Japan-based bitcoin and cryptocurrency exchange company bitbank, announced today a marked improvement of the performance of its new trading matching engine. The modifications enable users to execute orders with higher stability and speed.
The company has now completed updating the exchange’s matching engine. The update succeeded in improving the matching engine’s throughput, limiting the order response time to a mere 1.7 milliseconds (ms). The API response performance has also improved drastically with modifications to the system architecture. In addition, API limits that were previously partially restricted have been relaxed. The system is also now compatible with Websocket APIs.
Details on bitbank’s new matching engine:
Increased processing performance
Order response time down to 1.7 ms
By limiting order response time to just 1.7 ms, bitbank can now adapt to sudden market changes and surges in orders, increasing the ability to manage orders with stability.
| Processing capability | After update |
|---|---|
| Order response time | 1.7 ms |
| Orders per day | 50.83 million |
The order response time represents the time from when the user sends an order, until when the matching engine returns that the order is accepted.
Improvements in the Trade API’s response time
With changes to the system’s architecture, the response time of the private API has improved considerably. In particular, the response time for the “Create new order” API and “Return asset” API has decreased by 53% and 29% respectively, enabling more immediate transactions (data based on a 7 day measurement period, pre/post the update).
| Before update | After update | |
|---|---|---|
| Response time for the “Create new order” API | 188.88 ms | 88.05 ms |
| Response time for the “Return asset” API | 67.36 ms | 47.75 ms |
Higher probability of execution
The update has allowed the execution rate to increase by approximately 38% on average (data based on a 60 day measurement period, pre/post the update). As throughput has improved, so has the platform’s ability to deliver more accurate executions.
| Execution rate | Before update | After update |
|---|---|---|
| Average | 5.11% | 7.06% |
Functional Improvements
Relieving Order History & Transaction History API fetch restrictions
Users can now search beyond 48 hours of past data when accessing the “Order History” and “Transaction History” functions. API fetch restrictions have also been relieved from these API datapoints.
bitbank now supports Websocket for its Streaming API
Lastly, bitbank has officially decided to replace PubNub with Websocket for its API.