OKB token updates its all-time high after the announcement of the new OKX blockchain

OKBChain will be launched in Q1 2023

16.02.2023 - 08:15

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2 min

What’s new? Star Xu, CEO of the OKX crypto exchange, has announced on his Twitter account that the OKBChain blockchain will be launched in Q1 2023. According to him, the new network will be independent of the already functioning Okxchain and will allow the building of a decentralized OKB ecosystem. In the wake of this news, the OKB token gained 17,4%, renewing its all-time high at $49,03. Xu called it a testament to the community’s trust in the exchange.

To clarify, Okxchain is a POS chain which is totally open and co-build by communities.OKBChain is developed and operated by OKX company. The two chains are totally separately. https://t.co/Y0QUjtuY6Q — Star (@starokg) February 16, 2023

OKX is a centralized exchange (CEX) founded in 2013. It is headquartered in Seychelles. The platform offers 360 tokens and 658 trading pairs, fee-free conversion, as well as perpetual swaps, futures, and options. As of February 16, the daily trading volume is $2,47 billion.

What else did the head of OKX say? Xu explained that Okxchain is a network based on the Proof of Stake (PoS) consensus algorithm, which is fully open and co-created by communities. OKBChain, on the other hand, is developed and operated by OKX. Xu emphasized that the two blockchains are totally separate.

Earlier, OKX announced the monthly publication of proof-of-reserve reports. As of December 20, the reserve ratio in BTC, ETH, and USDT was 101%, 103%, and 101%, respectively.

On February 8, the CHZ token rose by 20% after the launch of the Chiliz blockchain. The asset is used on the Socios blockchain platform for sports fans.

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