Bitfinex Opens New EOSfinex Decentralized Exchange As Crypto Community Cracks Jokes About Uptime
Bitfinex Launches New Decentralized Exchange EOSfinex
Bitfinex has decided to improve its services by launching the beta version of the EOSfinex decentralized exchange (DEX). This development aims at providing the speed and scalability features of the EOS network and combines them with the expertise that Bitfinex has in the cryptocurrency market.
EOS-Based Decentralized Exchange Launched With Bitfinex
Bitfinex has recently announced the beta of the decentralized exchange that has been built on top of EOS and its technology. The EOSfinex aims at improving the services provided by the platform by creating a decentralized platform.
Introducing the first fully on-chain, high-performance and scalable exchange ecosystem on EOS.
— eosfinex (@eosfinexproject) March 28, 2019
Centralized exchanges have been highly criticized for being vulnerable to attacks from different hackers. Indeed, a large number of platforms have been hacked, resulting in the loss of millions of dollars in virtual currencies.
Although decentralized exchanges have been operating for a few years, they were not able to reach mainstream adoption. In general, these exchanges lacked a good user interface and usability.
About the new platform Bitfinex explained:
“Eosfinex combines the scalability and speed of EOS with Bitfinex’s industry expertise to deliver an on-chain trading exchange designed around speed, control, and transparency.”
With this DEX, their goal is to offer tens of thousands of transactions per second with minimal fees and confirmation times. Although the exchange was launched without issues, there were some problems later. Some users on Twitter were showing that the exchange has been operating in with some problems.
LOL Really pic.twitter.com/xGNplJT2oJ
— TxSec (@Tx_Sec) March 28, 2019
After the server collapse of the EOSfinex exchange, the community and crypto investors did not know how to react to the launching of this platform.
Another cryptocurrency exchange, Binance, is also planning to launch its own decentralized exchange that aims at providing a solution to all the problems present in other DEX in the crypto market. Until now, there is no specific date for the official launching of this platform but it might be ready in 2019.