Crypto Blog
Prominent decentralized crypto derivatives exchange dYdX has unveiled the open-source code for its upcoming version 4. The new dYdX Chain – based on the Cosmos SDK and Tendermint Proof-of-stake consensus protocol – is expected to offer transactions of up to 2,000 per second.
While exploring options for the trading model, dYdX contemplated various avenues, including alternative trading models like Automated Market Makers and Request for Quote systems. However, they ultimately recognized that an orderbook-based protocol was essential to meet the demands of experienced traders.
Each validator in dYdX v4 will run an in-memory orderbook that remains off-chain and is never committed to consensus. Orders placed and cancellations will be moved through the network in a manner akin to normal blockchain transactions. In a statement, dYdX Trading founder and CEO Antonio Juliano said the latest dYdX Chain software release represents the “full decentralization of dYdX” and is a big step on the protocol’s mission to “democratize access to financial opportunity.”David Gogel, VP of Strategy and Operations at the dYdX Foundation, said the Cosmos ecosystem allowed them “to build a custom chain specific to our use case, which is around trading high-velocity products.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Beyond Code: The Visionary Role of Blockchain DevelopersThe role that blockchain developers play in shaping the blockchain ecosystem
Read more »
The Blockchain Can Create a Greener Future for AIArtificial intelligence is one of the biggest technology trends in history, so the industry must ensure that it has an optimal head start.
Read more »
Why Blockchain Projects MUST Use Crypto Marketing AgenciesBy combining the strengths of targeted ads, compelling content, expert guidance, you can increase your project's visibility, credibility, and user engagement.
Read more »
WOW Summit Dubai 2023: A Massive Success Shaping the Future of Blockchain TechnologyWOW Summit Dubai 2023: A Massive Success Shaping the Future of Blockchain Technology
Read more »
Promising Jurisdictions to Open Blockchain Business: Short ListHere's how to choose the best jurisdiction for your cryptocurrency project in 2023 — and why virtual state might be smart bet
Read more »
Blockchain E-Ticketing Platform UTIX Announces Major Exchange Listing on BitMartCrypto Blog
Read more »