Bitstamp Set to Increase its Matching System by 1,250x.
Bitstamp which was in the news recently for getting acquired by a South Korean media conglomerate, NXC Corp, has made it known in a recent report that it will be increasing its platform’s matching system by 1,250x. This has been described as an effort by the exchange to revamp its platform and attracts new traders. Bitstamp also plans to increase its throughput by 400x.
Bitstamp has Partnered with Cinnober
A report has made it known that Bitstamp has partnered with Cinnober, a company that delivers exchange and real-time clearing technology to market operators, clearing houses, banks, and brokers, towards achieving its aim. The exchange has announced that it will be replacing its own technology with TRADExpress, a software stack developed by Cinnober.
The exchange made this known through a blog post on its official page. The blog post stated:
“This is a crucial step on our mission to bridge the gap between crypto and traditional finance and will push the technological frontier in crypto trading a step further. We chose Cinnober because of their proven track-record in worldwide financial marketplaces, their understanding of our vision and ability to work closely with us to customize the technology to meet our needs.”
Bitstamp is the 33rd Most Used Exchange
In terms of trading volume, it has been reported that Bitstamp is doing quite well for itself. The exchange manages to average a 24 hours trading volume of about $50 million. This places the exchange as the 33rd most used exchange.
Although its number seems to be low compared to other top ranking exchanges. The exchange is popular for only listing top ranking crypto pairs.
All indications are pointing towards one thing, ” the exchange is trying to increase its market shares.”
The can be inferred from this comment here:
“The new matching engine will be implemented in a few phases, with the first changes taking place in Q1 of 2019 and full implementation expected by the end of Q2. It will allow us to meet any amount of demand and provide a number of additional services without a drop in performance.”