Ethereum

Changer

Hydranet

Discord

Berlin, Germany, September 25th, 2023, Chainwire 
<a href="https://hydranet.ai/?utm_source=Chainwire&amp;utm_medium=Article&amp;utm_campaign=Mainnet" rel="noopener noreferrer nofollow" target="_blank">Hydranet</a>, known for its expertise in off-chain trading, just released the <a href="https://hydranet.ai/en/download?utm_source=Chainwire&amp;utm_medium=Article&amp;utm_campaign=Mainnet" rel="noopener noreferrer nofollow" target="_blank">Hydranet DEX</a>, a Layer 3 trading platform that integrates multiple off-chain protocols to enable trustless, cost-effective and near-instant cross-chain trading. The Hydranet DEX made its official debut as a mainnet beta on September 23, 2023, following more than a year of dedicated development. The release signifies a major milestone in the project’s history, whose future promises even more groundbreaking developments. 
<blockquote> 
 I am really proud of us. We have evolved from a small project to a currently #700 mature DeFi project with a great 2023/24 roadmap ahead. – Joe Park, project manager of Hydranet 
</blockquote> 
Hydranet presents their DEX as a Layer 3 trading platform that connects the Bitcoin and Ethereum ecosystems (including all off-chain compatible Ethereum Virtual Machine (EVM) networks), allowing users to trade seamlessly between them. By their use of off-chain protocols, such as the Lightning and Connext Vector technologies, crafted into a single solution that allows these protocols to interact, Hydranet has made it possible to trade between fundamentally different blockchains with virtually no fees, near-instantly, and, most importantly, in a trustless manner, as users will always retain full control of their funds. 
Off-chain protocols play a pivotal role in this solution and refer to a set of rules, specifications, and frameworks that define the standards and procedures for conducting transactions outside the blockchain using what is commonly known as state channels. Unlike on-chain transactions, which necessitate miners’ confirmations, off-chain transactions are distinguished by their instant transaction times, minimal-to-no transaction fees, high level of privacy and trustless operations. These attributes make off-chain transactions particularly useful for microtransactions, frequent interactions, and scenarios where real-time responsiveness is crucial. 
<img decoding="async" src="https://cryptonewsland.com/wp-content/uploads/2023/09/dexSchema_1695349357RaAuMqp2qx.jpg">Recognizing the benefits of off-chain protocols, Hydranet has undoubtedly taken advantage of them in creating a solution that will meet the long-standing demand for a cost-effective trading platform capable of bridging fundamentally different blockchains without compromising security, integrity, and scalability. This trading platform is now available as a downloadable desktop client from Hydranet’s <a href="https://hydranet.ai/en/download?utm_source=Chainwire&amp;utm_medium=Article&amp;utm_campaign=Mainnet" rel="noopener noreferrer nofollow" target="_blank">official website</a>. 
The platform comprises a self-custodial&nbsp;wallet, a state channel management interface, and an order book for trading on its Layer 3 exchange. Trades on the exchange are secured using Hashed TimeLock Contracts (HTLC) which guarantees that they are completed in accordance with what is agreed upon, or not completed at all if either one of the trading parties attempts to manipulate the trade. Below is a video showcasing a mainnet Bitcoin to Ethereum trade using the latest version of the Hydranet DEX. 
<iframe src="https://www.youtube.com/embed/ZgbZOjo5WT4?showinfo=0"></iframe> 
The Hydranet DEX is currently hosting a set of four trading pairs to start off with: 
<ul> 
 <li>aETH – BTC</li> 
 <li>BTC – aUSDT</li> 
 <li>HDN – aUSDT</li> 
 <li>ETH – BTC</li> 
</ul> 
These trading pairs effectively bridge the Bitcoin, Ethereum and Arbitrum (denoted as ‘a’) blockchains and highlight the capabilities of the trading platform. Adding support for other trading pairs and networks is said to be as easy as adding a few lines of code. 
With all the excitement surrounding this new type of trading platform and how it will develop in the future, Hydranet emphasizes that this is only the beginning of the Hydranet DEX cross-chain future and more news is coming. 
Users can learn more about Hydranet and the Hydranet DEX at <a href="https://hydranet.ai/?utm_source=Chainwire&amp;utm_medium=Article&amp;utm_campaign=Mainnet" rel="noopener noreferrer nofollow" target="_blank">Hydranet’s official website</a>.&nbsp; 
Users can Join Hydranet’s <a href="https://discord.gg/hydranet" rel="noopener noreferrer nofollow" target="_blank">Discord</a> and <a href="https://twitter.com/TheHydranet" rel="noopener noreferrer nofollow" target="_blank">Twitter</a> to stay updated on their announcements. 
About Hydranet 
<a href="https://hydranet.ai/?utm_source=Chainwire&amp;utm_medium=Article&amp;utm_campaign=Mainnet" rel="noopener noreferrer nofollow" target="_blank">Hydranet</a> is a Decentralized Autonomous Organization building the world’s first Layer 3 off-chain decentralized exchange. With a commitment to trustlessness, efficiency, and scalability, their vision extends beyond the confines of traditional on-chain exchanges. Hydranet is active on Discord, Twitter, Telegram, Facebook, Medium, YouTube and Instagram. 
<h5>Contact</h5> 
Nico McFinity Hydranet contact@hydranet.ai 
The post <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com/hydranet-launches-layer-3-dex-a-game-changer-for-trustless-cross-chain-trading/">Hydranet Launches Layer 3 DEX: A Game Changer for Trustless Cross-Chain Trading</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://cryptonewsland.com">Crypto News Land</a>.

Hydranet Launches Layer 3 DEX: A Game Changer for Trustless Cross-Chain Trading

Crypto News Land

Other articles published on Sep 25, 2023

OpenAI announces ChatGPT will soon ‘see, hear, and speak’

Will Crypto Ever Recover?

Upbit to List GLMR and Support GLMR/BTC Trading Pair!

Decentralization and Bitcoin Can Help in the Crypto Downturn

2-day countdown to meme crypto killer, Memeinator presale

Justin Sun and his company get approved more time in SEC fight

Join our free newsletter for daily crypto updates!