Good news for those who has been actively and eagerly anticipating the start of IOTA exchange trading on Bitfinex. The much awaited IOTA exchange trading is now live and began at approximately 1PM UTC today, Tuesday June 13th, 2017. According to the Bitfinex update, IOTA will be traded against USD and BTC. Margin trading for IOTA pairs will be enabled as the order book develops suitable liquidity.
Several factors were considered and approved before the addition of IOTA trading on the Bitfinex platform. Some of the them include (but is not limited to the following):
- Design parameters
- A thorough assessment of the token’s development process
- The request made by majority of users
- The market capitalization;
Bitfinex also cited the team behind the token, their strategies for solving technical and nontechnical problems, as well as addressing the scaling issues currently confronting traditional blockchain technologies.
It’s a well-known knowledge that the internet has (and probably will) continue to expand, the need for interoperability and sharing of resources becomes necessary. IOTA enables companies to develop and explore new ecosystems of applications by making every technological resource a potential service to be traded.
It should be noted that we made first made note last week concerning the launching of the IOTA exchange trading, and according to reports, Bitfinex supports such innovation and finds it in Tangle, IOTA’s blockless distributed ledger which is both scalable and lightweight; the more users on the network, the faster it becomes. Contrary to typical blockchains, consensus is no longer decoupled; but instead, a very intrinsic part of the system, leading to a decentralized and self-regulating peer-to-peer network.