Sam Bankman-Fried Announces Big Updates in Preparation for FTX V2

Sam Bankman-Fried has announced that the exchange will be launching a series of new developments.

Sam Bankman-Fried Announces Big Updates in Preparation for FTX V2

Sam Bankman-Fried, the CEO and Founder of FTX, has announced that the exchange will be launching a series of new developments over the next month aimed at improving the platform’s efficiency.

Big Updates Coming to FTX

FTX, one of the biggest crypto derivatives platforms, is gearing up for a major performance boost. According to Bankman-Fried, over the next month, FTX will receive a range of updates that have “been in the works for most of the year.” The billionaire CEO tweeted:

Bankman-Fried states that, while some of the updates have already gone live, a final release is dated for November 21st. Among the updates are included a new order matcher and lower latency API pathways, in addition to “a whole slew of other features.”

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One particular highlight is the expectation that the coming updates will “double the order throughput”, and “half the order of latency” of FTX. It is projected that the changes being introduced will improve processing times and transaction speeds on the platform.

FTX V2 to Bring Better Performance

According to Bankman-Fried, by the time the updates have been completed, “FTX: V2,” could already be live. The CEO praised the FTX development team for “turning sleepless nights into higher order throughput and lower API latency.” 

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The billionaire has also requested the cooperation of API traders, with whom the exchange will preview and test some of the changes in advance.

  • The announcement met with a lukewarm reaction on Twitter, with some users calling for the exchange to rather improve the platform’s user interface.

Why You Should Care

The updates are expected to reduce processing times for trade orders and increase overall transactional speeds, with FTX seeking to compete for the top exchange spot.

This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed as financial, legal, or tax advice. Trading forex, cryptocurrencies, and CFDs pose a considerable risk of loss.

Author
Milko Trajcevski

Milko Trajcevski is a DailyCoin news reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs). Location: Skopje, Macedonia