If trader selling NEX for BTC after order is done on matching engine and both of coin have to transfer on-chain ,ok the guy who buying NEX will get it in like 1-2 minute and can use this nex to trade with another coin or withdraw in a few minute, But… What about the guy who sell it’s for BTC … Is he need to wait BTC to transfers on-chain (for BTC it take like 2 hours) untill he can use his BTC to trade with another coin or withdraw? if not How? NEX have to provide temporary BTC for him? and get it back later when transaction is completed ?
Trading bitcoin won’t/can’t be decentralized so would just be like the way it works on CEXs right now. Once BTC is deposited on Nex, the exchange will control it until you decide to withdraw
Exactly , but here the exchange is also decentralized where the nodes be validating the orders, initially it will be managed by nex team slowly they will increase nodes and make it decentralized. So it can’t be hacked.
You are asking our secret sauce ! We are not ready to share how we do that, but no @CryptoUK1 is not like a CEX at all. After we launch and are running we will build explainers for how some parts of the system works. Important thing is that anyone should be able to run our bot (or build their own using the spec) and verify that everything is working as it should.