Solana

DeFi

Zeta Markets has unveiled Zeta X (ZX), which is the novel DeFi Layer 2 solution based on Solana and created for decentralized trade. ZX seeks to provide the functionality of centralized exchange (CEX), but still stay as Decentralized Finance that allows users to have full control over their funds, their transactions will be transparent, and free from hacking. 
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 1/ We’re thrilled to unveil the Litepaper for Zeta X (ZX), introducing the first-ever DeFi Layer 2 on <a href="https://twitter.com/solana?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">@solana</a>. ZX is crafted to scale and redefine decentralized trading, matching CEX-like performance, yet on-chain. Powered by <a href="https://twitter.com/search?q=%24Z&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener">$Z</a>. 🧵 <a href="https://t.co/qVige7hm16" target="_blank">pic.twitter.com/qVige7hm16</a>— Zeta Markets | $Z is coming 🔥 (@ZetaMarkets) <a href="https://twitter.com/ZetaMarkets/status/1793697553449714169?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">May 23, 2024</a>
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The current trading layer of the ZX appchain comprises an off-chain zkVM-compatible matching engine implemented in Rust. Thanks to this innovation, ZX can process up to 10000 transactions per second (TPS) with a delay of only 3-5 milliseconds, indicating that it has high performance comparable to centralized exchanges. Customers will be able to engage in 1-click trading without having to sign every transaction. 
Zeta Markets v2, regarded as the leading fully on-chain central limit order books (CLOB) in DeFi, has successfully executed more than $7 billion worth of trading volumes and is home to over 100,000 traders. 
ZX is expected to launch on the mainnet in Q1 2025, which creates higher expectations for on-chain trading and DeFi applications with increased scalability. 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 Also Read: <a href="https://www.cryptotimes.io/2024/05/24/former-ftx-ceo-held-in-oklahoma-despite-judges-request/" target="_blank" rel="noreferrer noopener">Former FTX CEO Held in Oklahoma Despite Judge’s Request</a> 
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Zeta Markets Launches ZX: A DeFi Layer 2 on Solana

The Crypto Times

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