What is market makers?
Market maker means that when you place an order at the price specified by you (the price of market maker is lower than the market price or the price of market maker is higher than the market price), you will not immediately close the deal with other orders in the depth list, but enter the depth list and wait for the other party to take the initiative to close the deal with your order. This behavior is called market maker.
What is market takers?
Market taker means that when you place an order at the price specified by you (crossed with the order in the market depth list), you immediately close a deal with other orders in the depth list and take the initiative to close this deal with the order in the depth list. This behavior is called market taker.
If the demand of ordered side is large and the supply does not meet the demand ,the demand that can not be met will become a new order as a hanging order and continue to wait for the transaction in the case of limit order and no cancellation
Conclusion: in a transaction, the market maker stands for the Party that quotes first and the market taker refers to the Party that quotes after the market maker, and then the close the deal after price matching.