Most successful DEX launches its own blockchain

Currently still on the Ethereum blockchain, dYdX is the largest decentralized exchange for derivatives trading. Now they are happy to announce that they are launching their own blockchain based on Cosmos SDK and Tendermint consensus protocol. This is another step towards the complete decentralization of the dYdX protocol.

Cosmos technology facilitates the creation of an autonomous and interoperable blockchain. In this way, dYdX offers a unique combination of decentralization, scalability and adaptability into the future.

Each Cosmos blockchain traditionally has its own validators and tokens. $DYDX, the native token of the exchange protocol, is therefore best suited to be used as a token on the v4 standalone blockchain.

Visit the official dYdX homepage and learn more.

dYdX relies on decentralization and open source code

The existing dYdX protocol processes approximately 10 transactions and 1,000 placed and canceled orders per second. The fundamental problem with existing blockchains is that it is impossible to achieve this on-chain throughput.

Additionally, an order book-based protocol is imperative for many professional traders and institutions. Ultimately, dYdX is unhappy with previous off-chain backlogs and corresponding engines. These were either too centralized or inefficient to match.

For this reason, the powerful and professional exchange will offer a fully decentralized off-chain order book and matching engine. With the help of Cosmos, you can achieve extremely high throughput for the order book with simultaneous decentralization. As if that were not enough, trading is even done without transaction fees.

The protocol is community controlled with $DYDX

dYdX welcomes radical technological changes that improve the protocol with open arms. For this reason, dYdX V4 will be a fully sovereign blockchain. This means that it does not depend on an external blockchain or system.

This gives $DYDX owners full control over the system. Whether developing additional features such as spot trading, options or multi-collateral, or improving the underlying technology, the community will now control all aspects and can create the best product experience. possible.

Since its inception in 2017, the protocol has seen impressive growth and risen to the top of decentralized derivatives exchanges. This is largely the case because the decentralized and blockchain-based nature of the exchange makes it virtually immune to crypto crackdowns.

Via dYdX, users can trade leveraged cryptocurrencies without having to trust a centralized authority. The goal is to develop open source code that enables a first-class product and trading experience. In this way, dYdX wants to become the largest exchange in the crypto world.

Visit the official dYdX homepage and learn more.