A breakthrough modular blockchain platform, Dymension, is setting the stage for developers to build bespoke application chains. Operating with the RDK infrastructure, it aims to bolster connectivity within the RollApps ecosystem. The platform is gearing up for its listing on Binance, raising curiosity about its native DYM coin and the intricacies of purchasing it.
Dymension’s Unique Blockchain Infrastructure
Crafted on the Cosmos SDK, Dymension is a primary Layer 1 Blockchain network that easily integrates with the Cosmos ecosystem. This modular system permits individualized updates and maintenance, ensuring continuous evolution. It implements a Proof of Stake (PoS) consensus secured by Tendermint software, affording a seamless interface for both users and developers.
The Dymension project is an extension of RollApp technology, allowing for the tailoring of Rollup Chains through the Dymension RDK. It orchestrates transactions via a Sequencer, where users must stake DYM coins to process their transactions. Dymension Hub consolidates transactions and connects network nodes using the Tendermint Core model, enhancing collective service efficiency.
Capabilities and Trading Security on Dymension
A defining characteristic of Dymension is its low-cost execution environment, supporting various data storage and execution frameworks. It employs Optimistic Rollup and Fraud Proof protocols to authenticate transactions. The platform allows for smooth asset transfers between RollApps and Layer 1 networks using the IBC Bridge, with security checks performed by the Dymension Hub.
Featuring rapid transactions averaging 0.2 seconds and a potential throughput of 20,000 TPS, Dymension outlines a transaction process that includes order execution on RollApps, verification by the Sequencer, and block formation with subsequent confirmation by the Dymension Hub.
Trading and Governance with DYM Coin
The DYM coin serves as the backbone of the Dymension network, facilitating transactions and enabling governance through user voting. An Automated Market Maker ensures its liquidity. As of February 6, 2024, the total supply of DYM coin is fixed at 1 billion, with the full amount currently in circulation.
For those interested in acquiring DYM coins, Binance will offer them on February 6, 2024, across several trading pairs. Prospective buyers must register on Binance, deposit funds, and then proceed to trade DYM via their preferred trading pair, completing the transaction through a buy order on the platform’s interface.