March 28 will launch a private testnet based on Cosmos and the Tendermint consensus protocol.
Decentralized exchange (DEX) dYdX is in the process of transitioning from StarkEx, an Ethereum-based L2 network created by StarkWare, to its own Cosmos-based blockchain. This is a five-phase plan that focuses on incremental testing before final rollout.
In the second phase, dYdX launched an internal testnet for developers to test all the main features of the new blockchain. At the third stage, a private test network will be created, open to third parties included in the whitelist – they will act as validators. In the future, the exchange plans to deploy a public testnet in July, and conduct a full launch in September.
“dYdX V4 is a fully sovereign blockchain. It does not depend on any external networks or systems. It is a community platform that allows vertical integration to continue, with protocol token holders in full control of the platform,” reads the description of the solution being developed.
dYdX will focus on validators and network upgrades
During the private testnet, validators will test the functionality of the network, including exchange trading. Among the tools implemented by the project team for this phase, it is worth noting extended order types, dynamic funding rates.
dYdX also intends to link its blockchain with other networks in the Cosmos ecosystem using a standardized Inter-Blockchain Communication Protocol. IBC provides a secure exchange of data between independent blockchains, and allows them to scale through sharding and using sidechains for various applications.
