One of Asia’ largest cryptocurrency exchanges, Bitfinex, has announced that it would be introducing EOSfinex, an improved version and high-performance decentralized exchange which uses the instrumentality of the EOS blockchain platform.
Making the announcement on its official blog, Bitfinex revealed that the “EOSfinex” crypto exchange is set for launch at Blockchain live event in London on September 26, 2018.
The Big Three
EOSfinex, like every other decentralized exchange, will possess three necessary ingredients which are considered essential, these include;
- Decentralization: the dream of Bitfinex is to achieve a complete decentralization through the EOSfinex. With an intention to introduce trustless peer-to-peer trading experience to its users by decentralizing all sphere of operations of the business.
- Trust: to ensure nothing short of the absolute performance of the decentralized exchange, transparency must be held in high esteem on the grounds that it would create no room for trusting a central authority. This will also provide an auditable marketplace open to verification.
- Performance: EOSfinex’s target is not just to introduce a new exchange platform or to introduce one that meets the requirement of every professional trader but to introduce a platform which is superior to other exchanges in terms of executions. EOSfinex tried to create a new standard in the decentralized trading industry.
EOSfinex Launches With A Bang
The Bitfinex project is targeted at using the EOSfinex as a platform for the Asian exchange towards the ingenious innovation of the EOS blockchain and ecosystem. This project is also expected to create a new avenue for the development team to proceed with research and execute plans in the areas of security, performance, and stability.
The plan is that, when the platform is launched, it will commence activities by listing all major crypto pairs on its platforms such as; EOS/USD, BTC/USD, and ETH/USD in order to facilitate rapid expansion into the introduction of more tokens and pair.
The platform promises a flexible contract at the start in order to ensure easy execution contract. These contracts would enable; market limit, immediate-or-cancel, and post-only order to begin with but subsequent adjustment and addition might be made in the future though subject to demand.
Judging from an analytic point of view, the introduction of EOSfinex, with all the proposed feature, could disrupt the virtual currency trading industry. Unique features such as complete decentralization, which is the primary tool used in developing the platform, is expected to entice and fascinate digital asset holders and enthusiasts.
Though understanding and functioning with something that is completely decentralized might be strenuous and difficult to adapt, if there is a chance that the decentralization is possible, then it has to begin somewhere.