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One gateway is not needed to initiate a complete transaction, multiple gateways can be used, forming a chain of trust rippling across the users. Holding balances with a gateway exposes the user to counterparty risk which is also a risk that is apparent in the traditional banking system. If the gateway does not honor its IOU or liability, the user could lose the value of his money held at that gateway. Users that don’t trust a gateway, can, therefore, transact with a trusted gateway that in turn deals with the 'untrusted' gateway. This way the IOU will be with the trusted or creditworthy-certified gateway. Counterparty risk does not apply to bitcoins and most other altcoins since a user’s bitcoin is not another user’s IOU or liability, https://www.fashionhunters.ch/community/profile/binance41372243/. One of the top crypto news sites that can help traders understand the complexities of cryptocurrency and blockchain technology is DailyCoin. 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