India’s largest cryptocurrency exchange WazirX is constantly improving and upgrading its services. The team led by Nischal Shetty and Siddharth are working diligently to enhance the user experience. As we write, there comes a new update to their peer-to-peer payment.
WazirX Cofounder Siddharth got on to Twitter to elaborate on the latest upgrade. As per the tweet, a pre-confirmation check is added to the payment system. It means that the payment system will search for a probable match for the sell order. If the probable match does not want to match the order at that particular time, the P2P payment system will search for a new match for that sell order. Only if the match confirms, the WazirX exchange will proceed with the transaction.
The tweet further states
“Automation in P2P improves speed & user experience but also increases technology & algorithm complexity. “
A Twitter user for further clarification asked about the pre-confirmation time frame.
For that, the WazirX co-founder replied that the feature is still in the testing phase and 15 mins are set as standard. Further, he added that the time frame will reduce in the future.
WazirX in News
The WazirX team got acquired by the Malta-based exchange last month that created a lot of stir in the crypto market. The unique P2P payment feature of WazirX will be beneficial for the Binance exchange. With this acquisition, the WazirX team will continue handling the technicalities of the exchange. However, management will be overlooked by the Binance team.