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The Chinese exchange of Bitcoin, Huobi, plans to establish an exchange based on the encrypted EOS currency. This must be done through its mining subsidiary Huobi Pool. The first EOS bag in the world will be launched in the first quarter of 2019.
The fact that the cryptography market is still dominated by the Bitcoin industry leader is reflected not only in its market capitalization. In the case of large cryptographic exchanges, Bitcoin, in particular, has until now served as a trading partner for "smaller" coins and tokens. Singapore-based Huobi encryption exchange is now planning a platform where everything revolves around EOS. The Huobi Group announced this in a press release dated 29 December.
Behind the project is the Exchange mining branch, Huobi Pool. The establishment of the EOS exchange is a "logical step" in the expansion of the EOS ecosystem:
"As EOS Supernode, Huobi Pool has put its ecological development at the top of its priority list",
explains Cao Fei, CEO of Huobi Pool, in the press release.
Huobi Pool is the largest block producer of the EOS network based on DPoS. EOS aims to create a sort of decentralized operating system capable of handling up to a million transactions per second. This must be made possible by the consent mechanism delegated to the stake test. In this case, 21 selected block manufacturers decide the status of the network.
The launch of trade could be a strong incentive for EOS liquidity and could also decrease its dependence on the price movements of bitcoins of peak cryptocurrency. This is what is called decoupling – in short, it is free from Bitcoin's influence: It is well known that most of the altcoins and their prices strongly depend on bitcoin price movements. Every time the bitcoin hibernates and goes into crisis, the altimetric blocks crash even more strongly.
EOS price so far not impressed
While EOS is highly favored by the Chinese government and regularly conducts its crypto rating, critics criticize the DPoS mechanism. Whiteblock has recently examined carefully EOS and noted that there is still a gap between the needs and reality of EOS – both in terms of potential TPS and in terms of decentralization. Whiteblock also criticized the role of block producers, who act as intermediaries in the network. As a result, I'm not just a central attack vector for hackers; due to the lack of information on the actual processing capacity of block manufacturers, it is not even certain that EOS tokens will map them one by one.
On the day the EOS exchange was announced, the EOS share price initially rose by more than 5% to 2.77 USD. The price of the EOS token was then quoted at a price of 2.77 USD per token. However, the price gains did not last 24 hours. Currently, the price of the fifth largest encrypted currency in terms of market capitalization is again moving below the value of 2.7 USD.
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