Bitfinex, the popular cryptocurrency trading company, has announced the beta launch of EOSfinex, a decentralized exchange built on EOS technology. This announcement comes after the recent launch of Ethfinex, a hybrid Ethereum-based exchange which allows users to take advantage of both centralized and on-chain trading opportunities.
Commenting on the launch, Paolo Ardoino, Chief Technology Officer at Bitfinex, said, “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 decentralized exchanges.”
Focused on decentralization, trust, and performance, EOSfinex aims to facilitate peer-to-peer value exchanges in a transparent and scalable manner, thus enabling high-volume blockchain-based trading. EOSfinex will allow for a peer-to-peer network which will be entirely trustless, that can be viewed by participants the world over.
To begin with, it will trade the major pairs, EOS/USD, BTC/USD, and ETH/USD, with the capacity to expand this offering through specific trusted contracts.
EOS, the underlying technology of EOSfinex, allows for the horizontal scaling of decentralized applications, which in turn enables developers to create high performance distributed applications. The combination of this technology with the expertise brought by the Bitfinex team will facilitate the creation of an exchange where on-chain trading of digital assets can take place rapidly, transparently, securely, and in a scalable manner.
“This is an important development for both Bitfinex and EOS, as EOSfinex will be a highly-scalable, performance-driven platform, focus on transparency and decentralization. With features such as easy scalability and flexibility, EOSfinex will display how trustless on-chain exchange and high-performance can be the expected norm, and how these are vital for the blockchain industry as a whole,” concluded Ardoino.