OKEx Launches Own Blockchain And the OKDEx Decentralized Exchange

OKEx cryptocurrency exchange stated in its blog that it plans to launch a decentralized exchange (DEX) on its own blockchain. The Malta-based company has announced that its operating team is developing a blockchain called OKChain, which will eventually become the basic platform for the OKDEx decentralized exchange.

According to company representatives, currently, OKChain entered the final stage of development. Also, the launch of the testnet is expected in June. It was also announced that the OKB token will be released by the end of April on the ERC-20 standard, but the transfer to OKChain is to happen later, as soon as the new network is considered “stable”.

“OKB will be the native token of the OKChain network, which can be used to settle transaction fees, or used in the Dapps [decentralized apps] developed on OKChain.”

— stated the company’s representatives.

It seems that the decentralized exchanges and the IEO launchpads are becoming prerequisites for the further development of cryptocurrency exchanges. As we have previously reported, Binance and Huobi are already following this path.

Image courtesy of BloqWire