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OKEx to Go Live With OKExChain Mainnet Before New Year

OKEx to Go Live With OKExChain Mainnet Before New Year
  • Crypto exchange OKEx is ready to launch its mainnet OKExChain.
  • OKEx will roll out OKExChain in four main phases.
  • OKExChain presents itself as a trading-focused chain and a borderless ecosystem specifically for exchanging value.

Derivatives exchange OKEx has announced that it will launch its OKExChain mainnet on December 31, 2020. The technology is described as an open-source trading-focused chain, as well as a decentralized and borderless ecosystem for exchanging value.

After the launch, OKEx will conduct a final test for the entire network with its community to ensure the safety and reliability of the OKExChain.

Basically, the mainnet launch will be divided into four stages. Firstly, the genesis phase will occur on December 31. Secondly, the team will test the OKExChain mainnet stability. Furthermore, right after the system passes stability testing, OKEx will enable transaction functions.

Thirdly, OKEx will allow users to transfer their OKT to OKExChain.

Intentionally, OKEx created their blockchain to match with all Ethereum projects. Basically, this means that developers can run smart contract virtual machines after the validators’ proposal. However, this will only happen in the fourth stage.

OKExChain has provided a series of developmental features as well as taken many technological innovations. It shifted mainly from what it aimed at offering best initially. Currently, it is focusing on the emergence of new technologies.

More importantly, the developmental processes paved the way for the OKExChain team to understand both the pros and cons of the mainnet. This clearly depicts how the OKExChain vision intends to rekindle and improve many other existing projects.

Throughout its creation, OKExChain aimed to become a robust, highly efficient trading chain with cost-benefits in the coming year. According to the firm, the mainnet briefly bills itself as a high-performance public chain to handle much more transactions within seconds.

Read Also: OKEx Launches DeFi Lending Marketplace, Lists 8 Projects

Collins Adane is a writer who follows the crypto industry closely. He loves fish stew and Real Madrid. He believes in cryptocurrency’s potential to transform the money landscape in his native country Ghana.