The post COBINHOOD launches IDG-backed decentralized DLT platform DEXON appeared first on CoinReport.
Popular cryptocurrency trading platform COBINHOOD has announced plans to launch a new decentralized exchange platform (DEX) with financial backing from IDG Capital.
From CEX To DEX
Cryptocurrency exchange COBINHOOD recently released plans for a brand new decentralized cryptocurrency trading platform called DEXON. This new project has significant financial backing from investment firm IDG Capital, which currently handles over $ 20 billion USD in assets.
DEXON aims to become a big player in the banking industry and newly emerging decentralized application (dApp) ecosystem. The DEXON team is boasting an infinitely scalable architecture through a block latticed data structure, in which multiple blockchain systems work together in parallel. This system allows for much quicker transaction speeds than traditional linear blockchain systems.
As some cryptocurrency exchanges are adding new altcoins, tokens and forks all the time, cashing in on massive listing fees from promoters, the need arises to trim the fat ever so often. Now Cobinhood is removing a few, offering a glimpse on how trading venues decide which tokens to cull.
Changes to Token Listings
Taiwan-based cryptocurrency service platform Cobinhood has recently announced a number of changes to its roster of available trading instruments. The following tokens will no longer be supported on the exchange: Funfair (FUN), Gnosis (GNO), ICONOMI (ICN), Santiment (SAN), Substratum (SUB) and Voise (VOISE). Depositing, trading, and all open orders will be cancelled automatically on April 13, 2018.