The last major upgrade of the cryptocurrency exchange Binance has now been two years ago. Accordingly, on 28 June it was time for a major upgrade for the market-leading trading platform. Now the platform is to run around 10 times faster.
Preparation for the next Bitcoin hype
In the past, there have always been minor failures on the popular trading platform. Therefore the operators of the crypto exchange decided to rewrite the underlying programming code. The operators completely changed the programming language for the matching engines for the trades. As a result, the platform should now run much faster and be optimally equipped for the next Bitcoin hype.
On June 28, the CEO of Binance, Changpeng Zhao, twittered details about the upgrade: „This is the biggest upgrade to date. We’ve changed the matching engine to a new programming language (and if necessary rewrote all the code from scratch). This is the biggest upgrade you can get. 2 years in development, all for faster performance. Ready for the next wave… #BUIDL.“
Binance as crypto all-rounder
Speaking to the online magazine Cointelegraph, CEO CZ explained: „In theory, we can now handle 100 times the trading volume. In practice, however, there will probably be bottlenecks that will keep the actual volume smaller for the time being, but we will work to remove these obstacles“.
So Binance is working hard to expand the structures for an even larger audience. The company is also dedicated to expanding its monopoly position in the crypto market. In terms of the size of the trading platform, Bianance has already won here. In the past, Binance has invested in the acquisition of the analysis website Coinmarketcap.com. It is therefore not surprising that the crypto market is looking to expand into other areas as well.