BitFinex, in coordination with its decentralized trading platform EOSFinex, completed a chain swap to convert $5 million worth of Tether stablecoin onto EOS blockchain protocol. With this move, BitFinex aims to provide the EOS DApp ecosystem with a stable and liquid store of value to reduce the volatility factor.
EOSIO’s peer to peer micropayment infrastructure powers 49% of the 100 decentralized applications, including seven of the top 10 DApps with the highest transaction activity. The company aims to work with the EOS community to bring block irreversibility times down to 3 seconds and launch EOSFinex on the mainnet.
Earlier it was reported that from some time EOS blockchain protocol users have been experiencing intermittent problems with network access. The main cause of the problem is considered an inexpensive technique that allows hackers to congest the network. So far, this has allowed hackers to steal more than $110,000 in cryptocurrency from a leading gambling DApp on EOS.