fbpx
The Daily Chain
No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List
No Result
View All Result
The Daily Chain
No Result
View All Result
Home All News

IDEX 2.0 Rollup Shows in the Demo it Can Solve Ethereum Scaling Issues

Wayne Jones by Wayne Jones
6th December 2019
3 min read
0
IDEX 2.0 Rollup Shows in the Demo it Can Solve Ethereum Scaling Issues
1
SHARES
0
VIEWS
FacebookTwitterLinkedinTelegramEmailWhatsapp

IDEX 2.0 Demo launches ahead of Ethereum’s Istanbul Hard Fork intends to keep the trading platform competitive. On December 5, IDEX, which is one of the most popular decentralized exchanges in the world, opened a public beta of its new platform, which introduces some big changes.

IDEX 2.0, dubbed “Optimized Optimistic Rollup,” contains some interesting features users can take advantage of. The platform will introduce a massive increase in off-chain transactions, making it theoretically possible to achieve unlimited off-chain scaling without increasing the on-chain settlement costs. 

The newly designed rollup keys will unlock the Ethereum computation by storing data it off-chain and further projecting it through the network in another form called Merkle root. 

This will allow ETH to earn unbounded scalability as the number of transactions posted in the Merkle Root is very small. 

During the platform demo, developers will get a better idea of how viable this approach is and whether more improvements will be needed. There will also be some changes to the staking of IDEX tokens, because of the introduction of optimistic rollups. 

Alex Wearn, co-founder and chief executive officer of IDEX, said that the revamped version 2.0 trading venue is set to make the exchange considerably faster and cheaper to use. He added that the platform would provide token traders with more mainstream trading experience.

Can IDEX 2.0 Solve Ethereum’s Scaling Problems?

IDEX 2.0’s version of optimistic rollups, will roll out several powerful functionalities projected to resolve scaling issues that all decentralized exchanges face, such as speed, cost, and liquidity.

The DEX team revealed that they’d redesigned the platform and laid the foundation to handle hundreds of thousands of transactions per second and provide advanced trading features previously inaccessible on DEXs.

They further explained that the 2.0 Rollup venue builds on IDEX’s current hybrid design to allow for unlimited off-chain scaling with a fixed on-chain settlement cost, eliminating the logjams and costs that have inhibited DEX adoption to date. 

Additionally, the new Rollup scheme will rely on a combination of cryptographic fraud proofs and a validator system with well-designed economic incentives.

This implies that IDEX 2.0 will entail validators staking IDEX tokens to monitor and secure the platform’s optimistic rollup transactions. Participants will then be paid a portion of IDEX’s transaction fees as a reward for their service.

Ethereum on the Verge of Major Breakthrough 

Ethereum could be on the verge of a breakthrough with this new version of IDEX exchange, which promises to be a solution that makes “infinite scalability” possible. This comes just as the Ethereum Istanbul hard fork reaches its climax for December 7 kickoff, providing increased decentralization, scalability, and security for the network.

Tags: EthereumIDEXscalability
Share1TweetShareShareSendSend
Wayne Jones

Wayne Jones

Wayne is a Blockchain enthusiast and expert in crypto trading. Currently, I cover trendy issues on digital currencies.

Related Posts

Bitcoin
All News

Grayscale exploring exposure to various DeFi tokens

28th February 2021
America’s IRS looking a lot closer at crypto transactions in 2020 tax returns
All News

SEC’s exam division releases ‘risk alert’ – highlighting concerns around regulatory compliance

27th February 2021
China-CBDC-scam
All News

Chinese Police issue warning about CBDC scam promising access to $186M Government Fund

27th February 2021
Nicolas Maduro-Petro-Digital bolivar
All News

Nicolas Maduro says a digital currency “surprise” is coming

26th February 2021
Elon Musk holding DOGE
All News

Will SEC Investigate Elon Musk’s Impact on Dogecoin?

26th February 2021
BTC Price Eyes Worst Weekly Slide since March Of 2020
All News

BTC Price Eyes Worst Weekly Slide since March Of 2020

26th February 2021
Next Post
Ripple

Is XRP a Security? Ripple says No as it dismisses Sostak Lawsuit

US Expected To Lose the Race to Central Bank Digital Currency Race

US Expected To Lose the Race to a Central Bank Digital Currency

Please login to join discussion
  • All News
  • Editor's Picks

Grayscale exploring exposure to various DeFi tokens

SEC’s exam division releases ‘risk alert’ – highlighting concerns around regulatory compliance

Chinese Police issue warning about CBDC scam promising access to $186M Government Fund

Nicolas Maduro says a digital currency “surprise” is coming

Will SEC Investigate Elon Musk’s Impact on Dogecoin?

Join our newsletter!

Enter your email to receive our newsletter.


Don’t worry, we don’t spam
ADVERTISEMENT

Popular Posts

  • ‘Crypto for Congress’ initiative to send $50 of BTC to US Congress members

    Whale Alert flags over 13000 BTC moved off Coinbase

    0 shares
    Share 0 Tweet 0
  • Coinbase publicly reveals it has held Bitcoin on its Balance Sheet since 2012

    0 shares
    Share 0 Tweet 0
  • Bitcoin sold as low as $6,100 due to a Glitch – Crypto Exchange demands it back

    0 shares
    Share 0 Tweet 0
  • MIT announces 4-year project that seeks to strengthen the Bitcoin Network Security

    0 shares
    Share 0 Tweet 0
  • Canadian Bitcoin ETF attracts over $400mln in investments in 48 hours

    0 shares
    Share 0 Tweet 0

Market Updates

BTC Price Eyes Worst Weekly Slide since March Of 2020

BTC Price Eyes Worst Weekly Slide since March Of 2020

26th February 2021
BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K

BTC Market Endures Bias Conflict: Why BTC Prices are Wobbling Around $50K

25th February 2021
CoinShare Lists an Ethereum Traded Product on SIX Swiss Exchange

CoinShare Lists an Ethereum Traded Product on SIX Swiss Exchange

24th February 2021

Media

hashoshi-alts (2)

Altcoin Season Picks / Projects with Huge Potential

9th September 2020
cardano-ADA

Hashoshi: Cardano Shelley is live… but what’s next is WAY BIGGER

19th August 2020
hashoshi-alts

Hashoshi: Low Cap Alts you need to be watching in 2020

5th August 2020
fomohunt-podcast

FomoHunt Podcast – Joe Vezz & Jon Farjo: Tracking Social Sentiment Waves with Lunar Crush

30th July 2020
ethereum-hashoshi

Hashoshi: Ethereum 2.0, Chainlink, Bitcoin Price, and more!

27th July 2020
fomohunt-podcast

FomoHunt Podcast – Joe Roets: Behind the scenes of “Open source money”

24th July 2020
The Daily Chain

The Daily Chain is a news platform and educational hub founded in January 2019. We are dedicated to providing unique and informative daily content across all facets of the blockchain and cryptocurrency industry whether it be news, opinion pieces, technical analysis, reviews, interviews, podcasts and more.

LEARN MORE »

Recent Posts

  • Grayscale exploring exposure to various DeFi tokens
  • SEC’s exam division releases ‘risk alert’ – highlighting concerns around regulatory compliance
  • Chinese Police issue warning about CBDC scam promising access to $186M Government Fund
  • Nicolas Maduro says a digital currency “surprise” is coming

Information

  • About
  • Contact
  • Site notice
  • Risk Warning
  • Privacy Policy

Categories

  • News
  • Markets
  • Features
  • Education
  • Media
  • Reviews

TheDailyChain © 2020. The Home of Digital Assets

No Result
View All Result
  • News
    • All News
    • Assets
    • Bitcoin
    • Business
    • Editor’s Picks
    • Technology
  • Markets
    • Market Updates
    • Live Cryptocurrency Market Prices
    • Press Release
  • Features
    • Articles
    • Opinion
    • Interviews
    • Quiz
  • Education
    • Blockchain
    • Trading
    • Investing
    • Safety
  • Media
    • Video
    • Podcasts
  • Reviews
  • Asset List

TheDailyChain © 2020. The Home of Digital Assets

At The Daily Chain, we are committed to protecting the personal data of our audience.
In light of the General Data Protection Regulation, we are asking our audience in Europe to consent to the use of cookies by The Daily Chain and its partners to continue to our site. These cookies are used to personalize your user experience (content and ads) and support and improve the site. Please click “I Agree, Continue to Site” below to consent to the use of this technology and continue to TheDailyChain.com. Visit our Privacy Statement to learn more. Cookie settingsAgree, continue to site
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are as essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled

Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.

bitcoin
Bitcoin (BTC) $ 44,851.00 6.40%
ethereum
Ethereum (ETH) $ 1,361.42 9.09%
cardano
Cardano (ADA) $ 1.24 11.29%
tether
Tether (USDT) $ 1.01 0.35%
binance-coin
Binance Coin (BNB) $ 211.80 8.03%
polkadot
Polkadot (DOT) $ 31.04 12.96%
xrp
XRP (XRP) $ 0.415495 6.52%
litecoin
Litecoin (LTC) $ 161.32 8.91%
chainlink
Chainlink (LINK) $ 24.02 8.38%
stellar
Stellar (XLM) $ 0.398146 13.05%
Newsletter

Join our newsletter!

Enter your email to receive our newsletter.

Don't worry, we don't spam