The Inner World of Cryptocurrency Exchanges: The Trading Engine

The Orion Finance team loves to offer our users useful content. We regularly review the hottest news of the cryptocurrency market and study cryptocurrency regulations in different countries. Today we introduce a new section where we will discuss the internal structure of cryptocurrency exchanges.

Let’s go!

A cryptocurrency exchange consists of a visible shell aka an interface and so-called guts, that is, a software. The software includes the following things:

• trading engine
• trading terminal
• payment gateway
• hot wallet
• cold wallet
• API scripts
• trading bots.

The things are more or less clear when it comes to this shell, but most traders are unaware of how the internal parts of this mechanism really work. We are here to reveal this secret and let you into the inner world of Orion Finance! Let’s start with the most important thing — our trading engine.

The trading engine is the main part of the crypto exchange. It is responsible for the main actions performed on the exchange. Here, the funds on the users’ accounts and the possibilities for the transaction are checked as well as the orders are executed by joining the purchase and sale offers. Moreover, the Orion Finance trading engine also takes care of processing information on prices and commissions, creating charts and glasses, and ensuring security.

Engine development is the most time-consuming part of creating an exchange and takes up most of this process.

However, there is no universal template for all cryptocurrency platforms. It means that, for instance, the Binance and Orion Finance cores are very different. Also, different programming languages are used to write the software of trading engine depending on platform’s goals and the developers.

The engine development process never ends, and fresh updates are needed frequently to keep the exchange alive.

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Sincerely,

Your Orion Finance Team.