How Will The Poloniex Exchange System Upgrade Affect The Traders?

Poloniex, one of the most popular US-based crypto exchange has completed a major systems upgrade which has improved performance across wallet functionality, faster trade execution and overall latency. Now users are experiencing a dramatically quicker exchange.

We have collected all the information to show the benefits of these recent facilities.

5x Faster Deposits And Withdrawals

Withdrawals on Poloniex for most currencies requires 5–10 minutes after a particular blockchain. With the recent updates and infrastructure enhancements, the confirmed deposits and withdrawals are now processing within 1–2 mins, i.e 5-times more speed.

Increased speed is basically for all the major currencies on Poloniex and not limiting to just BTC, STR, EOS, BCHSV, BCHABC, LTC, ETH, XMR and USDC.

10x Faster Trades

In addition, to increase in the speed of deposits and withdrawals, the speed of traders posting and executing orders has also increased substantially.

Increased order speeds are from a massive improvement in overall latency. This measures the delay in which data is transferred. Before this upgrade, Poloniex had an average of 2500 ms latency per order. As of now, it is averaging 225 ms per order —  10 times more improvement. This foundation will bring that number even lower in the future.

Decreased latency will provide our customers to capture market opportunities more quickly and in a highly predictable way. If those opportunities shift, they will be able to cancel their orders more promptly.

Poloniex Achievement

According to Christina Pawlikowski, Director, Product Management at Circle

While our upgraded infrastructure has made an immediate impact on the speed of the exchange, this is only the beginning. Our newly enhanced infrastructure will also enable us to scale alongside the rapidly evolving crypto-ecosystem with rock-solid reliability. It lays the foundation for better performance, new features, more improvements, and more support for innovative crypto projects.

Moreover, the hard work of engineers resulted in the success of this system upgrade and represents a major milestone for Poloniex. Being acquired by Circle last year, Poloniex ’s infrastructure has been completely revised and platform stabilized. Moreover, existing customer support tickets decreased by almost 200,000 and are working to get to zero.

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