- OKExChain launched by OKEX, the world’s largest cryptocurrency spot
- It has tried to incorporate the key characteristics of blockchain in OKExChain: openness and decentralization
- The cryptocurrency exchange has been focusing on the evolution of its ecosystem of decentralized apps
OKExChain announced the historic release of its mainnet earlier today, around 5:30 pm. The launch was announced via their Twitter handle.
They have officially called applications from all the blockchain developers for their Star Voyage Program. The world’s first trading chain promises a new DeFi & dApp ecosystem to its users.
The significant qualities of OKExChain
OKEx has been seen as the world’s leading cryptocurrency setting and derivative exchange. It has marked a significant beginning with the recently announced launch of OKExChain mainnet.
In contrast to prevailing change chains, OKEx wanted to incorporate the critical characteristics of blockchain in OKExChain. The respective qualities are receptiveness and decentralization. The vision has finally come to fruition after more than ten renewals on the testnet, along with the exhaustive ongoing progress.
The four stages of OKExChain
OKEx has been planned to roll out in four stages. The beginner stage would be the Genesis stage from Dec. 31, 2020, to Jan. 13, 2021. After that, the second stage will target mainnet stability testing. The third stage will enable the transaction function and allow users to withdraw their OKT from OKEx to OKExChain. The fourth and final phase will enable the smart contract virtual machine.
Henceforth, the OKExChain will become adaptable with all schemes on Ethereum with the complete official launch of the leading network.
The noteworthy upgrades in OKExChain
Since the announcement of the initial testnet, OKExChain has witnessed significant updates in its mechanism. The changes have been noteworthy, from the development of EVM smart contracts to collaborations with Waves, DoraHacks, and Achain.
OKExChain has been working on the expansion of its ecosystem of decentralized apps. It has managed to do so through the consistently ongoing development and a highly successful hackathon.
Jay Hao, OKEx’s CEO, stated that 2020 was a year of beautiful transformations for their company. Though the sufferings caused by the pandemic are tremendous, the incredible development in the space of cryptocurrency remains vital. He claimed the year to be filled with “reflection and learning” and expressed his excitement on the respective launch.
The company has clarified that the OKT will be delivered proportionally to OKB holders via OKEx Jumpstart. Thus, the holders of OKB can easily access the facility of stake and un-stake at their preferred time.
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