DYdX exchange is going to advance itself to be with the growing technology. Charles d’Haussy, the Chief Executive Officer (CEO) of DydX exchange has recently announced a new update related to the exchange. He said that they are going to launch a decentralized order book exchange which would be a new and advanced addition to step ahead in growing technology Cosmos space.
dYdX is a Decentralized Exchange (DEX) platform which is now offering a new and pure decentralized order book exchange. dYdX is going to totally migrate its entire ecosystem from the Ethereum (ETH) network to another advanced interchain network named Cosmos.
dYdX’s Strategy to Launch Decentralized Order Book
Charles d’Haussy, the Chief Executive Officer (CEO) of DydX disclosed the details with a crypto journalist at Korea’s Blockchain Week 2023. He shares DEX’s strategic plans of expansion as taking a step forward and launching a decentralized order book exchange. Moreover, they are moving from the Ethereum network to a much more advanced blockchain network, Cosmos.
dHaussy talked about the necessity of this step as they are facing some technical issues. The current on-chain performance of order books is slow and that is the main cause of the decision. To address this problem, order books for DEXs had to be moved off-chain to better serve user requirements. dHaussy assured that this shift is going to be unique and a step forward in growing technology.
dYdX’s architectures have proposed to decentralize the order book instead of adding it to on-chain as that would slow it down. This decision was brought into the light to host the order book within the validator’s memory.
Apart from launching decentralized order books, dHaussy also spoke about moving from the Ethereum Network to Cosmos. He assured that this shift is not just an expansion but a migration to ease the users with better and more efficient access and experience.
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