budget.
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If only imitating the existing stock exchange, I don't think it will take too long as long as the budget records are met and the team from the project is serious. But what will keep it old are new ideas and innovations.
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The cryptocurrency exchange must constantly evolve, be updated, carry out various investment events. Only in this way will we be interested in an exchange keeping up with new technologies.
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There are alot of factors to consider before one can appropriately come up with a time frame to when the exchange can be fully ready for both trading, deposit and withdrawal services, one of those factors is the number of developers working on the exchange development, and another is how serious they are with the exchange development and whether funds are readily available incase one or two things needs to be acquired, so ones this few things plus a few others are fully determined, then one can easily come up with an accurate time Frame to how long before the exchange will be ready for trading, deposit and withdrawal activities.
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It will take years for sure this is not like school project that they will publish it in a short time.. this is serious project because there is money involve here so they must developed carefully so that they could not face multiple bugs in their crypto exchange.
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The team from the exchange project has already set their target, no one knows when the platform is ready to launch and they will see all possible attacks that will occur in the future.
Several projects currently provide the opportunity for users to perform a Tesnet, this is done to test for stuck transactions on the network and see a small number of errors to fix.
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The development of cryptocurrency depends on that team. If that team is very skilled or experienced. Then you will get it in exchange very quickly. But there are some teams who are incompetent or inexperienced. They are often seen taking months or years to get exchanged.
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@Bony11 no matter how much experience and good professionals a team has, there will always be challenges to face. To start with the security concerns, the biggest weak point of any exchange. The methods of attack used by hackers evolve day by day, so security must be a daily constant, so a team of professionals will have to continue learning new defense methods every day and without rest.
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Now there are a lot of exchanges that no one uses. This is due to the fact that people prefer verified exchanges. Why would I trade on an unknown exchange if there is the same binance? In addition, it is very easy to make a new exchange if you understand the device. They are made according to open templates. The main thing in the exchange is to advertise it.
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Now there are many templates for exchanges. The main problem is to ensure maximum security, as well as troubleshooting critical errors in the user interface.
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So long as it has passed all necessary tests and conditions to be a good exchange and to fit and safe for crypto users. Building an exchange might not be one easy things as it being said. We can view it as one of the biggest projects in crypto sphere that needs a knowledgeable and experienced team behind it and a proper financial support