Circle Highlights New Poloniex Features in the Form of Faster Trading, Deposits and Withdrawals
Poloniex is a majorly popular altcoin with its own crypto exchange, making small ways as it improves the reach it has in the industry.
Now, in an announcement from the company today, Poloniex has just finished an upgrade on the system that helps to increase the overall performance in the functionality of the wallet, the speed of trading activities, and more.
The team for Circle noted that the infrastructure made an immediate change in speed, but there is still plenty more to come. Before the upgrade took place, each withdrawal on the platform could easily take up to 10 minutes to be listed after confirmation from the blockchain.
With the new improvements that the upgrade implemented, these deposits are nearly 5x faster, taking as little as a minute to process deposits and withdrawals, at its fasted pace. The speed will apply to all of the currencies presently traded through the exchange, including BTC, STR, EOS, BCHSV, BCHABC, LTC, ETH, XMR, and USDC.
The speed of posting and executing orders has increased as well, which come from the overall improvement in the latency of the exchange. Before the upgrade, the average latency was about 2500 ms in each order, which has been reduced to one-tenth of that latency with the upgrade.
Furthermore, the reduced latency makes it possible for traders to capture market opportunities, which can help to cancel orders faster if the opportunities shift.
On this big upgrade, Christina Pawlikowski, Director of Product Management at Circle, said that the infrastructure will also help to keep up with the crypto ecosystem, considering the improved reliability. The upgrade brings a lot of benefits with it already, but it also sets up the platform that will allow for additional projects, improvements, features, and support for the performance.
Poloniex was recently acquired by Circle last year.