The Impending Launch of EOSfinex

On 15^th February 2018, Bitcoin reached a valuation of $10,000. Several crypto-traders rejoiced. There has been much fluctuation like these in the market cap of Bitcoin and each time it elicits a variety of reactions from the crypto-traders. It has been a turbulent three months, but bright things are waiting to happen for several coins in the crypto verse including EOS. It had achieved a mark of $18.05 on January 13^th but it is currently slated to reach a potential mark of $20 by the middle of 2018. EOS was listed on exchanges in July 2017 at $1.03. Considering the stunning performance EOS has been showing since its launch, it is highly likely for it to reach a $20 mark by the end of 2018.

The factors that would propel EOS to reach $20 valuation

Bitfinex has joined hands with EOS to launch a unique, high-performing, decentralized exchange known as EOSfinex. Such a decentralized exchange has been established on EOS.IO technology.

• What is EOS.IO?

EOS.IO is a blockchain protocol, published by Block.one, which supports the parallel scaling of decentralized applications, thus allowing developers to build high-performing distributed applications with efficacy. The EOS.IO software provides authentication, databases, accounts and the scheduling of applications across a large number of CPU clusters or cores. This permits the horizontal scalability, substitutes user fees with an ownership-based model and thus consolidates the simple implementation of decentralized applications.

• What is Bitfinex?

Bitfinex is a cryptocurrency exchange that was founded in the year 2012 and is known for offering world-class services to global liquidity providers and traders who specialize in dealing with digital currencies. In addition to a plethora of charting tools and advanced trading options, Bitfinex also offers access to an OTC market, peer-to-peer financing and margin trading for a wide array of virtual assets.

In order to carry on expanding the boundaries of services and innovation, EOSfinex will merge the scalability and speed of EOS.IO with Bitfinex’s proficiency in delivering an “on chain” exchange. This makes EOSfinex equipped to offer a swift, transparent and trustless platform that would enable the trading of a wide variety of digital assets. Bitfinex’s vision has always been to research and tap the potential of several protocol-level technologies that would meticulously meet the exact necessities of a blockchain-based trading platform. This goal of Bitfinex has led to the creation of the EOS.IO.

One of the critical issues of a centralized exchange is ensuring the security of all the digital assets will be traded on the platform. With a decentralized exchange, crypto traders have the substitute option to trade any digital asset by exploiting the current blockchain technology which is common to all cryptocurrencies. The word ‘trustless’ means crypto-traders should not trust one singular entity or person during a trading transaction. The existing blockchain will be used in a way that the trade would be protected, stress-free and transparent.One of EOS’s main objectives is to become the platform which would allow thousands of transactions to get processed per second with minimal confirmation times and fees. The project will get the opportunity of exhibiting proof of proof-of-concept with the decentralized exchange which is known as EOSfinex.

Next comes up the question of the likeliness of using pairs of EOS trading on the platform. That being the case, the price of EOS will surely see an upsurge as such trading will reinstate the trust crypto-traders have when a coin is offered in a trading pair. The main trading pairs centered on Ethereum, Bitcoin and such key crypto-currencies which belong to the individual exchange. With Bitfinex, an exchange that was established in 2012 and a daily trading volume amounting to 1.39 billion dollars, the attention of every trader in the crypto market will turn towards EOSfinex and EOS. That is because these traders are always looking for a single platform that can possibly accommodate all 1542 tokens available in the crypto market.

The second factor that could cause the value of EOS to skyrocket in the future is the actual activity taking place in the numerous meetings that have occurred or are being organized across various cities in the world like the one in New York on 6^th of February, or another in Seoul on February 7^th. Another meeting is due to be held in Hong Kong on the 6th of April. It is these meet-ups that will guarantee the successful fruition of the project and the real-world, applications of its objectives in the whitepaper.

Conclusion

It can be said that the project has been gaining a lot of momentum and a boom for EOS in the cryptomarket and this is quite evident. EOS is a coin and platform that are bound to keep moving throughout 2018. Each development will trigger the similar movement of the coin across the exchanges.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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