If there is a company in the crypto world that has not been stopped by the Coronavirus crisis, that is Binance. And it is that, since the almost weekly launch of new products and services, such as Binance Access or its P2P exchange platform. Until the updating and constant improvement of your products. The Changpeng Zhao exchange has continued to produce news on the crypto market. Doing it one more time now that Binance updates its entire platform.
A scheduled update
Binance users were not surprised by today’s maintenance. Well, it was announced two days ago, on June 26, through a statement in which the exchange explained that it was due to a major update to the platform system. Therefore, for two hours, the exchange would not be available for its users’ transactions.
“During the update period, Binance will suspend deposits, withdrawals, spot and margin operations, P2P operations, OTC Portal operations, savings and redemption, as well as asset transfers from subaccounts, margin accounts, futures accounts and wallets from fiat. Users will have a 30 minute window (…) to cancel orders, process deposits, withdrawals and use all other account related functions before trading resumes.“
This paralysis of the activities of the exchange did not include the Binance Futures platform to carry out operations with future contracts on Bitcoin. Which kept operating even while the cryptocurrency exchange was under maintenance.
The total change on the platform
However, what Binance users could not imagine was the depth of the change that was taking place. Which even needed an extension of two hours over the period initially given by the company. So that the engineers of the same could complete the update.
Well, as Changpeng Zhao has reported through his Twitter account. Today’s update would be the most profound change Binance has ever experienced. Changing from scratch all the programming language on which your platform was built.
In an attempt to improve the operation of it. Therefore, it is not an aesthetic change of the exchange, but a profound transformation in its operation.
“This is the biggest update to date. We changed the exchange engine to a new programming language (and rewrote all the code from scratch, as necessary). It is the biggest update that can be done. 2 years preparing it, all for faster performance. Preparing for the next wave … #BUIDL“
Thus, it would have been two years used by the Binance technical team to be able to rebuild the platform code from the beginning, and carry out this update. Which, combined with all the products that the company itself offers, will undoubtedly expand the advantage that the exchange already has over its competitors. What makes this our Today’s Data here at CryptoTrend.