How does order matching actually work inside a crypto exchange?

[emilyjones]

If you've ever built or studied exchange architecture, you know the order matching engine is the real engine room, not the UI, not the wallet integration, the matching logic itself.
It's the component that takes every buy and sell order, checks price and time priority, and executes trades in milliseconds. Get the matching algorithm wrong (FIFO vs pro-rata, for example) and you get slippage, unfair fills, or the whole system chokes under load.
For devs building or auditing exchange platforms, worth understanding the core mechanics before touching the codebase. Broke it down here: Order Matching Engine in Crypto Exchange
Curious what matching algorithms others here have implemented — FIFO, pro-rata, or a hybrid?