DYdX to launch decentralized order book exchange on Cosmos: KBW 2023

Decentralized exchange (DEX) platform dYdX plans to provide a “purely decentralized” order book exchange as it moves its ecosystem from the Ethereum network to the interchain network Cosmos.At the Korea Blockchain Week 2023, Cointelegraphs Andrew Fenton spoke with dYdX Foundation CEO Charles dHaussy about the DEXs strategies to execute decentralized order books on the exchange and how it plans to move its environment to a brand-new blockchain network. DHaussy highlighted that dYdX is taking a “brand-new step forward” in decentralization by making the order book decentralized. “And thats one solution, which well use to basically use to the market a simply decentralized order book exchange,” he explained.Related: 40% of crypto trading platforms are decentralized: World Federation of ExchangesApart from the decentralized order book, dHaussy spoke about dYdXs move to Cosmos. “DYdX is not expanding, dYdX is moving.

According to dHaussy, users will barely observe the change, which will be very smooth. Users will just require to connect their MetaMask wallets to the brand-new dYdX chain, adding that dydx will “take care of all the heavy lifting.” Publication: Web3 Gamer: Crypto video games require viral minute, Nitro Nation evaluation, Axies task Greenlight

Decentralized exchange (DEX) platform dYdX prepares to use a “purely decentralized” order book exchange as it migrates its ecosystem from the Ethereum network to the interchain network Cosmos.At the Korea Blockchain Week 2023, Cointelegraphs Andrew Fenton consulted with dYdX Foundation CEO Charles dHaussy about the DEXs strategies to implement decentralized order books on the exchange and how it prepares to shift its community to a brand-new blockchain network. Guests at the Korea Blockchain Week 2023, kept in Seoul, South Korea. Source: CointelegraphIn the interview, dHaussy told Cointelegraph that a person of the problems faced by DEXs is the sluggish performance of on-chain order books. Order books for DEXs had actually to be taken off-chain to cater to the requirements of the users due to the fact that of this problem. He explained:” If you have like a one-second block time, you still have a one-second latency. And the marketplace of crypto derivatives is a really high-frequency market. So, you can not provide one-second latency.” DHaussy highlighted that dYdX is taking a “new advance” in decentralization by making the order book decentralized. According to the executive, the order book will not be on the dYdX chain since it will still be sluggish, but it will rather be hosted within the validators. “So, the architecture option by dYdX engineers is to decentralize the order book, without including it on-chain due to the fact that it will be too slow. The choice was made to essentially host the order book within the memory of the validators,” dHaussy added. DHaussy believes this method is a “new thing within the space.” The executive explained that validators generally validate blocks and produce new blocks with a set of deals. He also stated the validators will still do this on the dYdX chain however will also keep order books in their memory. “And thats one service, which well utilize to basically offer to the market a purely decentralized order book exchange,” he explained.Related: 40% of crypto trading platforms are decentralized: World Federation of ExchangesApart from the decentralized order book, dHaussy discussed dYdXs transfer to Cosmos. “DYdX is not expanding, dYdX is migrating. The Ethereum exchange will close within a couple of months [ …] we are migrating the complete community,” he discussed. v4 Adoption & & DYDX Token MigrationThe dYdX community has actually voted in assistance of v4 Adoption and a prospective DYDX Token Migration ❗ ✅ ~ 36M DYDX from 392 addresses ❌ ~ 43 DYDX from 4 addresseshttps:// t.co/ FBLMZATURn pic.twitter.com/RwyOaDwpe4— dYdX Foundation (@dydxfoundation) September 3, 2023