Meet EOSfinex – EOSIO-based Decentralized Exchange Launched by Bitfinex

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by Julia Sakovich · 3 min read
Meet EOSfinex – EOSIO-based Decentralized Exchange Launched by Bitfinex
Photo: Bitfinex / Twitter

Just after the launch of a decentralized exchange called Ethfinex, Bitfinex announced the launch of EOSfinex which is built on EOSIO technology.

As it has been recently revealed, one of the world’s major professional crypto trading platform Bitfinex has launched the beta version of its decentralized exchange functioning on the base of EOSIO technology which is called EOSfinex.

Founded in 2012, Bitfinex was established in 2012 and now its 30-day trading volume is over $14 billion USD. This digital asset trading platform offers crypto traders and global liquidity providers the most demanded services. Moreover, it provides access to P2P transactions, over-the-counter markets and margin trading for a wide range of crypto assets which is possible thanks to implementation of various trading and charting tools.

It is important to mention that the announcement of the beta launch of EOSfinex just follows the recent launch of another platform of Bitfinex. It was a hybrid Ethereum-based exchange known as Ethfinex. Thanks to its hybrid nature the platform offers its clients a chance to enjoy both centralized and on-chain trading opportunities. These projects demonstrate Bitfinex’s real desire to contribute to the development of the growing blockchain trading ecosystem.

Speaking about EOSfinex, Chief Technology Officer of Bitfinex, Paolo Ardoino, stated:

“We are delighted to be moving forward with EOSfinex, which will allow for increased innovation within EOS, further developing aspects of scalability and performance of exchange platforms. The EOSIO technology supports high-speed transactions, particularly with high volume trading, which will be a strong advantage for on-chain trading, and proves the potential for digital asset exchanges to continuously develop. This is also a very exciting time for Bitfinex, as we continue to demonstrate our commitment to working towards the evolution of trustless decentralised exchanges.”

The main aim of EOSfinex is to make peer-to-peer value exchanges simpler, to enhance their transparency and the level of trust from the side of users. The final goal of the platform is to create conditions for high-volume blockchain-based trading.

Through EOSfinex, it is planned to build an expanded peer-to-peer network that will be available for participants from different corners of the world. At the beginning of its functioning, EOSfinex will offer a possibility to work with the major trading pairs that include EOS/USD, BTC/USD, and ETH/USD. But it is expected that in the future this offering will be expanded with the help of specific trusted contracts.

EOSIO is a technology on which EOSfinex is based. Through the usage of this technology the platform will ensure the horizontal scaling of decentralized applications. As a result, developers will have a possibility to build highly effective distributed applications.

According to Paolo Ardoino, the platform is a very significant development not only for Bitfinex but also for EOS. He said that EOSfinex will become a highly-scalable platform that will stand out from the row of its rivals for high level of transparency, excellent speed of transactions, their security and special focus on decentralization.

Altcoin News, Bitcoin News, Cryptocurrency news, News
Julia Sakovich
Editor-in-Chief Julia Sakovich

Having obtained a diploma in Intercultural Communication, Julia continued her studies taking a Master’s degree in Economics and Management. Becoming captured by innovative technologies, Julia turned passionate about exploring emerging techs believing in their ability to transform all spheres of our life.

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