Crypto exchange Poloniex completes major systems upgrade
Poloniex, the popular altcoin, and cryptocurrency exchange, announced today it has completed a major systems upgrade that delivers enhanced performance across wallet functionality, trade execution speeds and overall latency.
The Circle team says, that while the upgraded infrastructure has made an immediate impact on the speed of the exchange, this is only the beginning.
See below the highlights of the improvements made:
Deposits and withdrawals process up to 5x faster
Prior to this upgrade, withdrawals on Poloniex for most currencies could take 5-10 minutes after being confirmed by a particular blockchain. With the recent infrastructure enhancements, confirmed deposits and withdrawals are now typically processing within 1-2 mins. A 2x-5x improvement.
These increased speeds apply to all major currencies on Poloniex including but not limited to BTC, STR, EOS, BCHSV, BCHABC, LTC, ETH, XMR, and USDC.
Trades now post and execute up to 10x faster
In addition to the increase in the speed of withdrawals and deposits, the speed in which a trader can post and execute orders has also increased.
Increased order speeds derive from a huge improvement in overall latency, which measures the delay in which data is transferred. Prior to this upgrade, Poloniex was averaging 2500 ms (milliseconds) latency per order. As of today, it is averaging 225 ms per order – a 10x improvement, with the groundwork set to drive that number even lower in the future.
Reduced latency will allow traders to capture market opportunities more rapidly and in a more predictable way. If those opportunities shift, they will be able to more quickly cancel their orders.
“Our newly enhanced infrastructure will also enable us to scale alongside the rapidly evolving crypto-ecosystem with rock-solid reliability and lays the foundation for better performance, new features, more improvements, and more support for innovative crypto projects. The success of this system upgrade is the culmination of a lot of hard work from all of our engineers and represents a major milestone for Poloniex. Since being acquired by Circle last year, we’ve now completely revamped Poloniex’s infrastructure, stabilized the platform and reduced existing customer support tickets by nearly 200,000 and are working to get to zero.”
