Efficiency updates to FTX announced by Sam Bankman-Fried 

• The crypto derivatives platform is expected double its order throughput
• The update will significantly reduce order latency – CEO
• Partnership with Visa would allow FTX users to pay for goods and services with cryptocurrency

In a series of tweets, FTX CEO Sam Bankman-Fried stated that the exchange is planning to implement a number of enhancements to its matching engine over the course of the following month.

The exchange will launch a new order matcher, lower latency API, and a whole slew of other features, as stated by the CEO, which has been in the works for nearly a year. 

Fried claims the update will increase transactional speed on the platform 

He stated that the platform is anticipated to halve the order of latency and double the order of throughput. Trade orders will be processed faster if the order of throughput is doubled, and the order of latency will be cut in half if the time between placing an order and carrying out the transaction is cut in half. 

This could be advantageous for traders because it will effectively speed up transactions on the platform and increase the likelihood of placing orders at the displayed price before it changes.

The exchange’s CEO stated that major updates would be released on November 21 and that some of these features would be released over the course of the following month. 

He also urged API traders to stay in touch over the next month because the exchange plans to demonstrate a few of its upcoming new features.

On Crypto Twitter, the CEO’s announcement was received with mixed feelings due to the apparent indifference of many community members to his proposed updates.PliBMind, a user, requested that the platform enhance its user interface.

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 FTX has also partnered with payment goliath Visa 

Other crypto community members focused more on FTX’s $1.4 billion acquisition of Voyager Digital’s assets. Russells, a Twitter user, stated that while he does not mean any disrespect, he sincerely hopes that enough Voyagers reject the auction deal. As a voyager shareholder and as a client in crypto, none of this is in our best interest.

In addition to being one of the largest exchanges for crypto derivatives, FTX has made significant progress in the conventional payments sector. On October 7 FTX and Visa, the world’s largest payment processor, formed a partnership to launch debit cards in forty nations. 

Users of FTX would be able to use debit cards with zero fees to pay for goods and services with cryptocurrency thanks to the partnership.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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