blockchain – How do cryptocurrency exchanges work with so many currencies on the identical time?

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A method is to write down software program for every cryptocurrency as you recommend.
A number of it could be reusable code as you possibly can simply interface through RPC together with your wallets.
One other approach is to make use of a pockets that helps multi currencies after which interface with that pockets.

However lets look at what actually is required
depostis

  • these are primarily free as all you want is an tackle that you just management. You may both create a listing of addresses prematurely after which use these every time a person requests, or you possibly can write code that creates these addresses. Now lots of cryptos use the identical elliptic curve due to this fact personal keys will be reused throughout cryptocurrencies and also you simply create the suitable addresses. Now after all you dont need your personal keys on-line, so once more pre-creating lists of deposit addresses is smart

withdrawals

  • right here all you must do is be capable of compose a sound transaction, signal it and put it on the suitable community. This work would be the identical for lots of cryptos.

In the long run i consider that exchanges do run wallets for every crypto they take care of, it helps with staying updated with the chain, to identify re-orgs, and naturally to interface with that exact cryptocurrency

That is simply conjecture after all, i’ve by no means constructed a crypto alternate myself 🙂



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