Decentralized Exchange Powered by the EOS Blockchain
After announcing plans in early 2018 to develop a high-performance decentralized exchange on the EOS protocol, Bitfinex will be unveiling a beta version of the EOSfinex exchange at a live event in London on September 26th.
“EOSfinex is a high-performance, decentralised exchange built on EOS.io. technology. As an entirely trustless trading experience, EOSfinex will facilitate a highly-scalable network of peer-to-peer value exchange, unconstrained by borders and built around a foundation of transparency, speed and integrity.
We will be unveiling a beta version of EOSfinex at Blockchain Live in London, September 26th.” –Blog.Bitfinex announcement
Users will be able to trade with the major pairs EOS/USD, ETH/USD, and BTC/USD, with a wider variety of digital assets set to be implemented in the near future.
According to the announcement on the official Bitfinex blog, EOSfinex will be focused around three primary things:
Bitfinex is one of the old guards when it comes to cryptocurrency exchanges. It’s been through its fair share of ups and downs throughout the years, especially when regarding USD-Tether, but it has shown strong support for the emergence and growth of EOS. Bitfinex is also one of the 21 elected block producers for the EOS blockchain.
Is This a Preview of EOS’ Power?
Moving from centralized to decentralized exchanges is one of the most important steps the cryptocurrency sector can now take. A couple of the key setbacks for digital assets at the moment are regulatory stances and bad actors taking advantage of the market volatility and rampant manipulation.
Incidents of large, well-known crypto exchanges manipulating the prices of cryptocurrencies is nothing new, and creating exchanges that eliminate the middleman could not only benefit digital assets, but could help traditional markets such as gold and the stock market become more transparent.
By using the EOS protocol, this can become a reality, and it demonstrates what EOS is actually capable of and whether or not it can genuinely do what everyone has speculated it can do. EOS still holds the record for having the most network activity in one day!
Disclaimer: This is not investment advice. Nothing is guaranteed, and the blockchain and digital asset sectors are incredibly volatile. Please conduct your own in-depth research.