Potentially stupid market structure question of the day: are 100% of Coinbase crypto trades executed on-chain? Is it possible for trades to happen off-chain?
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Replying to @HideNotSlide
What
@jgreco said. No exchange does on-chain trades, it would be too slow and too expensive. Wallet transfers between exchanges are on chain, clob trades and transfers between wallets in the same exchange are db updates.3 replies 0 retweets 26 likes -
In general you don’t even have your own wallet at the exchange, you just have a db entry that says what the exchange owes you. The exchange has a private wallet (in fact several) to hold client crypto assets, and they generate unique public keys for users to deposit to it.
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