It will be easier if you check our whitepaper or watch the youtube video to explain how the validator will work. For simpler explanation, check the video. For more details check the whitepaper. It's between wallet to wallet so we can process orders quickly for users. The problem would be users are required to be online for the exchange to happen so offline trading won't be supported right away and high volume orders might take longer than traditional exchanges during the early stages of development. That's why it's important for us to raise money for liquidity and get partners that are market makers. There are several methods to tackle the problem with offline trading, but it won't be part of our main focus until online trading works well. The problem with offline trading is it won't be fully decentralized(semi) however it is doable. There are also other methods that rely on the Safenetwork that we could do as well that will keep it fully decentralized, but they haven't been developed yet as of this moment and will be worked on during alpha 3.

The wallet for NVO will be open source and the state of the validator will be decided by token holders. We will use money from crowdsale to hold a reserve for bugs bounty and it will scale with the exchange so more money will be added to the reserve as the exchange becomes more profitable. Unlike centralized exchanges all assets are controlled by users even during exchange. Theoretically, if we encounter critical bugs/vulnerabilities, there is a much smaller window for theft in both time and quantity compared to centralized exchanges due to hackers having to target very specific settings which can be prevented as we set up more system of independent checks minimizing the risk of theft from even small incidents. Ultimately, if there are problems it will mostly likely because users don't secure their computers from malware.

Yes we both have experience dealing with exchanges and crypto currencies projects. We have a partnership with coinpayments and are endorsed by the Maidsafe team because they believe in the capacity of this project. If this project is impossible to implement then the first people to realize that would have been the maidsafe team so rest assured this is not impossible and will be done. For Yanni last project, he was working to help to build a centralized exchange called veserus.com which is still in development, so there is experience working from both sides.

It's easy to doubt development for decentralized exchanges and forget that nearly every non-DEX has been hacked and struggle to stay in business for continuous years. These hacks can vary from human errors to third parties vulnerabilities on traditional networks. Non-DEX not only control users assets they control users' info and the market itself. Centralized services form a monopoly on the decentralized economy.

We have endorsement from the Maidsafe team while building this project on the Safenetwork. It takes a few post on the forums to request for help from the community, and issues can be resolved because when it comes to developments there are solutions its just a matter of finding the best one. Along the way we may get hacked and we can't say we won't because any service or website saying that would be lying. We can get hacked, but it's set up so the incidents are minimized even if we do. You can read the whitepaper on the scenarios and how we plan to prevent it. We also have very flexible set up on what technology we can work with to secure the exchange such as a solution to double spend . There will be a rewarding security bounty reserve so people are always encouraged to find vulnerabilitie. Our wallet and plugins system also ensures we are not only building an exchange but a encouraging a shift from centralized services to become more decentralized so that all decentralized services get a bigger market share. Hopefully more people will understand what we are trying to build and realize it's importance.