Building a cryptocurrency exchange from scratch involves several crucial steps to ensure functionality, security, and scalability. You must first decide on the type of exchange you want to create, such as centralized (CEX), decentralized (DEX), or peer-to-peer (P2P), as each has different implications for liquidity, security, and user experience https://merehead.com/blog/build-a-crypto-exchange-from-scratch/. Once the type is selected, designing key features like transaction mechanisms, asset management, and integration of trading tools like spot and margin trading becomes essential. Additionally, choosing robust security protocols, such as two-factor authentication and encryption for transactions, is necessary to protect users' assets and build trust in the platform.
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Thank you so much for recommending the article "How to Build a Cryptocurrency Exchange from Scratch" on Merehead! It's really valuable and detailed material that helped me understand the development process in more depth.
Previously, I only had a general idea of how crypto exchanges work, but now I understand what technologies to use, how to implement transaction security, blockchain integration, and liquidity. I found the section on legal aspects and licensing especially useful - without this, the exchange cannot operate legally.
Thanks to your advice, I now have a clear plan of action and know what steps to take to successfully launch. Thanks again!