Author: xulian Translator: Cointime.com 237
Uniswap v4 is a decentralized trading protocol based on Ethereum, which improves and innovates on Uniswap v2 and v3.
The following is a detailed explanation of the main improvements of Uniswap v4:
1. Arbitrary code hooks (Hooks)
The introduction of externally deployed contracts that can execute developer-defined logic at specific points in the pool's execution. This increases the customizability of the pool and supports new features and strategies such as Time Weighted Average Market Maker (TWAMM).
2. Improved Gas Efficiency
Uniswap v4 uses a new internal accounting mechanism (Flash Accounting) to reduce the gas cost during the transaction process, making transactions cheaper and more efficient.
3. Singleton Pattern
By having all pools managed by a single contract, the cost of pool creation and multi-hop transactions is reduced. This is a significant improvement over the factory model in previous versions.
4. Native ETH support
Uniswap v4 reintroduces native Ethereum support by using Flash Accounting and singleton patterns to handle its complexity. Native ETH support brings significant gas savings.
5. ERC-1155 Token Accounts
The introduction of ERC-1155 token accounts can further reduce Gas costs and improve capital utilization. For users who frequently use the same token in multiple blocks, the Gas cost can be reduced by up to 40%.
These new features and improvements are expected to increase the efficiency and flexibility of Uniswap, but may also increase the learning curve and complexity for users with less technical skills. The choice of using v2, v3 or v4 versions needs to be based on the user's specific needs and understanding.
Uniswap v4 shows that the DeFi space is still in the process of continuous development and exploration. It has made progress in some aspects, but also brought new challenges and complexities. Different versions are suitable for different users, based on their needs, technical capabilities, and risk tolerance.
The introduction of Uniswap v4 shows that the DeFi space is still evolving and exploring. It represents both the potential and challenges of DeFi. Whether you are a developer, trader, liquidity provider, or observer, Uniswap v4 is a development project worth paying attention to. As these features evolve and the community feedback, more interesting results will emerge.
You can read their announcement for more details:
https://t.co/sjs0xYck8u
The full white paper can be found here:
https://t.co/Px9Be4VQO8
It’s important to note that while Uniswap v4 introduces many new concepts, it is still a work in progress. It will be very interesting to see how these features evolve and the community respond to them.
