Good news for those who actively and eagerly awaited the start of IOTA exchange trading on Bitfinex. The highly anticipated IOTA exchange trading is now live and began today, Tuesday, June 13, 2017 at around 1:00 p.m. UTC.
According to the Bitfinex update, IOTA is trading against USD and BTC. Margin trading for IOTA pairs is activated as soon as the order book develops adequate liquidity.
Before adding IOTA trading on the Bitfinex platform, several factors were considered and approved. Some of them include (but are not limited to):
- Design parameters
- A thorough assessment of the token’s development process
- Most users’ request
- The market capitalization;
Bitfinex also quoted the team behind the token, their strategies for solving technical and non-technical problems, as well as solving the scaling problems traditional blockchain technologies are currently facing.
With the known knowledge that the Internet continues to grow (and likely will continue to grow), the need for interoperability and resource sharing becomes necessary. IOTA enables companies to develop and explore new ecosystems of applications by turning any technological resource into a potential service for commerce.
Last week’s news about the start of IOTA exchange trading should be heeded. Bitfinex reportedly supports such innovations as it finds in Tangle, IOTA’s blockless distributed ledger that is both scalable and lightweight. The more users there are on the network, the faster it gets. In contrast to typical blockchains, the consensus is no longer decoupled; Instead, this is a very essential part of the system that leads to a decentralized and self-regulating peer-to-peer network.