A “Complete Rebuild” & Ethereum Scaling Solution

IDEX, the non-custodial cryptocurrency exchange that’s facilitated more than 41 percent of all Ethereum DEX transactions over the past month, has unveiled the features coming to its revamped version 2.0 trading venue.

Characterizing the effort as a “complete rebuild” in a press release shared with Blockonomi, the IDEX team said the new-look platform will roll out several powerful functionalities under the hood, not least among them a new off-chain matching engine and an embrace of a version of optimistic rollups, a novel scaling solution that is getting increased attention around Ethereum.

The retooling is set to make the exchange considerably faster and cheaper to use so as to provide token traders with a more mainstream trading experience, said Alex Wearn, co-founder and chief executive officer of IDEX:

“DEXs don’t have to be slow, expensive, or limited in functionality. We’ve always envisioned a future where DEXs offer the same experience as their centralized counterparts. We’ve rearchitected our platform and laid the groundwork to handle hundreds of thousands of transactions per second and provide advanced trading features previously unavailable on DEXs. The release of IDEX 2.0 closes the gap as we continue to innovate and deliver the best experience for our users.”

Toward Many More Transactions Thanks to Optimistic Rollups

IDEX 2.0’s version of optimistic rollups, dubbed “Optimized Optimistic Rollup,” was further explained in a separate blog post published by the project on Thursday.

“[The O2 Rollup system] builds on IDEX’s current hybrid design to allow for unlimited off-chain scaling with a fixed on-chain settlement cost, removing the bottlenecks and costs that have inhibited DEX adoption to date,” the IDEX team said.


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Specifically, the exchange’s O2 Rollup scheme will rely on “combination of cryptographic fraud proofs and a validator network with well designed economic incentives,” meaning the new system will entail validators…

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