In the world of decentralized exchanges (DEX), the shift to Cosmos has become a trend, as dYdX, a leading DEX platform, announces its plan to leave Ethereum due to slow transaction speeds.

dYdX will launch a private testnet on March 28th and test it for 2-3 weeks. The project will then move on to a public testnet in late July, with the goal of running entirely on Cosmos by the end of September.

@azcoinnews

According to Natha Cha, head of marketing at dYdX, the main reason for the move is that Ethereum can no longer meet the platform’s scaling needs. “We have reached the point where Ethereum can no longer process transactions fast enough,” he said.

This is the second project to announce a move from Ethereum to Cosmos, with SushiSwap, a decentralized exchange, also taking similar action after acquiring the Vortex Protocol trading platform on Cosmos last month.

Developers considered various network solutions, including Solana and Layer 2 solutions, before deciding that Cosmos was the best option. “We came to the conclusion that Cosmos is a better choice because we can customize the blockchain to our needs. Now we can process transactions faster,” said Cha.

The Cosmos network allows developers to create their blockchain through the Cosmos Software Development Kit (SDK). Although each blockchain on Cosmos is different, they are all part of the same ecosystem and can interact with each other.

The move to Cosmos highlights the challenges of the Ethereum network’s transaction speed, which has become an issue for many DeFi platforms that have gained popularity recently. dYdX’s shift to Cosmos signals a new chapter in the world of DEX, as developers seek out more efficient solutions to overcome network limitations.

#Dydx #Cosmos #Ethereum #DeFi #azcoinnews

This article was republish from azcoinnews.com

L1 blockchain Nibiru will start NIBI token sales on CoinList on February 1, 2024. The token supply of this public offering is 60 million NIBI tokens (4% of the total supply); price 0. $05, unlock 10% around February 26, 2024, and then linearly unlock for 12 months; the initial purchase limit is as low as $50 and as high as $2,000 (USDT/USDC only).The #Dydx token DYDX will unlock 33.33 million pieces (about $89.33 million) at 8:00 on February 1, accounting for 10.63% of the circulating supply.Sam Kazemian, the founder of Frax Finance, plans to launch its Layer2 blockchain Fraxtal in February. The current tentative time is the first week of February.The Gnosis Chain Chiado test network will be forked at 2:15:40 on February 1st. The EIPs to be implemented include EIP-1153, EIP-4788, EIP-4844, EIP-7516, EIP- 5656, EIP-6780, etc. The most important function of this upgrade is to support blob (EIP-4844 Proto-Danksharding), which will enable the L2 chain to expand and provide a cheaper data layer.#ethereum side chain #SKALE posted that SKALE Chain Pricing has been launched on the main network, and SKALE Chain Pricing is the second stage of the three strategic stages of SKALE's economic model transformation. SKALE does not charge end-user gas fees, and pays for the verification node and pledgeer by charging for the use of the chain. This stage aims to make the pricing of the SKALE chain reach the level of the validator hardware profitability, and set the target load price, that is, when the network load is 70%, each chain pays $1 million worth of SKL tokens per year. The pricing is in a sliding ratio, and the first payment will be 2 It will be held on the 1st of the month.The deadline for the Uniswap Foundation to recruit the Uniswap V4 front-end development team is February 1, the allocation time is February 15, and the project start time is February 16. Individuals and teams can apply.NTT Digital, a Web3 subsidiary of Japanese mobile operator giant NTT Docomo, launched the Web3 wallet scramberry, and the V1.0.0 version will be launched in February.The Philippine regulator's ban on unregistered exchanges will take effect in February, and Binance, OctaFX and MiTrade face the ban.#Pond held an online event with the theme of "All About Encrypted AI from Infrastructure to Basic Model" at 12:00 on February 1, Beijing time. The host is David Ma (AllianceDAO Research and Core Contributor) and other guests package Including Yubo (CEO of Parallel Finance), Saneel (founded team member of Ritual), Bill (CTO of Pond), Anirudh (core developer of The Graph).#Acala token ACA will unlock 27.43 million pieces (about $2.23 million) at 15:00 on February 1, accounting for 3.1% of the circulating supply.