A previous news made it known that Bitstamp a popular exchange has been acquired by a Korean based investment firm. Based on a recent report this accusation is likely to be the start of Bitstamp’s plans to dominate the crypto exchange scene in few years to come. Bitstamp has made it known that through a partnership with Cinnober (a Nasdaq own company) it has increased its matching system by 1,250x. The exchange also made it known that its overall throughput will increase by 400x.
Bitstamp Changed its Technology
The Luxembourg-based exchange also said that it will be replacing its own technology with TRADExpress, a software stack developed by Cinnober.
Based on information from the exchanges official blog page, the reason for this change was known. The blog post stated that:
“This is a crucial step on our mission to bridge the gap between crypto and traditional finance and will push the technological frontier in crypto trading a step further. We chose Cinnober because of their proven track-record in worldwide financial marketplaces, their understanding of our vision and ability to work closely with us to customize the technology to meet our needs.”
Based on a recent report, Bitstamp is currently averaging about $50 million for its 24-hour trading volume, this has placed the exchange 33rd on the most-used exchange in cryptocurrency list. It is, however, important to note that Bitstamp does not list as much crypto pairs as others on this list. The exchange is well known to mostly list “blue chip” pairs. This can be blamed for its current low position.
Bitstamp Set to Increase Market Shares
With this new upgrade, Bitstamp is looking to market shares and attract more traders to its platform. The exchange has commented on this fact here:
“The new matching engine will be implemented in a few phases, with the first changes taking place in Q1 of 2019 and full implementation expected by the end of Q2. It will allow us to meet any amount of demand and provide a number of additional services without a drop in performance.”