A new version of the FTX crypto exchange will go live on Nov. 21, featuring an improved matching engine aimed at addressing complaints from users about the performance of the current one.
“We’ll be rolling out a whole new order matcher, lower latency API pathways, a whole slew of other features,” FTX CEO Sam Bankman-Fried tweeted today.
Similar to other asset trading desks, cryptocurrency exchanges utilize matching engines to match buy and sell orders. This procedure makes it possible to buy and sell crypto tokens on exchanges.
Users have long voiced displeasure with FTX’s matching engine
These complaints have focused on the platform’s matching engine’s excessive latency and limited throughput. In this case, latency refers to how quickly the matching engine can match user buy and sell orders. Slower transaction execution caused by higher latency can be damaging to users as profitable trading positions may be lost.
According to Bankman-Fried, these upgrades will cut the latency by 50% while doubling the order throughput of FTX. He said that the platform release for these enhancements, which have been under development for the majority of the year, is virtually complete.
Last month, FTX experienced outage because to what Bankman-Fried called web interface-related problems. When the September U.S. consumer price index report went live, a bug blocked customers from accessing the cryptocurrency exchange’s website.
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