OKExChain

Overview of OKExChain

  • OKExChain’s architecture has been designed to allow any user to apply to become a supernode, allowing developers and businesses to quickly and securely launch a variety of decentralized applications, issue digital assets, create trading pairs and trade without friction. 
  • OKExChain (OKT) fundamentals: There is a circulating supply of 10.000M, a total supply of 10.000M, a maximum supply of -, a total cap of $2.098B, a 24 hour range of 12.55%, a 24 hour low of $192.80 and a 24 hour high of $220.47.
  • OKExChain, the world’s first trading chain created by renowned crypto derivatives exchange and trading platform OKEx has partnered with Cosmostation to provide a secure staking environment to its community.
  • OKExChain provides a safe and efficient infrastructure for creating decentralized applications for seamless on-chain trading of all kinds of assets within a cross-chain, value-exchange ecosystem.
  • OKExChain also offers a cross-chain gateway to support transfers of tokenized assets across various public blockchain networks, along with future support for the Cosmos IBC cross-chain solution.
  • OKExChain (OKT) has changed 1.46% over the past 1 hour, 1.89% over the past 24 hours, 41.71% over the past 7 days, 67.4% over the past 30 days and 0.00%- over the past 90 days.
  • OKExChain is specialized in trading and, upon completion of its fourth phase of rollout, will allow for an entire ecosystem of Ethereum-compatible DEXs and trading-based dApps.
  • OKExChain is a set of open-source blockchain projects developed by OKEx, aiming to promote the landing of large-scale commercial applications based on blockchain technology.
  • OKExChain allows us to satisfy the needs of crypto market participants wanting a decentralized experience without just being a mere extension of the OKEx brand.
  • OKExChain has been following a phased launch since December 2020 and is preparing to switch on its EVM-compatible feature in the fourth, and final, stage.

    • Blockchain

    In the future, it is possible for the applications on OKExChain to use the data and computing services provided by IRIS Hub, the other examples include privacy computing services provided by a blockchain such as PlatON in IRISnet ecosystem, data mining services running off-chain to calculate certain market risk factors, etc.Recently, IRISnet team established a partnership with Chainlink and open-sourced the integration code of IRIS iService and Chainlink on Github.Through this integration, applications on other blockchains/legacy systems can conveniently consume oracle data services.

    Network

    OKT has the same model as Bitcoin Halving, where its block reward is cut in half roughly every three years.OKT is the native token of the OKExChain ecosystem, providing immediate utility and benefits such as voting rights, staking privileges and transaction fee payment for decentralized exchanges and other DeFi applications built on the network.The initial block reward is 1 OKT and the theoretical upper limit of OKT's total supply is about 72.2 million.The OKT genesis block will contain an initial minting of 10 million OKT, which will be distributed to OKB holders who stake their OKB on OKEx Jumpstart.

    Support

    As an interchain service hub supporting complex distributed applications, IRIS Hub introduced many core functions that can empower DeFi last year.DeFi is one of the most anticipated use cases for blockchain technology.More recently, this functionality has also included a test version of Coinswap (on-chain flash exchange) which can work with IBC.Moving forward with DeFi ecosystem development, IRISnet and OKExChain have also committed to engaging in deeper collaboration in order to further support the development of the DeFi applications in the Cosmos ecosystem.

    Transactions

    Moreover, OKExChain is specifically designed for high-performance scenarios and the high-volume transactions typical of trading activities and financial services — on which an entire trading ecosystem will be supported.You can say the positioning is a creative innovation itself.

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    How does OKExChain solve the problem of high network fees — like those of the Ethereum network?

    Jay: First of all, OKExChain adopts the consensus mechanism of Tendermint+DPoS, which enjoys lower network costs than PoW.

    What edge does OKExChain have over other blockchains that would attract developers?

    Jay: The answer to this is definitely a low technical threshold, low development costs, and an advanced suite of developer tools.

    What innovations and advantages does OKExChain offer compared to other chains?

    Jay: To begin with, OKExChain opted for a track that no one has explored before — specifically, the trading chain.OKExChain is the result of our independent research and development work based on Cosmos.We have created our own scripts, and the project has been open sourced for developers.

    What is OKExChain?

    The trading chain: a decentralized, borderless, blockchain technology-based ecosystem for exchanging value.

    As a high-performance public chain optimized for trading scenarios, what new technical functions does OKExChain realize, or plan to realize?

    Jay: Currently, OKExChain is the only public chain that supports smart contracts and system contracts.Compared with system chains, we can adjust the underlying parameters — for instance, fee rates for trading applications are more flexible, which is beneficial to both developers and service providers.

    Will OKExChain be accessible to wallet platforms such as Trust Wallet, MetaMask, etc)?

    Jay: Without a doubt, OKExChain will provide access to more and more third-party wallets.At present, MetaMask has gradually become familiar to DApp users, and if OKExChain users show demand for MetaMask, we will consider adjusting OKExChain’s account system to be compatible with MetaMask.

    What is OKExChain?

    OKExChain is a set of open-source blockchain projects developed by OKEx, aiming to promote the landing of large-scale commercial applications based on blockchain technology.It gives each participating node the same rights, allowing users to launch a variety of decentralized applications smoothly, issue their digital assets, create their own digital asset trading pairs, and trade freely.

    Where do you see OKExChain 10 years from now?

    Jay: Ten years can be pretty far away, but let’s be bold.I believe that, by that time, most tradable assets will be tokenized, and even things untradable now will be tokenized and traded.In an era when you can trade anything, decentralized exchanges will certainly become mainstream.At that time, OKExChain, as the world’s first trading chain, will support various types of derivatives trading and will have a huge number of users and high trading volumes.

    History of OKExChain

  • In 2019, the IRISnet core team was invited to provide Cosmos technical training for the OKExChain team – including blockchain development, stress testing, node operation, and maintenance, etc.