Skip to main content

Technical

Technical Architecture​

The technical architecture of the OpenEX Network is the foundation for realizing its vision of a high-performance, low-cost trading platform. The following sections detail the key technologies and principles that constitute this architecture.

Evolution of OpenEX's Technical Architecture​

OpenEX's initial intent and design philosophy have always been to create an open, efficient, and user-friendly next-generation Web3 trading platform. Guided by this goal, OpenEX's technical architecture has undergone a series of evolutions and optimizations, from its initial simple concepts to the complex and efficient system it is today.

Initial Design​

In the early stages of OpenEX, the technical architecture primarily consisted of a series of smart contract protocols combined with a Web3-style centralized matching engine. Although this design was simple, it already contained the rudiments and basic elements for future architectural evolution. Smart contracts provided a flexible and secure way to handle transactions and other on-chain activities, while the Web3 matching engine offered a relatively familiar trading experience to users.

OpenEX Architecture

Community-Driven Evolution​

Over time, the development of OpenEX shifted from relying solely on the efforts of the initial design team to a more collaborative approach involving community members. With active participation from the community, OpenEX's technical architecture gradually evolved into a more complex and efficient system.

This evolution is reflected in five main aspects:

  1. Smart Contract Protocols: Serving as the foundation for transactions and other on-chain operations, continuously optimized for performance and security.
  2. Uni-layer2 Blockchain: The introduction of uni-layer2 as the underlying blockchain technology improved scalability and interoperability, providing strong support for cross-chain asset operations.
  3. Web3 Matching Engine: Transitioned from an initial centralized design to a fully decentralized matching engine, ensuring transparency and fairness in transactions.
  4. Web3 App: Developed specifically for OpenEX, this app allows users to access and trade directly on their mobile devices, significantly enhancing user experience.
  5. AI Capability Integration: Developed a technology framework designed for the integration of Web3+AI architecture, allowing AI capabilities to permeate environments from asset creation to management and trading, laying the groundwork for future applications.

OpenEX Orderbook & Match Engine Design

Uni-layer2 Design Principles​

The uni-layer2 technology adopted by OpenEX is an innovative layered solution aimed at improving transaction speed and reducing costs by building a second-layer network on top of existing blockchain networks while maintaining the security and decentralization of the underlying blockchain. This design allows for transactions to be batch-processed and submitted to the main chain only when necessary, significantly reducing network congestion and transaction fees.

Network Nodes and Consensus Mechanism​

The OpenEX Network employs a decentralized node architecture to ensure the security and scalability of the network. These nodes are responsible for verifying and recording transactions and maintaining the overall health of the network. The consensus mechanism adopted by OpenEX aims to balance efficiency and security, introducing innovative algorithms to reduce potential attack surfaces and increase transaction processing speed.

Interaction Mechanism with BTC Layer2 Network​

OpenEX places special emphasis on integration with the BTC Layer2 network to overcome the challenges faced by the Bitcoin network in handling large volumes of transactions. By leveraging Layer2 technologies like the Lightning Network, OpenEX can achieve faster Bitcoin transaction confirmation speeds and lower transaction fees without sacrificing the security of the Bitcoin network. This integration provides users with a seamless cross-chain trading experience, allowing them to easily trade between Bitcoin and other blockchain assets.

Cross-Chain Asset Operations and Smart Contract Integration​

The cross-chain bridge technology of OpenEX is another key component of its technical architecture, enabling asset transfers between different blockchain networks. This technology supports asset interoperability not only between EVM-compatible chains but also with non-EVM chains like Bitcoin. Additionally, OpenEX supports the deployment and execution of smart contracts, allowing developers to build and run decentralized applications (DApps), further expanding the platform's functionality and application scenarios.

Realizing OpenEX's Core Design Philosophy​

This evolution of the technical architecture maximally realizes OpenEX's core design philosophy of openness, transparency, and low cost. By clearly recording each transaction on the chain, it not only enhances the transparency and security of transactions but also significantly reduces transaction costs. Furthermore, the introduction of the uni-layer2 blockchain and the continuous optimization of smart contract protocols lay a solid foundation for OpenEX, enabling it to support the extensive needs of future Web3 trading platforms.

Through the collective efforts of community members and continuous technological innovation, OpenEX has evolved from its initial design concept into a powerful and highly flexible trading platform, providing a comprehensive infrastructure for the future AGI era of the Web3 world.