The crypto exchange Uniswap comes with a revolutionary update

The third quarter of 2024 marks that begin of Uniswap v4, a new era for decentralized exchanges. This upgrade promises seamless integration with the upcoming Ethereum (ETH) Dencun upgrade and the implementation of key Ethereum Improvement Proposals (EIPs).

These proposals include EIP-4788, EIP-1153 and EIP-4844. The result? Significantly more efficient operations and lower transaction fees will reshape the DeFi landscape, or at least that is the plan.

EIP-1153 as the key to efficiency

EIP-1153 marks a major breakthrough in Uniswap v4 by introducing temporary storage mechanisms. These pave the way for the optimization of smart contracts. This approach, often referred to as “flash accounting,” significantly reduces the computing power required for transactions. This reduces costs for users as transaction costs are lower.

By implementing flash accounting, EIP-1153 ensures a fundamental improvement in the efficiency and cost structure of digital currencies and decentralized finance. It is therefore a key component for increasing economic efficiency on the Ethereum network.

Flexibility meets functionality

With the introduction of “Hooks”, Uniswap v4 brings a significant change in the way rules and adjustments can be applied in the trading process, such as in pools, swaps, fees and other liquidity provider (LP) positions.

Hooks offer a new level of flexibility in smart contracts, resulting in lower costs and more efficient asset management for end users. The path to launching Uniswap v4 follows a series of rigorous testing processes. From internal assessments to audits by recognized third-party companies to a unique competition that community members can participate in.

Every step is aimed at ensuring the highest safety standards. According to the team itself, this rigorous approach promises to position Uniswap v4 as the most secure code ever deployed on the Ethereum network and provide peace of mind to users around the world.

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Uniswap founder destroys $650 billion

Hayden Adams, the founder of decentralized exchange Uniswap, made a dramatic move in 2023 by wiping out 99% of the HayCoin (HAY) supply, worth an estimated $650 billion. This decision arose from the need to ensure the stability of the currency against the backdrop of speculative trading activities that made prices unpredictable.

HayCoin was originally launched on Uniswap V1 in 2018 for testing purposes. There was an explosive price increase towards the end of 2023. Adams’ approach is intended to dampen market speculation surrounding HayCoin. Curiously, this led to a further increase in the value of the currency.

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