0

I'm still trying to figure out how the multigateway exchange works for nxt. i see you can put your bitcoins and other altcoins into the system and trade on top of the asset exchange using the nxt wallet creating a decentralized exchange. my concerns are:

  • Do my bitcoins / altcoins goto a centralized wallet like how typical exchanges work today?

  • Who controls the coin wallets and what if they need to be rebooted?

  • What prevents the multigateway admins from running away with our coins?

  • What are some major advantages to over typical exchanges today like cryptsy / poloniex / bter?

Improve this question

1 Answer 1

Reset to default
1

The main advantage of the MGW exchange over traditional exchanges is that for protocols which support multisig, all funds are stored under 2/3 multisig accounts on 3 geographically separate servers, most likely, owned by different entities.

Improve this answer

Your Answer

By clicking “Post Your Answer”, you agree to our terms of service and acknowledge that you have read and understand our privacy policy and code of conduct.

Not the answer you're looking for? Browse other questions tagged or ask your own question.