Cryptocurrency exchange OKX has made the announcement that it will soon create a new blockchain platform known as OKBChain. This new blockchain platform will operate fully independently of OKX’s current blockchain, known as Okxchain.
In contrast to Okxchain, which is a proof-of-stake (POS) chain that was co-built by communities, the new blockchain is scheduled to be live in the first quarter of 2023 and will be created and maintained exclusively by the OKX company.
In a tweet, OKX founder Star Xu stressed the difference between the two chains by claiming that Okxchain is an open POS chain that was constructed by the community, and OKBChain is an independent platform that was designed and is controlled solely by OKX.
The two chains are entirely distinct from one another and do not link to one another or overlap in any way. After the news broke, the price of OKX token shot through the roof, reaching an all-time high.
Xu also expressed his confidence in the community’s trust in OKX and the significance of the new blockchain in another tweet, saying:
“ATH, it’s good news. Also, it’s the community’s trust in OKX. A new OKBChain will be launched in Q1 which is independent of the current Okxchain, and start to build OKB decentralized ecosystem.”
OKX has established a reputation for its commitment to decentralization and openness with the launch of OKXChain mainnet in December 2020. The mainnet rollout took place in four stages, culminating in the implementation of the smart contract virtual machine, which made OKXChain compatible with all projects on Ethereum.
With the announcement of OKBChain, OKX is poised to expand its decentralized ecosystem and reinforce its position as a leading player in the crypto space.
