Binance Completes Largest Upgrade Since Its Launch; Matching Engine Speed Increased by 10X

Binance, the leading crypto exchange in volume, has completed its most significant upgrade since the platform launched back in 2017. The new upgrade will allegedly boost its transactional capacity by ten times and had been in the works for around two years. With speculations of a possible bull-run, could Binance be preparing for the next crypto market craze? Well, that depends on how trends will tilt and whether the upgrade indeed solves Binance's underlying issues.

This milestone was first announced on June 28 by Binance CEO and founder, Zhao, who is popularly known as ‘CZ' within the crypto space. He noted that the team had made significant changes on the fundamental programming language running Binance's matching engine,

Earlier in the week, the Malta-based crypto exchange had informed its users of the scheduled upgrade on June 28. Consequently, the platform's trading services were not available yesterday morning as the team integrated the upgrade. The firm had initially set a target period of 2 hours but ended up taking longer than anticipated. However, the update was still completed within yesterday, and Binance announced trading resumption from 5:30 AM UTC.

As Binance scaled its crypto services to include futures, options, margin trading, and lending cryptocurrencies, the platform's transactional capacity took a hit. Calls by its trading community for suitable upgrades have since been on top of the list. With the new upgrade in place, Binance stakeholders led by CZ are optimistic that network congestion will be an issue of the past. Also, the exchange's growth prospects might have just skyrocketed should the upgrade accommodate more users compared to the 1.4 million orders/second during the platform's rollout.

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Edwin Munyui
Edwin Munyui
Edwin is a FinTech enthusiast with a particular interest in blockchain technology and cryptocurrencies. He has worked as an author in the blockchain space since 2017 and enjoys creating content that both crypto veterans and newbies can understand. His simple writing style and financial market knowledge have made him a reputable fundamental and technical analyst with the ability to handle any topic around blockchain and crypto over the years.

[Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

[Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

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