From decentralized exchanges (DEX) one who dYdXin a statement today Ethereum (ETH) announced that he was leaving the network.
Leaving Ethereum Cosmos (ATOM) dYdX announced that it has launched its V4 private testnet on Tuesday, March 28.
This transition of dYdX will follow a five-phase plan focused on incremental testing.
The private testnet for dYdX starting tomorrow will run for two to three weeks. After that, a public testnet will be launched by the end of July.
“We are back with another update on our progress on the dYdX V4 Blockchain and we are excited to announce that we have completed the third of five milestones!
The dYdX Private Testnet is scheduled to start on 28.03.2023 and will take 2-3 weeks.”
We are back with another update regarding our progress building out the dYdX V4 Blockchain; we are excited to announce the completion of our third of five milestones! You can read more at: https://t.co/WlWdZHQy2k
— dYdX (@dYdX) March 27, 2023
During tomorrow’s private testnet, dYdX will focus on building validators and performing network upgrades. The validators will also test some of the main trading features of the exchange.
dYdX cited the lack of scalability in Ethereum and slow transaction speeds in Ethereum as the reason for the transition from Ethereum to Cosmos.
Nathan Cha, dYdX’s marketing leader, said:We have reached a point where Ethereum cannot process transactions fast enough” said.
By the end of September, dYdX will be fully cosmos expected to be working on it.
dYdX also develops an iOS and Android app and website. dYdX aims to connect the blockchain to other blockchains in the Cosmos ecosystem using IBC, a way to send tokens between Cosmos chains.
*Not investment advice.
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