{"id":6042,"date":"2023-10-27T12:29:09","date_gmt":"2023-10-27T12:29:09","guid":{"rendered":"https:\/\/coinengineer.io\/blog\/?p=6042"},"modified":"2023-10-27T12:29:09","modified_gmt":"2023-10-27T12:29:09","slug":"dydx-announced-layer-1-network-active","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/dydx-announced-layer-1-network-active\/","title":{"rendered":"dYdX Announced: Layer 1 Network Active!"},"content":{"rendered":"<p>Popular DeFi platform <strong>dYdX<\/strong> had announced that it would establish a new <strong>Layer 1 network<\/strong> on the <strong>Cosmos<\/strong> infrastructure in the last period. Today, an exciting development took place; their new network have moved to the \u201calpha mainnet\u201d phase. This also means that dYdX has started the dYdX version 4 phase.<\/p>\n<blockquote><p>You might like: <a href=\"https:\/\/coinengineer.net\/blog\/ftx-made-a-transfer-of-millions-of-dollars-to-binance\/\"><em><strong>FTX made a transfer of millions of dollars to Binance!<\/strong><\/em><\/a><\/p><\/blockquote>\n<p>dYdX is the largest among decentralized derivative trading platforms and now it is taking place on the Cosmos ecosystem by launching its own Layer 1 network. With this transition, it emphasizes that the project will achieve a fully decentralized structure. Additionally, it will use more than 60 validators for network security, marking an important step in ensuring user security.<\/p>\n<p>However, there is another notable point after this exciting development: The value of <strong>DYDX tokens<\/strong> has decreased after the announcement. Despite the general rise in the crypto market in the last few days, this altcoin lost its value due to the effect of the announcement. However, if the new network attracts interest among users, it is hoped that its token may gain similar momentum in value.<\/p>\n<hr \/>\n<p><em>In the comment section, you can freely share your comments and\u00a0 opinions about the topic. Additionally, don\u2019t forget to follow us on\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>Telegram<\/strong>,\u00a0<\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\"><strong>Twitter<\/strong><\/a>\u00a0for the latest news and updates.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Popular DeFi platform dYdX had announced that it would establish a new Layer 1 network on the Cosmos infrastructure in the last period. Today, an exciting development took place; their new network have moved to the \u201calpha mainnet\u201d phase. This also means that dYdX has started the dYdX version 4 phase. You might like: FTX<\/p>\n","protected":false},"author":2,"featured_media":6041,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[1581,351,93,1029,2199,2200,197,2198],"class_list":["post-6042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-atom","tag-cosmos","tag-defi","tag-dydx","tag-dydx-layer-1","tag-dydx-token","tag-layer-1","tag-layer-1-network"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>dYdX Announced: Layer 1 Network Active! - Coin Engineer<\/title>\n<meta name=\"description\" content=\"Popular DeFi platform dYdX had announced that it would establish a new Layer 1 network on the Cosmos infrastructure in the last period.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/dydx-announced-layer-1-network-active\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"dYdX Announced: Layer 1 Network Active! 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