Bybit co-founder Ben Zhou: Derivatives are not the culprit of the 312 plunge, the exchange must deal with the high concurrency problem

Bybit co-founder and CEO Ben Zhou said at the Bybit new product launch conference held in the live broadcast of the chain node, “Derivatives are more tools, depending on how they are used. Without financial derivatives, prices are easy to fluctuate and be manipulated. So there is no such thing as a 312 plunge due to too many derivatives. ”At the same time, he also acknowledged that in extreme conditions, users will log in and trade at the same time, and the exchange will encounter the epic problem of high concurrency, and pointed out that 312 During the plunge, Bybit’s transaction volume reached more than 700,000 bitcoins, but there was no transaction stalling problem. There are several levels of exchange risk control. First, technically, it must reach 10 times the burst volume under extreme conditions. Secondly, fairness and risk control mechanisms must be designed into product design.