Spark has launched a fully on-chain orderbook for Ethereum using layer-2 chain Fuel Network technology.
A press statement states that as decentralized finance sees a comeback, Spark has introduced its on-chain order book for the Ethereum ecosystem to offer quick execution for advanced retail, institutional, and professional traders.
An order book is a digital list of buy and sell orders organized by price range. With the help of this tool, traders can see the prices at which other users intend to buy or sell assets.
Spark pointed out that the requirements of high-frequency and algorithmic trading have proven difficult for the order books that are already in place, which are driven by centralized exchanges and automated market makers.
According to the protocol, its Central Limit Order Book, or CLOB, system resolved this problem. Vitali Dervoed, CEO and co-founder of Spark:
With full visibility into order depth and liquidity, users are protected from risks like front-running and manipulation, while enjoying the security of self-custody. Unlike centralized exchanges, Spark ensures users have complete control over their assets, making it an ideal platform for traders prioritizing security, transparency, and efficiency.”
Backing Spark’s co-founder, Fuel Network CEO Nick Sway remarked that the decentralized protocol aims to set a new benchmark for fast-paced blockchain precision and scalability on Ethereum, the largest on-chain smart contract ecosystem in decentralized finance.
After the chain’s mainnet debut on October 16, Spark’s CLOB mechanism went online on Fuel’s L2 network. One of the earliest decentralized protocols to use the new Ethereum layer-2 scaling technology was Spark.
