DeversiFi 2.0 DEx Incorporates StarkWare’s StarkEx Scalability Engine
DeversiFi 2.0 DEx Incorporates StarkWare’s StarkEx Scalability Engine
June 4, 2020
DeversiFi 2.0 DEx Incorporates StarkWare’s StarkEx Scalability Engine
DeversiFi 2.0 DEx Incorporates StarkWare’s StarkEx Scalability Engine
June 4, 2020

The DeversiFi decentralized ethereum exchange or DEx relaunched as DeversiFi 2.0 on June 3, incorporating Starkware’s StarkEx scalability engine, utilizing zkSTARK layer-2 scaling technology.

The new platform will be able to process over 9,000 transactions per second while maintaining privacy, liquidity and low fees in a non-custodial solution.

Starkware’s layer-2 solution utilizes Zero Knowledge Proof technology, bringing scalability to non-custodial trading.

It achieves this by processing trades in batches and then submitting a single proof for each batch consuming a small fraction of the Ethereum blockchain resources that standard on-chain processing would require.

Starkware President Eli Ben Sasson explained:

“Commercial grade Defi needs robust cryptography and zkSTARKs are fastest in class, post-quantum safe and can easily scale to tens of thousands of transactions per second with no trusted setup … We are excited to see traders embracing self-custodial trading without sacrificing liquidity or speed”

Integration of the technology into DeversiFi 2.0 will bring instant settlement, deep liquidity and withdrawal certainty to the exchange.

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DeversiFi CEO Will Harborne adds:

“This StarkWare integration will transform the functionality of DeversiFi 2.0. The solutions born out will address the key issue of scalability – but without the usual traditional sacrifices of liquidity, speed, settlement and fees.”

DeversiFi has also assembled a Data Availability Committee, including participants such as ConsenSys and Bitfinex, as part of the relaunch.

The role of the committee is to retain a copy of the updated account balances and publish this, if DeversiFi and Starkware go offline enabling customers to withdraw funds directly from DeversiFi’s Ethereum smart contract.

Withdrawal certainty will enable decentralized traders to plan their next trades, reassured that their withdrawals will happen.

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The platform also features native integration of Ledger wallets.

Ledger CEO Pascal Gauthier comments:

“With DeversiFi 2.0 bringing the speed of ZKStarks and the security of Ledger to traders, it’s clear that this second iteration of the platform is the next step in decentralized finance.”

DeversiFi is the first DEX to integrate zkSTARK technology.

Source: Cointelegraph | Image: Unsplash


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Jafrin Ahmed

Crypto newbie passionate about creating resourceful content on blockchain technology, cryptocurrencies and decentralized apps.