OKX founder, Star Xu revealed that OKX will launch a new blockchain, OKBChain. The new chain will be independent of the current chain of the platform —OKXChain. The new blockchain will be launched in Q1, Star said.
OKXChain is an EVM and IBC-compatible L1 chain built on the cosmos network. It is focused on providing an environment to empower DeFi and web3 and also give DApp developers a platform to deploy their assets and applications from other chains. The OKXChain is an open Proof of Stake chain previously known as OKExchain, the platform rebranded from OKEx to OKX in 2022.
According to Star Xu, the new chain, OKBchain, will differ from the currently used chain as it would be operated by OKX itself. “To clarify, OKXChain is a POS chain that is open and co-build by communities. OKBChain is developed and operated by the OKX company. The two chains are separate,” the founder said.
The two chains are not just different in operation but are different projects and will serve different purposes. EthereumFair, an Ethereum fork responding to the OKX founder via its Twitter handle mentioned that OKBChain will serve the purpose of providing business and enterprise solutions while the OKXChain will be focused on developers. “OKExChain is more focused on providing a decentralized platform for developers to build and deploy dApps, while OKBChain is more focused on providing business solutions to enterprises,” EthereumFair said.
However, the question of if the OKBChain will integrate the OKB token is yet to be answered by the OKX founder, Star Xu.
OKB is the utility token of the OKX ecosystem. It is an ERC-20 deflationary token issued by OK Blockchain Foundation. The token plays the role of “synching various products and services available at OKX for its users.”
Star Xu founded OKX in 2017 and is headed by Jay Hai as the CEO and Haider Rafique as CMO.
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