Life just got easier for Polkadex validators and users. The project recently announced an upgrade to its code. It’s the binary release. Polkadex announced the launch of Polkadex v5.0.0.
The Polkadex V5.0.0 upgrade includes all the code needed for the chain and its validators to run the:
Polkadex Orderbook v2
THEA,
the Polkadex parachain connection.
The new Polkadex binary release is large in size and scope. V5.0.0 works like previous versions. You do not need to start from scratch when setting up a node. Some validators will simply need to download the new Binary code. And replace it. As per an official release, the steps are listed below,
The process is also simple for those running a node on OnFinality. Once the Polkadex v5.0.0 is available on OnFinality, the process gets easy. All they have to do is
select ‘Actions’ in their OnFinality dashboard.
Then select ‘Change Image’ and select v5.0.0.
Validators should ensure that their nodes meet the necessary hardware requirements before updating. This is to prevent any potential problems once they are running v5.0.0. Furthermore, validators should update to v5.0.0 as soon as possible. Polkadex expects the entire network to have updated to V5.0.0 before June 19th.
Polkadex Focuses on More Updates
As mentioned earlier, the V5.0.0 update creates the path for a list of other important updates on Polkadex, such as,
The Polkadex Orderbook v2 update: Polkadex Orderbook v2 significantly decentralizes the Orderbook architecture. It will move crucial operations like
trade settlement,
balance snapshots,
recovery from the centralized operator to the distributed collection of 200 Polkadex validators.
2. THEA: THEA is the Polkadex network’s interoperability layer. It serves as the central point of entry and exit for assets from other blockchains. It’s the way to enter and exit Polkadex. THEA uses Polkadex validators to safely connect assets from other networks. And later this year it will add support for Ethereum tokens.
3. The connection to the Polkadex parachain. While waiting for XCM channels to open up between the respective parachains, connecting the Polkadex parachain to the Polkadex network will enable trading of tokens from across the Polkadot ecosystem on the Polkadex Orderbook.
source : Polkadex
The Biggest Launch on Kaizen
Polkadex recently released the most significant update to Kaizen, the Polkadex testnet. The introduction of the testnet is a significant step toward the planned launches of
THEA,
the Polkadex parachain,
the Polkadex solochain,
the Polkadex Orderbook v2 on the Polkadex mainnet,
the Polkadex Crowdloan rewards.
On the frontend side, Polkadex users will get to play around with the Orderbook. In addition, you should be able to test the user interface for THEA. Some of the skilled Polkadexers will get to see the Polkapool backend implementation in the latest Kaizen release. Finally, Polkadex Crowdloan contributors will be able to have a test run-through of the PDEX rewards claiming process.
The Orderbook v2
Orderbook v2 is the primary upgrade to Kaizen. Orderbook v2’s user interface will be quite similar to v1’s in appearance and feel. But it’s an entirely different powerhouse. Polkadex successfully created a non-custodial order-book-based exchange in VI. The VI could scale to high-frequency trading speed. But the technology had its limitations. So, v1 was secure but not an optimal solution.
The VI Orderbook made the Polkadex Orderbook more dependent on the operator. But the V2 corrects that. The V2 is a client-side, validator-run program (order book-worker). The Orderbook v2 ensures that Polkadex validators keep trades and balances up-to-date.
Polkadex plans to release more upgrades. And updates to make it easier for its validators and users. Visit Polkadex for more community information.
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The information discussed by Altcoin Buzz is not financial advice. This is for educational, entertainment, and informational purposes only. Any information or strategies are thoughts and opinions relevant to the accepted levels of risk tolerance of the writer/reviewers and their risk tolerance may be different than yours. We are not responsible for any losses that you may incur as a result of any investments directly or indirectly related to the information provided. Bitcoin and other cryptocurrencies are high-risk investments so please do your due diligence. This article has been sponsored by Polkadex. Copyright Altcoin Buzz Pte Ltd.
