The alpha build of the third version of Uniswap, the world-leading DEX, has been spotted within Ethereum network’s layer two scaling solution, the Optimistic Ethereum. It was this Tuesday, July 13, when Uniswap announced that its long-awaited layer two scaling solutions upgrade would make its alpha debut on the Optimistic Ethereum mainnet. Notably, Uniswap described the v3 as a crucial step in the future scaling of all DeFi applications.
According to Uniswap’s announcement, Optimistic Ethereum will support the v3 by supplying an initial throughput of about 0.6 transactions per second while still on its Alpha phase – aligning its transaction capabilities with the present Ethereum. That may be, Uniswap stressed that transactions on Optimistic Ethereum have no stuck swaps or pending. Everything would proceed smoothly and instantly.
Experts believe that the v3 could represent a significant development for the highly popular DEX, which is currently Ethereum network’s most prominent consumer of gas, according to ETH Gas Station. In the past month, Uniswap has reportedly spent approximately 1,500 ETH, or about $2.9 million, on transaction fees alone.
While many would surely feel excited about the v3, it is best to remember that it is still being deployed by the developers gradually to specifically address any issues that may pop up, thus, its Alpha state. That being said, Uniswap elaborates that both Uniswap v3 and Optimistic Ethereum still need further rigorous testing, but the potential for greatness is there.