The developers of cryptocurrency exchange Bitfinex has published a message on Twitter about the release of the new engine platform. Hive, the so-called development, is a decision on the scale of the trading platform.

This week we deployed Hive — a distributed matching engine built around speed, stability and scalability.

— Bitfinex (@bitfinex) 13 APR 2018

All the current week, the developers worked on the deployment of the updated system, which will allow to increase the performance of each element of the site, in particular to improve the stability, speed and scalability.

The new engine platform supports Bitfinex cryptocurrency trading and other financial instruments through the computer management of area-based and electronic systems data mapping. Thus, automatically matching transactions on the platform, allocation of orders for purchase/sale between users through a particular set of algorithms and rules.

By improving the efficiency of distribution of orders and trades on the crypto currency exchange Bitfinex developers were able to reduce fees to the minimum value, as well as improve the bidding process. Thus, the users of the exchange can now evaluate the lowest spreads and improved depth list of orders.

Recently implemented updates to the platform Bitfinex was aimed at the transition from the single-threaded negotiation mechanism for distributed high-performance multiprocessor system. This system, called Hive, allows you to more effectively fulfil orders, and to improve scalability by distributing the workload across multiple workstations.

Thanks to innovations implemented in the upgrade Hive clients exchange Bitfinex is now able to more quickly respond to price fluctuations and changing market conditions. The new architecture allows the Bitfinex team to maintain high performance in terms of increasing user-base and crypto-currency pairs as well as unforeseen spikes in trading activity.

Currently, the distribution of mechanism of coordination on the crypto currency exchange allows you to minimize the likelihood of failures in the system even at high loads. Relying on the test results, the developers Bitfinex argue that upgrading Hive provides the ability to process 100 times more orders compared with the previous trading platform. At the same time managed to reduce significantly execution time of orders to 14 MS.

However, at the moment work is underway on the optimization of the Hive, which will provide in the future improvement of the results achieved. Also, the Bitfinex team stated the following:

“Update Hive integrated full support for new order types such as “position the reduce onlymarginorders”, token-level orders to restrict trading (self-trading), FX virtual books, and support a number of additional gateways, including Ethfinex DEX and FIX”.

Deploy Hive sets a new standard of performance to ensure the digital assets and provides the basis for introducing further improvements in the field of development, decentralization and scalability.

The enhancements to Hive, a crypto currency exchange Bitfinex provide the necessary space for development and adaptation in the rapidly emerging space of virtual currencies.