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alex-v1-docs/orderbook/understanding-the-orderbook.md
2023-01-07 06:57:56 +00:00

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# Understanding the Orderbook
Orderbook uses a hybrid on-chain/off-chain design, whereby a commitment to buy or sell certain asset is communicated in a cryptographically signed message, which is then matched by an off-chain matching engine before settling on-chain.
<figure><img src="../.gitbook/assets/Screenshot 2023-01-07 at 2.51.48 PM.png" alt=""><figcaption></figcaption></figure>