Bitfinex launches Ethfinex, the Ethereum based exchange
Bitfinex, a cryptocurrency exchange operated by iFinex Inc, announced the launch of Ethfinex, a hybrid Ethereum-based exchange. Through Ethfinex, prospective traders will be able to transact over 57 Ethereum-based tokens.
Ethfinex was in its beta phase for the better part of a year, before being unveiled via a blog post entitled “Introducing Ethfinex Trustless: A high-performance platform for decentralized trading”.
Introducing Ethfinex Trustless – an Ethereum based trading solution placing security, privacy and control in the hands of the user.
— Ethfinex (@ethfinex) September 17, 2018
Will Harborne, director of operations at Ethfinex, said: “Today represents the culmination of a prolonged phase of hard work and dedication fueled by our vision for a decentralized, community-governed trading platform. We are beyond excited to leverage Ethereum to deliver a sophisticated, trustless trading experience to users worldwide and to further extend the boundaries of decentralized exchange.”
The aforementioned announcement by the company specified the following features of the specialized exchange, “no signups, no deposit or withdrawal delays and no sacrificing custody of your tokens.”
Throughout the trading process, the funds will be in full control of the user and a highly liquid off-chain order book will be maintained for executing trades. The on-chain platform will see trading through MetaMas, Trezor, Keystore, and others.
Ethfinex seeks to bring forth a more secure, private and liquid digital asset trading system, thereby confronting concerns people have with centralized exchanges.
Vitalik Buterin, co-founder of Ethereum and Bitcoin Magazine, while speaking to TechCrunch in July, had voiced his opinion against centralized cryptocurrency exchanges. He harshly stated that he hoped they would “go burn in hell as much as possible.”
“Through removing the array of concerns associated with current centralized entities, Ethfinex aims to power a new era of digital asset trading which prioritizes the control individuals have on the security, privacy, and liquidity of their trading experience. We are dedicated to showcasing the power of decentralized and trustless trading solutions as this exciting journey continues,” said Harborne, in an attempt to quell concerns stemming from the usage of the on-chain platform.
Image via Google
Join our Telegram group