The San Francisco-based blockchain-start-up 0x has partnered with the Israeli company StarkWare to develop a StarkDEX solution, with which decentralized exchanges can process about 500 transactions per second. It is reported by CoinDesk .
The StarkDEX technology is based on a zero-knowledge proofs system of evidence. According to representatives of the Israeli startup, their development will contribute to the development of "scalable non-case-based trading."
A representative of 0x, Matt Taylor, noted that since launch in 2017, $ 713 thousand transactions had passed through his platform. According to data from 0xtracker , up to 3,100 transactions per day are currently carried out on protocols using the 0x decentralized exchanges.
According to Taylor, these indicators are far from the desired and in general decentralized exchanges are still low-liquid. This problem is largely due to bandwidth limitations.
“The market, where only three transactions per second can be carried out, is extremely illiquid ,” said StarkWare head Yury Kolodny.
However, the StarkDEX technology is still at the alpha testing stage, and therefore, I'm sure, “it will take months” to prepare it for mass implementation.
Recall last fall, the startup StarkWare attracted $ 30 million investment . Intel Capital, Sequoia, Atomico, DCVC, Wing, Consensys, Coinbase Ventures, Multicoin Capital, Collaborative Fund, Scalar Capital and Semantic Ventures contributed to the project. Pantera, Floodgate and AngelList co-founder Nawal Ravikant also participated in the round.
Prior to this, last May, StarkWare had already managed to attract $ 6 million in investment from Bitmain, Polychain, Floodgate, the creator of Ethereum, Vitalik Buterin, and Coinbase co-founder Fred Ersam.
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