Bankless dYdX Abandons Ethereum?! with Founder, Antonio Juliano
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Jun 29, 2022 Antonio Juliano, the founder of dYdX, shares insights about his company's bold move from Ethereum to a standalone blockchain within the Cosmos ecosystem. He discusses the decision's implications for decentralization and user experience, emphasizing a focus on product development over blockchain loyalty. Juliano highlights the challenges of building a decentralized exchange, ambitions for market share, and the importance of community involvement. He also delves into the complexities of staking and the risks tied to increased centralization in the crypto landscape.
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DYDX V3 vs. V4
- DYDX's V3 system blends decentralized smart contracts with centralized order books and matching.
- V4 aims for full decentralization by shifting to a Cosmos-based chain.
Decentralization Bottleneck
- System decentralization is limited by its least decentralized component.
- Building on Cosmos maximizes decentralization for DYDX's unique needs.
Order Book Focus
- DYDX prioritized an order book model due to its success with institutional traders.
- These traders prefer the familiar order book experience found on centralized exchanges.