To implement automated deposits/withdrawals of a single currency for a business there has to be a lot of code in place specific for that currency. For example if I want to automate sending and receiving Bitcoin – I would write an application around bitcoin’s software – bitcoin core. Obviously, there won’t be similar node software for every coin, say Ethereum, would have a different core, if it even has one (it’s an example). Would you need to write a new app that would adapt for that core? Then does it mean that big exchanges write new software that does the same job but for each coin? Where did I go wrong here, or is cryptocurrency development really this complex?
You might be interested in …
Ripple (XRP) Clings To Support As Bearish Divergence Plays Out; Will $0.44 Hold?
XRP’s price struggles to hold above key support as the price needs to hold above $0.44 to maintain its bullish run. XRP continues to struggle as bearish divergence appears on the daily timeframe suggesting a […]
Bitcoin vs Ethereum: Community split between capped supply and deflationary model
Bitcoin proponents argued that Ether’s monetary policy has changed at least seven times while BTC has seen zero changes. Bitcoin (BTC) and Ether (ETH), the top two cryptocurrencies by market capitalization have always been pitted […]
SEC Commissioner: The Regulatory Agency Should ‘Stop Denying’ Spot Bitcoin ETFs
SEC Commissioner Hester Peirce published comments challenging the regulatory agency’s position on spot Bitcoin ETFs. Peirce explains the refusal of the SEC to approve spot products is “puzzling,” and explains the growth of bitcoin as […]