Singapore-based cryptocurrency exchange Huobi today launched a beta version of Huobi EOS, a decentralized exchange built on the EOSIO technology.

Huobi EOS was announced back in December months after there launch of Huobi DM. It aims to fill the appetite of traders who are always looking for new trading tools in the crypto space.

Why they chose EOS?

EOSIO is an open source blockchain protocol which allows users to run smart contracts and supports crypto applications. The bonuses of using EOS are Zero transaction fees and is capable of conducting millions of transactions per second compare due to there model of delegated proof of stake.

EOS runs on a system called delegated proof of stake, which is similar to PoS but as the name implies delegates decision making and mining power to selected nodes. Blocks are produced by these representatives according to a “continuous approval voting system”, which mandates that new producers go up for election every 21 blocks. These block producers are called supernodes.

What do I think?

An EOS ecosystem will be very good for the coin with it being pegged as the base coin against other tokens. This should increase the trade volume and transactions of EOS going forward.