The renowned crypto exchange, Bitstamp is partnering with the tech company Cinnober to develop a new matching engine for their trading platform. Cinnober specializes in providing clearing and exchange devices and technology. Furthermore, Cinnober only deals with stock markets and commodity exchange markets globally.
Bitstamp is a cryptocurrency exchange in Luxembourg. Furthermore, it allows exchange between the United States Dollar (USD) and the renowned Bitcoin (BTC) cryptocurrency. Moreover, it allows United States Dollar (USD), Euro (EUR), Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Ripple (XRP) or Bitcoin Cash (BCH) deposits and withdrawals.
More about the Matching Engine technology
For their matching engine, Bitstamp had a natively built engine in place. But, this Monday the company announced the replacement of the matching engine with Cinnober’s engine. Furthermore, built for traditional stock market clients, Cinnober’s TRADExpress Trading System will replace Bitstamp’s native matching engine.
David Osojnik, the Chief Technical Officer at the crypto exchange stated this. “Our order matching speed is going to become 1,250 times faster, while throughput will increase by 400 times. The increased throughput will ensure our platform is able to meet any level of demand. Our matching engine was already powerful enough to stay online through the massive rally last winter and this move will ensure trading on our platform remains stable no matter what.”
The new system will help the crypto exchange match orders even faster than their in-house engine. This is extremely helpful at times of high surges, and increased market activity. The December of last year can be described as one of those times the engine could prove to extremely helpful.
Furthermore, this increase in the speed would help build the crypto exchange better industry-grade trade services. Moreover, this would help the crypto exchange “to add additional order types and trading pairs without a drop in performance and as well as provide a new direct API endpoint”.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.