EOSfinex: EOS + Bitfinex Decentralized Cryptocurrency Exchange?
EOSfinex claims to be the world’s first high-performance decentralized exchange. Find out how it works today in our EOSfinex review.
What is EOSfinex?
We have Bitfinex. Now, we have EOSfinex. The platform aims to create a high-performance exchange that combines the speed and scalability of EOS.io software with Bitfine’x industry-leading experience.
Today, the official website at EOSfinex.com features just two sentences and an email submit form. You can enter your email into that form to stay updated on the project. However, no additional documentation has been posted online.
EOSfinex was announced on February 12, 2018 – so the platform is brand new. The news was announced by Bitfinex through a Medium post (https://medium.com/bitfinex/announcing-eosfinex-69eea273369f). The platform is rumored to be launching in June 2018. However, we know very little about EOSfinex at this time.
How Does EOSfinex Work?
EOSfinex aims to combine the scalability and speed of EOS.io with Bitfinex’s industry-leading expertise, creating an on-chain exchange that offers fast, transparent, and trustless digital asset transactions.
EOS.io, for those out of the loop, is a blockchain-based digital currency platform that was launched with the goal of processing tens of thousands of transactions per second with minimal fees and confirmation times. Bitfinex, in an effort to improve the scalability of its protocol-level technologies and its own blockchain-based trading platform, decided to use EOS.io to achieve those goals.
EOSfinex will combine Bitfinex’s existing exchange protocol with EOS.io’s scalability in order to create a high-powered decentralized exchange. Like other decentralized exchanges, EOSfinex will allow traders to hold onto their assets while engaging in peer-to-peer trading. There won’t be a need to trust a centralized third party – like the exchange – to participate in high-volume cryptocurrency trading.
Ultimately, a decentralized exchange backed by Bitfinex and EOS.io is a big deal for the crypto community.
Who’s Behind EOSfinex?
EOSfinex is a partnership between Bitfinex and Block.one’s EOS.io. EOS.io is in active development by blockchain technology company Block.one. It’s a blockchain protocol that enables horizontal scaling of decentralized apps, allowing developers to efficiently create high-performance applications in a distributed environment.
The EOS.io software offers accounts, authentication, databases, and application scheduling across multiple CPU cores or clusters. This allows for horizontal scalability. It also replaces user fees with an ownership model while facilitating easy deployment of decentralized apps.
Bitfinex is one of the world’s largest and most popular cryptocurrency exchanges. Founded in 2012, Bitfinex provides crypto trading, peer-to-peer financing, an OTC market, and margin trading for a wide range of digital assets.
Bitfinex decided to partner with EOS.io to improve the scalability of its own trading platform
There’s limited information about EOSfinex available online at this time. Everything we know comes from a Medium post launched on February 12. That Medium post explains the basic goals of the project, including how it wants to combine the power of Bitfinex with the capabilities of EOS.io, leading to better speed, security, and scalability on the cryptocurrency exchange.
To learn more about EOSfinex and its ongoing development, visit online today at EOSfinex.com. Aside from an email submit form and a couple of sentences, however, that website is blank. EOSfinex is rumored to be launching in June 2018. Stay tuned for further details.