DYdX Decentralized Exchange Integrates StarkWare Scaling Solution
The dYdX decentralized exchange has partnered with the StarkWare project to integrate its scaling technology, writes The Block.
“Our team is collaborating on a tier 2 scaling solution for perpetual contracts based on StarkWare’s StarkEx scaling engine and dYdX perpetual smart contracts,” the developers said..
It is expected that the implementation of transactions using the ZK-Rollups technology through StarkEx will reduce the amount of gas consumed, thereby reducing the load on the entire blockchain. As a result, users will be able to use the exchange to trade for smaller amounts..
Prior to this, the StarkWare scaling solution was integrated by the DeversiFi exchange, but adding it to dYdX will be the first large-scale test and will help attract the attention of other decentralized services. DYdX trading volumes are growing steadily this year and amounted to $ 255 million in July.
Decentralized perpetual contracts for Bitcoin and Ethereum with up to 10x leverage are currently available on dYdX.
Previously, analysts noted that the rise in fees in the Ethereum network makes transactions on decentralized exchanges below a certain size impractical, and predicted a slowdown in activity in the decentralized finance (DeFi) space due to this factor..
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