FTX Rolling Out V2 Exchange With New Matching Engine In November
Table of contents
"We'll be rolling out a whole new order matcher, lower latency API pathways, a slew of other features," FTX CEO Sam Bankman-Fried tweeted today.
FTX's New Matching Engine
As other asset trading desks do, crypto exchanges employ matching engines to match buy and sell orders. This procedure makes it easier to buy and sell cryptocurrency tokens on exchanges.
Users have long voiced displeasure with FTX's matching engine. These criticisms centered on the platform's matching engine's slow throughput and significant latency. Latency in the context refers to how fast the matching engine can match consumers' buy and sell orders. Higher latency indicates slower trade execution which can be bad for users as profitable trading positions can be lost owing to excessive latency.
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 most of the year, is virtually complete.
Last month, FTX experienced an outage because of 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.