Basically, most cryptocurrency exchanges use their own matching engines to operate buy and sell orders, which facilitates the buying and selling of crypto tokens on exchanges.
FTX’s matching engine has long been the subject of user complaints, mainly due to the high latency and low throughput of the exchange system. Higher latency means slower trade execution and is detrimental to users as their profitable trading positions can be delayed.
Recognizing the above problem, FTX CEO Sam Bankman-Fried posted on his Twitter account that the exchange is planning to roll out various improvements to its matching engine.
According to Bankman-Fried, these improvements will double FTX’s order throughput while reducing latency by 50%. In addition, he also revealed that the upgrade has been in work over the past year and is almost ready to be released on November 21.
In general, this is a necessary move for FTX to further improve the quality of trading products in the position of market-leading exchange, as well as incentive user confidence after freezing under the strain of CPI Volatility in August 2022. The incident prevented users from accessing the exchange’s website and Sam Bankman-Fried himself had to apologize to calm the wave of criticism from the public.
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