BTC PULSE
No Result
View All Result
Play Now
No Result
View All Result
BTC PULSE
No Result
View All Result
Play Now
Home Blockchain

dYdX Leaps Towards Decentralization: Publishes Open Source Code of Its New Cosmos-Based Blockchain

by Dan K
Oct 26, 2023 - 3:30 pm
in Blockchain
China’s financial authorities evaluate launching yuan-backed stablecoins through state-owned entities

dYdX Embraces Open-Source: Unveils Code of New Blockchain

In a significant stride towards achieving comprehensive decentralization, dYdX, a prominent crypto exchange, has revealed the open-source code for its forthcoming Cosmos-based blockchain. This revelation encompasses a myriad of components such as protocol, order book, and interface, elucidating the exchange’s robust strategy for transitioning towards a new technological paradigm.

Paving the Way for Mainnet Launch

The objective behind the publication of the code is to lay down a solid foundation for the impending launch of the main network. This meticulous effort is spearheaded by the dYdX Decentralized Autonomous Organization (dYdXDAO) SubDAO on Operations. The innovative team at dYdX is in the process of inaugurating a revolutionary blockchain that leans on the sturdy architecture of Cosmos (ATOM).

A Shift Towards True Decentralization

As part of this transformative journey, dYdX envisages the decentralization of the exchange’s order book, thereby shifting the protocol away from the confinement of the development team. This will facilitate a genuine decentralization process, veering away from its current reliance on the StarkEx solution, which operates as the second layer of Ethereum (ETH).

Empowering the DeFi Community

The newly unveiled code is a beacon that invites DeFi enthusiasts from across the globe to contribute and manage the dYdX infrastructure. This signifies a pivotal shift where, post the completion of the mainnet launch, the dYdX development team will relinquish control, ensuring that the infrastructure does not remain tethered to a singular entity.

dYdX’s Mainnet Launch: A Phased Approach

Though the official date for the mainnet launch remains undisclosed, dYdX has elucidated a phased approach towards this monumental unveiling. An alpha phase, brimming with opportunities for token holders to stake their tokens and reap staking rewards, has been proposed, despite trading functionalities remaining in limbo during this phase.

Steering Away from Ethereum

dYdX’s decision to migrate away from Ethereum stems from a quest for enhanced scalability. The launch of a test network in March 2023 marked the beginning of this transformative journey, enabling development teams to craft their networks with the assistance of Cosmos SDK tools. This pivot allows for the creation of independent blockchains, each capable of seamless interaction, thus overcoming the scalability hurdles that beleaguered their Ethereum-based operations.

Tags: BlockchainDeFiExchange
Dan K

Dan K

Dan K, the chief editor, is a visionary wordsmith, shaping narratives with finesse. His discerning eye for detail creates literary masterpieces.

Related Posts

Exterior view of the Czech National Bank building in Prague, symbolizing the institution’s financial strategies and innovation.

Bank of England Governor Says Stablecoins Could Reduce Reliance on Banks

October 1, 2025

Andrew Bailey says stablecoins could reduce UK reliance on commercial banks by separating money from credit, signaling a...

blockchain

Spacecoin Executes First Blockchain Transaction Through Space

October 1, 2025

Spacecoin has achieved the first-ever blockchain transaction through space using a nanosatellite, marking a milestone for decentralization and...

The headquarters of the Autorité des Marchés Financiers (AMF) Investor in Paris, France, the regulatory body warning investors against ByBit.

French Officials Pressured Telegram to Censor Moldova Election Posts: Durov

September 28, 2025

Pavel Durov revealed French intelligence pressured Telegram to censor Moldova election content in 2024, which he refused, citing...

Wall Street financial district with Bitcoin symbol representing institutional adoption

Bitcoin skepticism fades as nations gear up for adoption, says Samson Mow

September 28, 2025

Samson Mow predicts nation-states will move from skepticism to rapid Bitcoin adoption, fueling global FOMO and a rush...

View All
BTC-Pulse LogoTransparent

© 2024 BTC-PULSE. Disclaimer: The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.

Info

  • Learn
  • Price Prediction
  • Events
  • Press Releases
  • Sitemap

Company

  • About Us
  • Terms of Service
  • Privacy Policy
  • Contact Us
  • Advertise

News

  • Altcoins
  • Bitcoin
  • Ethereum
  • NFT
  • Regulation
  • WEB 3.0

©2024 BTC-PULSE – All right Reserved.

No Result
View All Result
  • About Us
  • Advertise
  • BTC-PULSE
  • Contact Us
  • Events
  • Privacy Policy
  • Sitemap
  • Terms of Service