Spark has leveraged Layer 2 on-chain Fuel Network technology to introduce a fully on-chain order book for ethereum.
According to a press release, Spark has eth/mFWsfujdndHeG1O4mDhGZQgjDXc3FGmmc7c91jUaYMo” target=”_blank” rel=”nofollow”>launched its on-chain order book for the ethereum (eth) ecosystem to provide fast execution for professional, institutional and advanced retail traders as decentralized finance experiences a resurgence.
An order book is a digitized list of buy and sell orders arranged by price levels. This tool allows traders to observe the prices at which other users plan to purchase or sell assets.
Spark noted that existing order books powered by automated market makers and centralized exchanges have struggled to meet the demands of algorithmic and high-frequency trading. The protocol stated that it addressed this issue with its Central Limit Order Book, or CLOB, system.
With full visibility into order depth and liquidity, users are protected against risks such as early execution and manipulation, while enjoying the security of self-custody. Unlike centralized exchanges, Spark ensures that users have full control over their assets, making it an ideal platform for traders who prioritize security, transparency, and efficiency.
Vitali Dervoed, CEO and co-founder of Spark
Backing Spark co-founder, Fuel Network CEO Nick Sway commented that the decentralized protocol aims to set a new benchmark for fast-paced blockchain accuracy and scalability on ethereum, the on-chain smart contract ecosystem. largest in decentralized finance.
Spark's CLOB mechanism went live on Fuel's L2 network following the chain's mainnet launch on October 16. Spark was one of the first decentralized protocols to deploy its product on ethereum's new layer 2 scaling solution.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter“/>
