EOS Deposits and Withdrawals Enabled on Bitfinex After Exodus to EOSIO

EOS Deposits and Withdrawals Enabled on Bitfinex After Exodus to EOSIO

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Bitfinex users become the first ones to deposit and withdraw EOS tokens after the Token moved out of ERC20 blockchain to its own MainNet, EOS.IO. On June 1st, 2018 Block.one, the company behind EOS, distributed the last block of EOS token on the Ethereum blockchain after which all EOS tokens were frozen and the transfers of tokens were disallowed. The official announcement can be found here.

EOS holders share the excitement  

As the first user received his EOS deposit address on Bitfinex, the message was clear the Exodus to EOS.IO was complete enabling EOS deposit and withdrawal. Covering the first user reviews that came out gives us an interesting insight into how the MainNet is phasing out. Some prominent things to note were, EOS withdrawals from Bitfinex are completely free. Other important things that user noted were that the blockchain was blazing fast and needed 25 confirmations for the block to be created.  It was also noted that test deposit had over 1000 confirmations on the blockchain before it hit the “25” required on Bitfinex’s end. It took around 15 minutes for Bitfinex to credit the deposit

According to Blockchain EOS tracker stats, there are only 2519 EOS in the blockchain as people are not yet aware they can sell now. It also showed that no one had used the address yet.

Also, read: Bitfinex Allows EOS Token Holders to Directly Vote for Block Producers

With this launch, all the uncertainty around its launch seems to be subsided as this was the first time a company had expressed to launch a blockchain and there  was no guarantee that a new blockchain will be launched and would function flawlessly

The successful launch EOS mainnet will now be considered the first step toward a new generation of blockchain technology that will fundamentally affect how we interact with one another.

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EOS Deposits and Withdrawals Enabled on Bitfinex After Exodus to EOSIO
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EOS Deposits and Withdrawals Enabled on Bitfinex After Exodus to EOSIO
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Bitfinex users become the first ones to deposit and withdraw EOS tokens after the Token moved out of ERC20 blockchain to its own MainNet, EOS.IO.
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Nilesh Maurya 412 Articles

Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Reach out to him at Nilesh Maurya has been associated for past 8 years as an Investment Banker with Omega Capital, a bespoke Investment Banking outfit having offices in Mumbai, New York, Singapore, and Dubai. He has been a regular contributor to business publications such as Business India and Market Express and has been a mentor to many start-up companies. Reach out to him at [email protected]

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