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http://dx.doi.org/10.17703/JCCT.2022.8.1.583

Analysis of Distributed Cryptocurrency Exchange Model and Issues  

Lee, Tae-Gyu (Division of ICT Convergence (Smart Contents Major), Pyeongtaek Univ.)
Publication Information
The Journal of the Convergence on Culture Technology / v.8, no.1, 2022 , pp. 583-590 More about this Journal
Abstract
With the release of the Bitcoin source in 2009, cryptocurrencies are continuously developing and expanding the market. Recently, new applicability is expanding centered on NFT coin and metaverse payment service. In particular, the Central Cryptocurrency Exchange actively supports relay transactions between cryptocurrencies or between traditional fiat currencies and cryptocurrencies. The cryptocurrency trading market based on such a central exchange encouraged speculative factors of cryptocurrencies, strongly arousing speculation and futility of cryptocurrencies. In addition, the central cryptocurrency exchange induces the centralization of users and virtual assets, thereby hindering the decentralization and security enhancement strategies of the block chain. Therefore, this study describes the current status and problems of centrally controlled centralized cryptocurrency exchanges in service, and presents a distributed cryptocurrency exchange modeling strategy and major issues as a decentralization model of the exchange. This research can strengthen the anonymity, decentralization, and autonomy of cryptocurrency based on blockchain.
Keywords
Cryptocurrency; Block Chain; Virtual Currency Exchange; Distributed Virtual Currency Exchange;
Citations & Related Records
Times Cited By KSCI : 4  (Citation Analysis)
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