Huobi Launches EOS Decentralized Exchange Beta

Huobi has launched (still in beta test mode) a decentralized platform for trading crypto assets,powered by the EOS blockchain network. According to the CEO of Huobi, EOS was chosen due to the demand from traders for an expanded range of instruments.

Cryptocurrency exchange Huobi has begun beta testing of a decentralized trading platform based on EOSIO technology called Huobi EOS.

EOS/BTC, EOS/ETH and EOS/USDT pairs will be available during DEX testing, and the project team promises to gradually increase their number.

The plan to launch a decentralized exchange wasannounced at the end of December, EOS was chosen as the basis because "experienced traders want to see a larger set of tools," said Huobi CEO Livio Weng.

EOSIO is an open source blockchain protocol that includes the ability to create smart contracts and decentralized applications.

Unlike Ethereum, it uses a modelconsensus "Delegated proof of stake" (Delegated-proof-of-stake, DPoS). With this consensus, mining power is “delegated” to selected nodes. These representatives produce blocks in accordance with a mechanism for the regular election of new producers, called supernodes.

According to the developers of EOS, their blockchain network is able to virtually eliminate transaction fees and process "millions" of transactions per second.

Note that Huobi launched a bitcoin derivatives trading service in November.

Whiteblock researchers said in the fall,that during the tests it was established that in reality the EOS blockchain is not a decentralized network, but a cloud service with a bandwidth significantly lower than the declared values.

 

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