Today’s daily cryptocurrency news bring the crypto exchange Bitstamp to the spotlight – this time for a new upgrade that was developed by Cinnober, which is a global provider of exchange and clearing technology whose clients are mostly traditional stock and commodity markets.
The TRADExpress Trading System by Cinnober will reportedly replace Bitstamp’s in-house matching engine, as the companies announced on Monday. It will also drastically increase the exchange’s capacity to match orders, which is important in periods of high market activity like the Bitcoin rally last December.
The CTO of Bitstamp, David Osojnik, explained the plans through a representative, stating:
“Our order matching speed is expected to become 1,250 times faster, while throughput will increase by 400 times. The increased throughput will ensure our platform is able to meet any level of demand. Our matching engine was already powerful enough to stay online through the massive rally last winter and this move will ensure trading on our platform remains stable no matter what.”
The speed boost will help Bitstamp develop an institutional trading service, which will further allow the exchange to “to add additional order types and trading pairs without a drop in performance and as well as provide a new direct API endpoint,” as Osojnik added.
Bitstamp was one of the first crypto exchanges to acquire a payment institution license in the EU back in 2016. Founded in 2011, the exchange has branches in London, Luxembourg, Slovenia and the United States. Recently, the exchange sold its majority ownership stake to NXMH, an investment firm owned by the South Korean conglomerate NXC, based in Belgium.
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“The users are in control of the digital assets, which is something that hasn’t happened before. I think that over time players will gravitate toward games where they are more in control.”As per the other Decentraland news, HTC announcing that the altcoin MANA will be their strategic partner, MANA spiked almost two times against the US dollar. For those of you who are asking themselves why these unique crypto assets are part of HTC and Samsung’s plans, the truth is that both smartphone manufacturers believe that their potential exceeds the realm of payments and goes above and beyond the popularized cryptocurrencies in the likes of Ripple, EOS, Litecoin, Stellar and TRON.
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“There are tons of projects that use the liquidity from individual DEX networks, but the liquidity isn’t connected. Our goal is to provide the best price for any token trading pair on the market...it’s pretty much guaranteed with 0x API because we’re just pulling from networks that have the best prices.”For example, while 0x is quite liquid when it comes to popular trading pairs such as DAI and ETH or USDC to DAI, he says that there’s a lack of liquidity on other coins such as Augur that could be more liquid on another network. 0x wants to solve this problem by creating an order that will be split between all DEX networks and returning back the best price there is. With only a few code lines, the 0x developers can now connect to the API and get a quote in the back end so they will be able to execute the transaction at the best prices. Taylor continued:
“We want to be the most liquid decentralized exchange, but we also want to provide developers the best price. If that’s not on 0x native liquidity, we’re happy to give them on Kyber, for example, because that’s a better developer experience. ‘’0x API does not have a bridge with dYdX which is a margin lending exchange that started sourcing liquidity from 0x in 2019. The platform has a closed pool as Matt explained so while the maker that uses 0x API could potentially make an order on the margin trade on dydx, there is not a single possibility on the taker side to fill dydx trades via 0x API.
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