Why dYdX is leaving Ethereum and StarkWare for a native chain on Cosmos

The order book decentralized exchange, dYdX, is leaving the Ethereum blockchain to set up a native chain on the Cosmos ecosystem. The post Why dYdX is leaving Ethereum and StarkWare for a native chain on Cosmos appeared first on CryptoSlate.

Timeline of Cosmos, Dydx

Ethereum-based decentralized trading platform dYdX will be deployed as an independent blockchain on the Cosmos ecosystem. The team behind the project made the announcement this morning leading to a positive reaction for its governance token, DYDX.

dYdX, a famous crypto derivatives exchange, has announced that it will be developing dYdX V4 on a standalone Cosmos based blockchain and Tendermint Proof-of-stake consensus protocol. DYDX price up by 7% Exchange mentioned that it will feature a fully decentralized, orderbook, off chain, and matching engine.

dYdX says that by launching a new blockchain, it would make its offering more competitive and decentralized. The post dYdX to expand to its own blockchain in the Cosmos ecosystem appeared first on The Block.

Three Arrows Capital was an early investor of dYdX. The team at dYdX has released a statement clarifying that the project is unaffected by the financial situation facing Three Arrows Capital.

ATOM seemed to be flashing bullish signs after a strong downtrend kicked off last week. However, the market is now noting another crash, forcing ATOM to crash below its structural support.

The decentralized stablecoin of Maker is coming to Cosmos after a collaboration with the cross-chain protocol Umee so let's read more today in our latest cryptocurrency news. After Terra's $40 billion implosions a month ago, the Cosmos ecosystem is n the hunt for a new decentralized stablecoin.

Blockchain developer toolkit and the backbone of Web3 infrastructure, SubQuery, has integrated with the Cosmos-based sandbox environment Juno to launch data indexing services for the Cosmos blockchain network. This added support comes on the heels of SubQuery's recent beta version launch for the Avalanche blockchain ecosystem.

Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice. Since attaining its ATH early this year, Cosmos (ATOM) has exhibited a persistent bearish tilt.

ATOM fell towards a three-week low on Thursday, as crypto markets were victim to yet another red wave. Overall, markets are down nearly 5% as of writing, with GRT dropping by almost 10% lower on the day. Cosmos (ATOM) ATOM dropped towards a three-week low during Thursday's session, as global crypto markets were nearly 5%

The Cosmos Builders Foundation has reportedly introduced its federation of crypto-native organizations “collaborating toward a more vibrant, egalitarian, and resilient Interchain economy.” In coordination with the Interchain Foundation, the Cosmos Builders Foundation is focused on “supporting the maintenance and development of infrastructural public goods for.