While using a public blockchain network, many cryptocurrency exchanges lose their own traders to their rivals and in the case of a separate blockchain, they can hold their traders tighter.
Well, I have some other convincing answers to this question.
Brand recognition
A notable recognition is created around the people. By building a separate blockchain any Crypto Exchange can create its own native coin or token, which will definitely bring Brand identification.
Builds Traders Trust
Traders' trust rate for your exchange will increase with your own blockchain so that your exchange would get more user engagement.
Privacy level Fixation
As you have your own blockchain, it allows you to choose the privacy level of transactions
Enhances Market Share
The Market Share value will significantly increase because of your own blockchain
Faster Transaction
Everything is automated from trade matching to payment verification, thus fast transactions occur.
Flexibility
Your own blockchain lets traders trade in it more flexibly.
Efficiency
By developing its own blockchain, the exchange can position itself in the market and the efficiency is significantly improved.
Cost Reduction
Smart Contract automates every process, there is no need for any additional services thus it is a kind of cost-cutter.
Final Thoughts
If you want to know more details about cryptocurrency exchanges need a separate blockchain? Explore this >> Why Cryptocurrency Exchanges Need a Separate blockchain? Or you can contact any cryptocurrency exchange development company like Bitdeal. They Provide clear details about the crypto exchange, and also they provide cryptocurrency exchange script, if you needed you can purchase them.
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