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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?

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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.

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