Crypto Exchange OKCoin Adds Decentralized Blockchain App Protocol EOS to Platform
OKCoin, a major cryptocurrency exchange, has recently decided to diversify the assets held by the company by adding a new token to its offerings: EOS. This cryptocurrency may be somewhat new but it has gained a lot of adoption recently.
EOS is a direct competitor of Ethereum and Tron. The network is used as the basis for the creation of decentralized apps, something that is the main goal of ETH as well.
At the time of this report, OKCoin has already started to receive inbound transfers of EOS, as well as withdrawals of the tokens. Spot trading will be started at 8:30 p. m. PST initially with the EOS/USD pair.
OKCoin is currently accepting fiat (USD), as well as Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH), Bitcoin Cash (BCH) and Ethereum Classic (ETC) at the moment and EOS will now join these current offerings.
The company has also promised that it will increase this number in the future and that there will be more diversity of trading pairs in the platform.
A New Promotion For Early Users
Together with the announcement, which was made by OKCoin on its official Medium blog channel, the company has also decided to start a promotion. The first 100,000 users who are able to deposit EOS in their accounts until April 27 will be eligible to participate in a prize pool.
This way, the early adopters of the new tokens will receive the opportunity to win special prizes, which the company believes that will help to boost the adoption of the new token on the platform and its liquidity together.
EOS has been growing lot recently. The company, which uses a delegated proof of stake method in which 21 block producers mine the tokens and secure the network, is one of the major threats to Ethereum now.
While some people complain about the possibility of centralization because the company only has these 21 block producers, but it has seen considerable adoption since the launch and now several investors and developers are considering a valid opponent to Vitalik Buterin’s network.
OKCoin was originally one of the biggest three exchanges of China when the local government decided to crack down on the industry. After that happened, the company has decided to operate overseas in order to escape China’s regulatory claws.
According to CoinMarketCap, OKCoin handles $873 billion USD worth of cryptos daily, being the second largest exchange in the world. OKCoin International, which has fiat options, handles $2.4 million USD in cryptos daily.