Bitfinex to Build Decentralized Exchange EOSfinex on the EOS.IO Platform

EOS.IO and Bitfinex have partnered up to build the first decentralized exchange to be built on the EOS.IO technology. EOSfinex aims to combine the scalability and speed of EOS.IO with Bitfinex’s industry-leading expertise. The new project is said to deliver an “on-chain” exchange designed to offer a fast, transparent and trustless platform for the trading of digital assets.

The partnership between the proven and reputable cryptocurrency exchange Bitfinex with EOS.IO serves to prove the potential of the platform.

Bitfinex explains that its continuous goal has been to research and sandbox the capabilities of various protocol-level technologies that meet the rigorous requirements of a high volume, Blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term-based Trading Platform Trading Platform In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real In the FX space, a currency trading platform is a software provided by brokers to their respective client base, garnering access as traders in the broader market. Most commonly, this reflects an online interface or mobile app, complete with tools for order processing.Every broker needs one or more trading platforms to accommodate the needs of different clients. Being the backbone of the company’s offering, a trading platform provides clients with quotes, a selection of instruments to trade, real Read this Term. The search for a reliable solution led to EOS.IO, which aims at processing tens of thousands of transactions per seconds, with minimal fees and confirmation times.

Post-Announcement Bounce

In the aftermaht of the announcement, the price of EOS against Bitcoin spiked higher to 0.00105 BTC. The rally has sinze fizzled out with the EOS/BTC pair trading at 0.00102.

$EOS bouncing off the long term support here. EOSfinex announced at the same time. Take note of where it went when it bounced off this line. pic.twitter.com/Lp9We5tIvo

— CryptoFro (@CryptoFro) February 12, 2018

Commenting on the announcement, the CEO of Bitfinex, J.L. van der Velde, said: “We are excited to leverage EOS.io to further advance the field of high performance and trustless on-chain exchange. Block.one continues to display an unwavering dedication to improving blockchain scalability through the EOS.IO platform and it is our hope that this collaboration will allow significant advancement for all decentralized exchange.”

“Our experience indicates that these advancements represent fundamentally transformative capabilities for the blockchain industry, and Bitfinex remains dedicated to leveraging the latest innovations to continue offering the world’s leading trading experience.”

The company will be providing more information about the project as progress is being made.