Version 4 of dYdX and the alpha mainnet phase of the independent Cosmos blockchain have been officially launched.
This marks a significant transition to the new community-run blockchain for the popular decentralized cryptocurrency derivatives platform.
Today at 20:00 Turkey time, it was reported that dYdX Chain's genesis block was created by dYdX Chain validators and dYdX alpha mainnet was activated. This marks the first phase of the transition to dYdX version 4 and the new, community-driven Layer 1 blockchain and includes improvements across multiple testnets conducted throughout this year.
Charles d'Haussy, CEO of the platform's foundation, expressed his excitement about this milestone:
“After years of development, 60+ validators, and 5 testnets involving top trading firms, the dYdX Chain has been officially launched by the community and DAO.
“This represents a tremendous breakthrough for the dYdX ecosystem, representing a new chapter defined by complete decentralization.”
The main purpose of this alpha phase was determined to be stress testing the network. More than 60 authenticators have been deployed to ensure network security. A beta launch is planned, pending approval of the community governance vote, which will eventually enable trading on the network.
*This is not investment advice.