Blockchain
Main cryptocurrency trade OKX has introduced the launch of its new blockchain in a take a look at community. The innovation, known as OKB Chain (OKBC), is a Layer 2 EVM resolution with which OKX intends to take the ecosystem in a decentralized route and increase there.
OKB Chain testnet is now stay – kickstarting a seamless expertise for builders and customers between CeFi and DeFi, all powered by @OKX!
— OKB Chain (@OKB_Network) March 28, 2023
Based on the venture roadmap, OKB Chain 1.0 is the primary of two take a look at networks. The ultimate OKBC take a look at community is scheduled for launch within the fourth quarter of 2023. OKB Chain 2.0 will reportedly 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 traits on the earth 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 trade, 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 trade with a specialised ZK-circuit. Apparently, the discharge of OKX’s ZK DEX will happen instantly on the primary community.
OKX: ZK and HK
OKB Chain is more likely to turn out to be a critical competitor to the present Layer 2 Ethereum-compatible protocols, given OKX’s dimension and consumer base. Based on DefiLlama, the black-and-white crypto big is already the second largest centralized platform after Binance. OKX has an estimated whole web asset worth of $9.25 billion, up 30% year-to-date.
On the similar time, the trade itself will not be stopping and is on the lookout for new factors of progress. For instance, right this moment plans to increase OKX’s enterprise in Hong Kong, which ought to quickly turn out to be a brand new international hub for the crypto business, turned identified.
