Decentralized and open source, dYdX introduced the dYdX v4 protocol, which takes its previous versions a step further.
Crypto projects continue to announce their new developments, keeping pace with the increasing crypto adoption. Many crypto projects are focused specifically on ecosystem and community development.
Decentralized crypto startup dYdX has proposed dYdX v4, an advanced protocol that will consist of three main components. This protocol makes previous versions more efficient and useful.
dYdX on Stage with dYdX v4!
Decentralized crypto project dYdX has introduced its new protocol, dYdX v4.
Having an open source structure, previous versions of dYdX operated with smart contracts and centralized services hosted in the cloud. With this new protocol, it is planned to break the existing habits.
The new protocol dYdX v4 is designed as a standalone layer-1 blockchain. In this way, dYdX v4 includes an on-chain order book and matching engine.
The dYdX Chain will be shaped by the robustness of the Cosmos SDK and the CometBFT PoS consensus protocol. He stated that the architecture of this new system is still under development and that there may be changes in the details.
dYdX v4 Architecture
Decentralized and open source, dYdX stated that the dYdX v4 protocol will consist of three main components. These three components stand out as protocol, indexer and interface.
Written in GO language, the dYdX v4 protocol includes support for two types of nodes, validators and full nodes. In addition, it is planned to offer Web2-friendly efficiency with the Indexer service.
Wanting to make it easier for users to access the decentralized experience, dYdX offers the new protocol an open source interface to Web, iOS and Android platforms.
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