Bitcoin Exchanges
B y Othman Darwish Nowadays Bitcoin has proven a great success as a virtual currency. With its innovated payment network protocols, as open and trustless environment, that is protected by cryptography, users of Bitcoin enjoy transacting and executing their payments in highly secure, fast and with less fees compared to traditional payment systems. The decentralize nature of the Bitcoin payment network, where there is no need for intermediaries or third parties, plays an important role in its success, in fact this shapes the innovation that the Bitcoin payment network is all about, and makes it competing alternative with the traditional currency. Yet, when it comes to Bitcoin Exchanges markets, where the user could buy or sell Bitcoins with other currencies like USD, EURO or AltCoin, the exchange has a single point of failure since it acts as intermediary between buyer and seller, and thus the trustless decentralized core feature of Bitcoin payment network is vanished...