On November 21, a new version of the FTX crypto exchange will go online, with an upgraded matching engine designed to answer customer concerns about the present one’s speed.
Sam Bankman-Fried (SBF) announced a series of improvements to FTX’s matching engine, including the introduction of a new order matcher, a lower latency API path, and other features. It is expected to launch on November 21, when FTX V2 will also be launched:
To match buy and sell orders, cryptocurrency exchanges, like other asset trading desks, utilize matching engines. This technique is what allows crypto tokens to be bought and sold on exchanges.
Users have long expressed dissatisfaction with FTX’s matching engine. These concerns 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. Higher latency indicates slower trade execution, which can be costly for consumers since profitable trading positions might be lost as a result of high latency.
These enhancements, according to Bankman-Fried, will quadruple FTX’s order throughput while lowering latency by 50%. He claimed that these enhancements have been in the works for most of the year and are nearly ready for deployment on the platform.
Last month, FTX had a shutdown owing to what Bankman-Fried described as web interface-related concerns. The bug blocked customers from accessing the cryptocurrency exchange’s website immediately after the September U.S. consumer price index report went online.
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