Spark uses Fuel Network layer-2 technology for a full on-chain Ethereum order book.
Spark released a statement in which it stated that the company has launched Its on-chain Order Book for Ethereum (ETHThe decentralized financial system is enjoying a new era of growth.
Order books are digitized lists of sell and buy orders organized by prices. The tool lets traders see the price at which users are planning to buy or sell assets.
Spark stated that order books powered by automated exchanges and market makers have not been able to keep up with the high-frequency trading and algorithmic trading demands. This issue was addressed by the protocol’s Central Limit Order Book system, also known as CLOB.
Due to full visibility of order volume and liquidity, the users can be protected against risks such as front-running or manipulation while still enjoying self-control. Spark, unlike centralized exchanges ensures that users are in complete control of their assets. This makes it the ideal platform for traders who prioritize security, efficiency, and transparency.
Vitali Dervoed CEO of Spark
Fuel Network CEO Nick Sway, who is Spark’s cofounder, said that this decentralized protocol will set new standards for blockchain accuracy and scalability, especially on Ethereum. Ethereum has the biggest on-chain ecosystem of smart contracts in the world.
Spark’s CLOB system went live after the launch of Fuel’s network’s L2 on October 16. Spark was the first protocol to release its CLOB mechanism on Ethereum’s new layer-2 scaling solution.
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Source: crypto.news
