How to implement WebSocket for real-time order book updates in a cryptocurrency exchange?

Problem Faced:

• Traditional HTTP-based API polling is inefficient for high-frequency trading.
• Delays in order book updates lead to stale data, impacting traders’ decision-making.

Solution:

• Implement WebSockets to push live updates to connected clients.
• Use Redis Pub/Sub to broadcast changes across multiple exchange nodes.

Implementation in Node.js (WebSocket server):
JavaScript

const WebSocket = require('ws');
const wss = new WebSocket.Server({ port: 8080 });

wss.on('connection', (ws) => {
    console.log('New client connected');

    ws.on('message', (message) => {
        console.log(`Received: ${message}`);
        ws.send(`Echo: ${message}`);
    });

    ws.on('close', () => console.log('Client disconnected'));
});

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