Top crypto exchange, Bitfinex, has shared plans to launch the beta version of its new improved decentralized exchange. This is to be launched on the EOS blockchain.

A step toward long term goals

The exchange plans to launch the high-performance version in London at the Blockchain Live event, scheduled on September 26, 2018.

The innovative company continues to make constant improvements and actions toward the realization of its goals and its long-term vision. The crypto exchange has identified the three major factors that serve as a foundation for every forward decision.

The three major components are decentralization, Trust, and Performance.

The Big Three

With EOSfinex, Bitfinex hopes to exploit the advantage of the distributed ledger technology as much as possible. One of the company’s major targets is achieving complete decentralization with EOSfinex; bringing a completely trustless peer-to-peer trading experience to its users. It will do this by decentralizing all operations, transactions, and processes that include on-chain order books, order matching, execution, and settlement.

Complete transparency

Perhaps the most fascinating thing about an exchange based on blockchain technology is the lack of a central authority. This is where trust is important as Bitfinex campaigns for complete transparency in EOSfinex. This is going to be done by providing an auditable marketplace. This would all the market to be audited, viewed, and observed anywhere in the world without the need for extra permissions.

A high-performance exchange

The new version is called a ‘high-performance’ EOSfinex for a deliberate reason, given BitFinex plans to deliver performance beyond the familiar execution users have come to expect. EOSfinex is set to be the new benchmark in the world of decentralized trading, proving itself above the few but nagging shortcomings that the industries have come to plague present-day exchanges.

First Glimpse of EOSfinex

Although still in its beta version, the new exchange platform will start with the support of the major crypto pairs: EOS/USD, BTC/USD, and ETH/USD. Subsequently, more pairs would be adopted as the platform continues to expand.

The manner of the contracts offered on EOSfinex would be flexible initially, with the contracts supporting different order types such as immediate-or-cancel, and post-only orders. More order types would be added depending on future demand.

The EOSfinex platform is expected to disrupt the digital currency trading industry. This is because its unique features is set to be full decentralization, a primary pillar of the exchange.

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