BitMEX one of the leading cryptocurrency exchange has recently released a report on the platform’s scaling initiatives as well as the complexities it is facing in handling increased trade orders in recent time. BitMex has been registering trading orders worth $11 billion every week, seeing a massive 10X increase in the orders.
The report was shared by the company from its official Twitter handle which notes,
“BitMEX Technology Scaling. Take a read how our engineering team is working to handle the immense trading volumes going through BitMEX and the challenges that we face ahead as we continue to scale.”
The company says its trading engine functionality is quite different from other exchanges, as well as traditional finance, and this helps in providing exceptionally accurate trading. The post also highlighted the significant increase in the trading orders received by BitMEX in 2019.
The report suggests that the increase of trading volumes by 10 folds is a direct result of company’s efforts towards optimizing “order cancellation, amend, and placement actions in the trading engine, reworking internal data-structures, algorithms and audit checks to tune specifically for the kind of speed kdb+ can offer.”
The report also mentions the System Overload as a purposeful feature that helps the exchange avoid queue delays and execution time by minutes. Now the firm is focused on building a trading engine that would optimize the network to be more efficient in handling the smallest of trades. The focus is on building a robust architecture to dramatically increase the capacity of the whole network.
The report explains,
“Not a single satoshi goes missing, or the system shuts down! Additionally, our engineers have identified several key areas where optimisations can safely be made and are working tirelessly to deliver a new, robust architecture to dramatically increase the capacity of the platform.”
With the bearish market almost over, the exchanges are set to see a massive increase in trading demands given the popularity of the cryptocurrencies have soared in recent times, despite the longest crypto winter.