| Biography: |
Peer-to-peer P2P computing or networking is a distributed application architecture that partitions tasks or workloads between peers. Peers are equally privileged, equipotent participants in the network. This forms a peer-to-peer network of nodes. On 5th Feb 2021, the Central Bank of Nigeria banned the exchange of cryptocurrency and decreed financial institutions to close all accounts that trace to holding and trading in cryptocurrency. This phenomenon shook traders and investors who have heavily invested in cryptocurrencies. But P2P exchanges like Remitano, Binance, BuyCoins, LocalBitcoin, and more were there to their rescue. Richard Mico, chief legal officer of global on- and off-ramp crypto platform Banxa, told Cointelegraph that the breakdown of relationships between the co-founders resulting in litigation could be one of many reasons behind the downfall of Paxful. He added that the ever-evolving regulatory scrutiny in the U.S. had made it difficult for the decentralized crypto platforms and P2P exchanges to thrive: |
