According to Coinmarketcap, Bitfinex is the world’s fifth largest exchange with just under a billion dollars traded in the past 24 hours. In an announcement yesterday, the company introduced the first high-performance decentralized exchange to be built on EOS.IO technology.
ON-CHAIN EXCHANGE:-
The company has said that its new product, EOSfinex, will combine the speed and scalability of EOS with its own leading industry expertise. The result will be an on-chain exchange providing fast, transparent, and trustless transfers of digital currencies. EOS.IO, with the ability to handle thousands of transfers per second, was a good fit with the goals of Bitfinex to continue pushing the boundaries of the high volume trading platform.
EOS OVER ETHEREUM:-
EOS is a blockchain protocol which enables horizontal scaling of decentralized applications (dApps). This effectively allows developers to create high performance distributed applications that do not operate on the same chain. Ethereum developers are working on a similar technology called sharding which will facilitate the same thing when the update is rolled out.
The EOS token is currently ninth in the market capacity charts, trading at the time of writing around $9. It has risen steadily over the past week by 50% but is still down from its all-time high of $18 on January 11. The total market cap is just under $6 billion and it is traded predominantly on South Korean exchange Bithumb which has 40% of the total. Around $348 million has been traded in the past 24 hours and the news of the partnership is likely to boost these figures for EOS.
