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Cryptocurrency exchange Bitfinex to add support for IOTA token trading
Leading cryptocurrency exchange Bitfinex has announced that it will be adding support for IOTA (IOT) exchange trading on its platform, effective June 13.
The support will be added via two trading pairs – IOT/USD and IOT/BTC. In the forthcoming days, margin trading for IOT pairs will be enabled as the order book develops suitable liquidity, Bitfinex said.
“Bitfinex has followed IOTA since its earliest stages of development and supports the project’s innovative approach toward a blockless distributed ledger. We believe the underlying technology can lead to a new ecosystem of applications built upon this decentralized and self-regulating peer-to-peer network”, it added.
Through its core invention “Tangle”, IOTA claims to be the first distributed ledger protocol that goes beyond blockchain. According to the website, Tangle is a revolutionary new “blockless” distributed ledger which is scalable, lightweight, and for the first time ever makes it possible to transfer value without any fees.
“The IOTA Tangle is a Directed Acyclic Graph which has no fees on transactions and no fixed limit on how many transactions can be confirmed per second in the network; instead, the throughput grows in conjunction with activity in the network; i.e., the more activity, the faster the network”, Bitfinex explained.