Today we will examine OKX Exchange’s new blockchain, OKBCain, together with you.
OKBChain Announced
A tweet shared by veteran cryptocurrency investor and developer Mingxing Xu, known as Star Xu, fell like a bombshell. It looks like the crypto industry could see another blockchain launch in the first quarter of 2023.
OKBChain Features
Mingxing Xu shared the details of the new project yesterday. According to the details shared by Xu, this blockchain named OKBChain will go live as soon as the 1st quarter of 2023. The development of this new blockchain will be kept separate from the progress of the already existing OKXChain. However, OKXChain will remain 100% community-driven, while OKBChain will be developed, curated and promoted by OKX company itself. Although there is no clear information about the OKBChain architecture, detailed information is expected to be announced in the coming weeks, but it is expected to be separate from the Proof of staking consensus in OKXChain.
Following this post by Mingxing Xu, the price of OKB, the core cryptocurrency of the OKX ecosystem, has surpassed its 2021 high and set a new record, exceeding $52.31.
As OKX is one of the most influential ecosystems in Asia and CIS regions, launching its own blockchain is highly anticipated by developers, investors and crypto enthusiasts around the world.
What is OKXChain?
OKXChain is a programmable blockchain developed by the OKX community. Launched in December 2020, this chain is compatible with two main ecosystems in the crypto industry. OKX can seamlessly interoperate with both the Ethereum Virtual Machine (EVM) and the Inter-Block Communication Protocol (IBC). Therefore, the blockchain can effortlessly interact with Ethereum and Cosmos, a decentralized network. OKXChain leverages the Tendermint algorithm and authorized proof-of-stake (DPoS) consensus.
What is OKBChain?
OKBChain is a new blockchain developed by the team of cryptocurrency exchange OKX. Developed quietly in 2022, the existence of OKBChain was first made public on February 16, 2023 by OKX founder Mingxing Xu.
Mr. Xu emphasized that he will leave OKXChain and will address other goals. However, it is clear that OKBChain will bring more benefits to the OKB token and its ecosystem.
Most likely, the new blockchain will be integrated into a family of services developed and promoted under the OKX umbrella. It also seems logical that OKBChain has EVM and IBC support to optimize its developer friendly feature.
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