Bitfinex collaborates with EOS.io; introduces decentralised trading platform EOSfinex

On 26th September, the beta version of EOSfinex was introduced at Blockchain Live in London. According to the official post, Bitfinex, a cryptocurrency trading platform, had announced the collaboration with EOS.io to introduce EOSfinex.

The Bitfinex powered EOSfinex will initially list EOS/USD, BTC/USD and ETH/USD trading pairs. Furthermore, the trading platform will support the market orders, limit orders, immediate-or-cancel orders, and post-only orders. They further stated that additional order types would be created along with the help of customer feedback and logical understanding.

EOSfinex claims to promote a highly-scalable network with an efficient peer-to-peer exchange platform which is built around the principles of transparency, speed and integrity. Furthermore, the trading platform claims to be truly decentralized and unconstrained by borders.

The official post stated that EOSfinex had set an agenda in order to be a decentralized exchange platform. They further elaborated on the three components of their project which included decentralization, trust, and performance. The post stated that EOSfinex aimed at providing a trustless peer to peer trading experience and in order to reach that goal, the exchange platform needed complete decentralization.

They further added that the exchange could be truly decentralized only after building a reputation with the users where trust is a prerequisite condition. Furthermore, by creating a transparent and auditable exchange model, individuals from all around the world could monitor and verify the transactions on the exchange. The professional traders often set high standards while trading in exchanges. EOSfinex claims to provide such standards through an in-depth understanding of their demands and by prioritizing high performance.

Brian Norton a Twitterati stated:

“Can you withdrawal / deposit usd directly to the eosfinex usd wallet with a linked bank account? How do you get cash to the wallet?”

George posted on Twitter:

“will there be an alpha prior to November for people to attempt ? will there be margin trading?”

According to a recent post, Bitfinex announced the launch of ETHfinex, an Ethereum based cryptocurrency exchange. Their aim is to provide a decentralized trading platform which focuses on both on-chain and centralized trading.