Between encryption token who make the best record performance over the past 24 hours, as the market continues its sideways movements, there is Cosmoswhich moves with risers in two digits thanks to the arrival of a major player in the world of crypto.
dYdXone of the leading derivatives platforms on cryptohas in fact announced that it will develop its own blockchain for its services, precisely choosing to rely on what is offered by Cosmos. A news that quickly made the rounds of crypto investors and prompted a large part of them to buy the reference token $ATOM.
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dYdX will have its blockchain via Cosmos Atom
dYdXone of major platforms of the crypto world concerning the trade of derivatives announced that it will have its own block chain and who will build it Cosmosone of the most popular solutions for those who wish to develop their own projects, even large ones.
One of the main advantages of Cosmos is that the chain can be developed to meet the specific needs of the dYdX network. One of the benefits is that traders will not pay commissions for trades, only based on trades that will be executed, like what happens with the dYdX V3.
This is the comment of the groupewho is not the first and will not be the last to choose the services offered by Cosmos for the development of its own blockchain. A passage which, again according to what is reported by dYdX should do the network fully decentralized by the end of the year.
Another defection also on the pitch Ethereumhowever, which is more than understandable now that the competition has become much fiercer and now that several protocols are offering customized and specific solutions, with greater scalability and reduced costs.
Not an easy path, which will certainly impact the financial future of Cosmos
The path of dYdX, the developers themselves admit, it will not be easy at all. We will indeed be confronted with significant burdens for those who will have to develop the V4 and to whom will have to test such an environment critical for those who use it, where even a few tenths of a second can make the difference between a successful trade and a losing trade.
With V4 which, among other things, will be entirely Open source and without permissions, without any of the services being managed in this way closed de dYdX Trading Inc.the company behind this powerful and much-loved derivatives trading.
The success of this ambitious project, at least in our opinion, will certainly have an impact on the price and popularity of Cosmos ATOMwhich despite the good run of the last few hours is still very far from its historic highs reached during the 2021. Which, however, is common with the rest of the industry. Among the protocols they will be able to overcome with greater ease this complex time for the crypto world, we believe that Cosmos is one of the best equipped to do so.