Blockchain
Main cryptocurrency change OKX has introduced the launch of its new blockchain in a check community. The innovation, known as OKB Chain (OKBC), is a Layer 2 EVM answer with which OKX intends to take the ecosystem in a decentralized route and broaden there.
OKB Chain testnet is now reside – kickstarting a seamless expertise for builders and customers between CeFi and DeFi, all powered by @OKX!
— OKB Chain (@OKB_Network) March 28, 2023
In response to the challenge roadmap, OKB Chain 1.0 is the primary of two check networks. The ultimate OKBC check community is scheduled for launch within the fourth quarter of 2023. OKB Chain 2.0 will reportedly now not simply be an Ethereum scaling community for decentralized options, however a ZK-rollup. The chain’s native token is not going to be ETH, however OKB, which will likely be used to pay transaction charges.
OKB Chain tries to maintain up with all present tendencies on this planet of decentralized finance and the emphasis on zero-knowledge proof of that. Thus, along with the 2 chain testnets, the roadmap consists of the launch of a ZK decentralized change, additionally in two iterations. OKX’s ZK DEX 1.0 is due out within the second quarter and can use StarkEx expertise.
The second model will likely be launched on the finish of the yr together with OKB Chain 2.0 and goes to be a full-fledged derivatives change with a specialised ZK-circuit. Apparently, the discharge of OKX’s ZK DEX will happen instantly on the principle community.
OKX: ZK and HK
OKB Chain is prone to turn out to be a severe competitor to the present Layer 2 Ethereum-compatible protocols, given OKX’s dimension and consumer base. In response to DefiLlama, the black-and-white crypto large is already the second largest centralized platform after Binance. OKX has an estimated complete internet asset worth of $9.25 billion, up 30% year-to-date.
On the similar time, the change itself just isn’t stopping and is searching for new factors of progress. For instance, in the present day plans to broaden OKX’s enterprise in Hong Kong, which ought to quickly turn out to be a brand new international hub for the crypto business, grew to become identified.
