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OKEx officially introduces OKExChain to the mainnet

By Pavithra R

December 31, 2020

  • Africa
  • Okex
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Jay Hao, OKEx CEO

OKEx, a leading digital asset exchange, has announced the launch of the OKExChain mainnet, embedding blockchain’s core qualities of openness and decentralization in OKExChain.

The company is planning to rollout OKExChain in four stages, starting with the Genesis stage from Dec. 31, 2020, to Jan. 14, 2021. It will then transition to the 2nd stage, which will involve continued mainnet stability testing to ensure its safety and reliability. Following the validators’ proposal-vote process in the 3rd stage, the transaction function will be enabled, and users can withdraw their OKT from OKEx to OKExChain. During the 4th and final phase, the smart contract virtual machine will be enabled, and OKExChain will become compatible with all projects on Ethereum. 

“2020 has been a year of incredible transformation and, while we have witnessed the suffering of many people caused by the pandemic, we have also seen the tremendous growth of the cryptocurrency space and the continued confidence from institutions pushing Bitcoin to a new all-time high and fueling the growth of DeFi. For OKEx, it has been a year of reflection and tremendous learning, and we are thrilled to be launching OKExChain to the mainnet and furthering the financial system of the future,” said OKEx CEO Jay Hao.

Since its initial testnet launch, OKExChain has seen significant upgrades. OKExChain has also expanded its ecosystem of decentralized apps through continued development and a hackathon. 

Founded in 2017, OKEx is a leading digital asset exchange, providing advanced financial services to traders worldwide leveraging blockchain technology. The firm believes that blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and will have a significant impact on the global economy. According to company data, OKEx has nearly $1.5b daily trading volume and provides 100’s of trading pairs.

Recently, OKEx unveiled real-time settlement function for contracts.

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