Controversial cryptocurrency exchange HitBTC has recently announced it has upgraded EOS to a quote currency on its platform, and as such introduce trading pairs based on it, a move that’ll likely improve its liquidity.
The announcement came via Twitter, where HitBTC revealed it’s launching EOS-based pairs with XRP, Litecoin (LTC), Monero (XMR), Dash, and Bytecoin (BCN).We are officially upgrading @eos_io’s EOS to a quote currency at HitBTC! EOS will be available to trade against $XRP, $LTC, $XMR, $DASH, $BCN, and many other currencies, starting from 12 September, 15:00 UTC. pic.twitter.com/h2rqidITII— HitBTC (@hitbtc) September 12, 2018
The move comes after the company added Euro-pegged stablecoin EURS to its platform, and listed the first “crypto euro to crypto dollar” trading pair. The exchange is well-known for quickly adding new cryptocurrencies, and currently has eight quote currencies: Bitcoin (BTC), Ethereum (ETH), Tether’s USDT, TrueUSD (TUSD), Dai, EURS, and EOS.
EOS is notably a controversial cryptocurrency as its consensus mechanism has seen various critics claim it’s centralized. The cryptocurrency has 21 block producers (BPs) – similar to miners on Bitcoin’s blockchain – that have been criticized for reportedly having too much power.
Although BPs are continuously elected in EOS, the enormous centralization of EOS token holdings effectively sees whales exert their disproportionate influence over who may be elected. Moreover, those elected seem to have power that some argue doesn’t belong in a cryptocurrency’s blockchain.
As CryptoGlobe reported, the 21 BPs were ordered to freeze 27 accounts earlier this year by the EOS Core Arbitration Forum (ECAF), a body set to resolve community disputes. The move was so controversial EOS’ architect and Block.one CTO Dan Larimer proposed a new constitution.
The cryptocurrency is currently one of the most liquid in the crypto ecosystem. It’...