dYdX Parts Ways With Ethereum, To Launch Its Own Standalone Blockchain

dYdX Parts Ways With Ethereum, To Launch Its Own Standalone Blockchain
HeadlinesNewsdYdX Parts Ways With Ethereum, To Launch Its Own Standalone Blockchain

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dYdX Parts Ways With Ethereum, To Launch Its Own Standalone Blockchain

Crypto Daily™6 days ago
Published on June 23, 2022 11:51 GMT+00:00edited on June 25, 2022 00:39 GMT+00:00

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dYdX has announced its intention to leave Ethereum, making the announcement in a blog post on its website. After leaving Ethereum, the protocol will focus on creating its own chain in the Cosmos ecosystem. Against this backdrop, derivative DEXs are still figuring out the best way to structure their protocol. 

A New Standalone Blockchain, The dYdX V4

dYdX believes that migrating away from Ethereum and working on its standalone blockchain would allow the protocol to be significantly more efficient and increase its processing capacity by at least 10. The blog post revealed that the new chain would also not feature gas fees, instead featuring only trading fees. The team at dYdX also expects the move to improve the protocol’s decentralization and processing capacity …