DYDX Launches Cosmos Based Blockchain Network

DYDX is launching a private testnet of the Cosmos-based blockchain on March 28 and will be launched openly to some 3rd parties for the first time. While the decentralized exchange is going through the pains of moving from StarkEx, a layer 2 network on Ethereum built by StarkWare, to its own application-specific, blockchain in the Cosmos ecosystem, it is implementing a five-step plan that focuses on incremental testing before rolling out to the end user.

In the second phase, the exchange ran an internal testnet for its developers to check out all its core functions, and it was completed successfully. In the third phase, the company plans a private testnet that will act as a validator on the network, open to whitelisted third parties. This phase is planned to take 2-3 weeks, after which it is known that a public testnet will start.

During this special testnet, dYdX will focus on building validators and performing network upgrades. The validators will also have tested some of the main trading features of the exchange. dYdX also develops an iOS app, an Android app and a website. It also aims to connect the dYdX chain to other blockchains in the Cosmos ecosystem, using IBC, a way to send cryptocurrencies between Cosmos chains.