All crypto traders will agree that one major drawback to the entire ecosystem at the moment is centralized exchanges. Companies such as Coinbase rake in billions of dollars through inflated fees and commissions on what should theoretically be a decentralized peer-to-peer network. Crypto exchange Bitfinex is planning to alleviate this problem with a decentralized exchange of its own.
According to Coinmarketcap, Bitfinex is the world’s fifth largest exchange with just under a billion dollars traded in the past 24 hours. In an announcement yesterday, the company introduced the first high-performance decentralized exchange to be built on EOS.IO technology.