DEX protocol dYdX to build its own blockchain

DEX protocol dYdX to build its own blockchain
фото показано с : coinjournal.net

2022-6-23 23:51

Decentralized exchange platform dYdX has announced plans to build a standalone blockchain, according to details the Ethereum Layer-2 protocol shared on Wednesday.

dYdX, one of the largest crypto derivatives platforms in the market today, says it intends to build the new chain based on the Cosmos SDK (software development toolkit). 

For transaction processing, the dYdX V4 will utilize the Tendermint proof-of-stake (PoS) consensus protocol.

A ‘fully decentralized orderbook’ and higher throughput

“dYdX V4 will feature a fully decentralized, off-chain, orderbook and matching engine capable of scaling to orders of magnitude more throughput than any blockchain can support,” the platform noted in a blog post.

While the team at dYdX plans to transition the DEX protocol into one of crypto’s biggest exchanges, they acknoelwdge the enormity of that ambition and the magnitude of how difficult it could be. However, led by co-founder Antonio Juliano, they are confident of successs.

“Developing a decentralized off-chain orderbook and moving from Ethereum to a dYdX-specific chain as a major DeFi protocol is very much untested, but we believe this gives dYdX the best shot at offering a competitive product experience with centralized exchanges,” the team said in a Twitter thread.

dYdX V4 will have a Layer1 token native to the chain, though the team says it hasn’t settled on the DYDX token as the community will need to have an input on that.

The $DYDX token would seem to be a natural fit to be used as the layer 1 token of the V4 network, but we look forward to understanding the perspective of the dYdX community

— dYdX (@dYdX) June 22, 2022

According to the platform, the plan is to build dYdX and open source it by the end of 2022.

The post DEX protocol dYdX to build its own blockchain appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Dark.Build (DARK) на Currencies.ru

$ 0 (-0.04%)
Объем 24H $0
Изменеия 24h: 6.32 %, 7d: -9.40 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Цена в час новости $ 13.99 (-100%)

build blockchain dydx dex own protocol coinjournal

Источник: coinjournal.net

build blockchain → Результатов: 126


Фото:

IOTA Build a Proof-of-concept for Self Balancing Smart Grids

On the IOTA blog, Harm van den Brink discussed a proof of concept they had built for a smart self-balancing grid using IOTA. Letting Devices Take Responsibility The proof of concept designed by den Brink lets devices connected to a smart grid “decide if they want to help balance or not” and if they do they […] IOTA Build a Proof-of-concept for Self Balancing Smart Grids was originally found on Cryptocurrency News | Blockchain News | Bitcoin News | blokt.com.

2019-1-13 15:59


Sheepcoin ICO

“In Blockchain We Trust” is the official motto of the Sheepcoin. The problem of mutual trust has existed for thousands of years because of the nature of trade transactions in which goods are exchanged and it takes both time and effort to build trust; with the inclusion of reliability one of the key features achieved using blockchain technology vast improvements will occur.

2019-1-5 03:33


Фото:

Crypto Rout Extends to Institutional Investors as Bitcoin Plans Put on Hold

Institutional investors and developers in the Bitcoin space are increasingly looking to the exit after 2017’s crypto-mania is coming to a halt in terms of price. Once lauded to usher in the next wave of crypto products, financial heavyweights are stalling efforts to build infrastructure around the pioneer cryptocurrency, reported Bloomberg on December 23, 2018.

2018-12-25 04:00


Filmio ICO (FILM / FAN Token): Blockchain TV, Film And Entertainment?

What Is Filmio? In the Filmio ecosystem, creators can easily connect with fans to build a strong and supportive audience and to acquire meaningful statistics around emerging projects. Besides, Filmio embraces a fan-fueled review and rating system that generates the Go Score, which is the first of its kind metric for pre-validating great projects. As fans […]

2018-12-12 10:57


Coinbase CTO Affirms The Crypto Company Will Not Trademark The Word “BUIDL”

Some rumors have surfaced recently affirming that Coinbase was considering trademarking the world “BUIDL”, which has been a popular term for building something on the blockchain. The term, which derives from a conscious misspelling of the world build, just like people use HODL instead of “hold”, has been used many times. The term is, in […]

2018-12-8 01:29


Фото:

Switzerland says its national blockchain will be more secure than Bitcoin – it won’t be

Switzerland‘s state-run postal and telecoms services are hellbent on building a national blockchain in a bid to recruit local businesses to convert to distributed ledger technology (DLT). Swiss Post and Swisscom have shared details of joint-venture to build a completely private Swiss blockchain for launching locally operated “decentralized” applications.

2018-12-6 14:11


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Adaptive IBC: Extending IBC to All Blockchains

The interchain is the internet of blockchains - an ever-expanding ecosystem of interconnected, blockchain-based apps and services. Powered by the Interchain Stack, the interchain boasts over 100 IBC-enabled chains.