Binance, the leading cryptocurrency exchange in terms of trading volume, has successfully undergone its major platform upgrade. Announcing the news on Twitter, the founder and CEO of the exchange Changpeng Zhao (CZ) said that this is the largest-ever platform upgrade they have completed and says that their trading platform is now 10x faster.
The largest upgrade to date for Binance
The crypto exchange notified users about a 2-hour platform upgrade on June 26 and now the upgrade is successfully completed. During the upgrade, the matching engine was switched to a new programming language and the company re-wrote all of the codes as required. According to CZ, this is the largest upgrade for Binance.
He said in the tweet:
“This is the largest upgrade to date. We switched the matching engine to a new programming language (and re-wrote all code from scratch, as required). That’s as big an upgrade as you can get. 2 years in the making, all for faster performance.”
After completing the upgrade, the crypto exchange has once again resumed its operations on the trading platform.
The trading platform is 10x faster now
Binance’s basic purpose behind this upgrade was to make its trading platform operate and perform faster. Now, as the platform has been upgraded, it can work fast and can easily handle 100x volume according to the CEO of the exchange. Changpeng Zhao said in another tweet that their trading platform now works 10x faster.
As per the CZ tweet:
“Probably 10x more, so in theory can handle 100x volume. But when real volumes hit, there will be some other peripheral systems that may temporarily bottleneck, but will be fixed quickly.”
Crypto exchange has received various complaints from users regarding its slow working process in the past saying that Binance needs to fix bugs into the system. To make its system work better, it was crucial for the leading exchange to update its trading platform. Now that the trading operations are resumed, users hopefully will be able to enjoy a good experience.