Blockchain.com officially launch new exchange "The Pit"
The well-known Blockchain.com has officially launched its own trading platform “The Pit”. The service focuses on speed and efficiency, as the company understands that traders are looking for a faster way to execute trades. The platform will be available to over 200 markets and in some US states. In the blog post announcement, the CEO stated:
“As a company, we’ve watched millions of our users transfer their crypto from Blockchain wallets to external exchanges only to endure nightmarish experiences – support tickets ignored, funds that can’t be withdrawn, trades missed at critical moments, and accounts hacked. So a year and a half ago we decided: enough.
We set out to build something better, a product that would not only clear up these common headaches but one that we would be excited to use. An exchange that would redefine speed, reliability, and liquidity for each and every crypto believer around the world. Fast. Simple. Reliable”
The performance of The Pit is based on a customised matching engine called “Mercury”, which according to Blockchain.com, now delivers the fastest execution in the industry. The London-based company will allow users to trade several pairs in BTC, ETH, BCH, USDT, LTC and Paxos.
As a secondary feature, traders will be able to transfer their funds directly to and from the platform thanks to “Blockchain Connect”. The official blog post stated the following:
“We’ve now created the world’s fastest crypto exchange, clocking in at 40 microseconds per trade, capable of executing millions of orders per second. Connect your Blockchain Wallet directly and The PIT allows instant trading access and rapid transfer back to your secure storage”
This certainly may not be the first or the last landmark release from Blockchain.com as the company is now looking forward to partnering with important institutional investors in London. Rumours say that the founders are soliciting support from important firms such as Google, TD Ameritrade, Interactive Brokers, and many more.
Image c/o The Pit
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