# 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="/files/RQ6OINnI7EVxTvgjjRI2" alt=""><figcaption></figcaption></figure>


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