Crypto exchange platform OKX is gearing up to launch a new blockchain as its native token surges to new all-time highs.
Star Xu, the founder of crypto derivatives exchange OKX, says that the firm will be launching a new but separate blockchain as its native asset OKB reaches new all-time highs.
According to Xu, the new blockchain called the OKXChain will focus on creating a decentralized ecosystem for the protocol, granting users access to decentralized finance (DeFi) and decentralized applications (DApps).
OKXChain will be created and operated solely by the OKX company, unlike the project’s first blockchain, which was co-built by community members.
“[All-time high], 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 will] start to build [an] OKB decentralized ecosystem.
To clarify, OKXChain is a [proof-of-stake] chain, which is totally open and co-build by communities. OKBChain is developed and operated by [the] OKX company. The two chains are totally separate.”
OKB surged this week from a seven-day low of $39.03 to a fresh all-time high (ATH) of $51.74, a 32% increase. OKB has since retracted and is moving for $49.24 at time of writing, making it the 25th-ranked digital asset by market cap.
Don’t Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox
Check Price Action
Follow us on Twitter, Facebook and Telegram
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/tostphoto