Blockchain
Main cryptocurrency alternate 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 resolution with which OKX intends to take the ecosystem in a decentralized route and develop 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 line with 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 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 developments on this planet of decentralized finance and the emphasis on zero-knowledge proof of that. Thus, along with the 2 chain testnets, the roadmap contains the launch of a ZK decentralized alternate, 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 12 months together with OKB Chain 2.0 and goes to be a full-fledged derivatives alternate with a specialised ZK-circuit. Curiously, the discharge of OKX’s ZK DEX will happen instantly on the primary community.
OKX: ZK and HK
OKB Chain is prone to change into a severe competitor to the present Layer 2 Ethereum-compatible protocols, given OKX’s dimension and consumer base. In line with DefiLlama, the black-and-white crypto big 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 alternate itself shouldn’t be stopping and is searching for new factors of progress. For instance, immediately plans to develop OKX’s enterprise in Hong Kong, which ought to quickly change into a brand new international hub for the crypto business, grew to become identified.