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OKX revealed the new roadmap of the anticipated OKB chain. OKB Chain (OKBC) is a new blockchain project launched by OKX, one of the world’s biggest digital asset exchanges, to solve the limitations of Ethereum’s scaling technology.
Built by @OKX. Made for the masses.
— OKB Chain (@OKB_Network) March 27, 2023
To celebrate the upcoming launch of OKB Chain testnet, here is a quick recap of what we have done so far and our plans ahead 👇https://t.co/GR2CyzpdI4 #OKBChain #Ethereum
The release claims that Ethereum‘s network speed will only improve briefly and that the gas war creates issues for regular users. Even though layer 2 solutions help with temporary scaling issues, they need to catch up regarding the efficiency and performance requirements of the most demanding workloads.
A look into the OKB chain
OKBC is a dual-chain approach that combines OKT Chain (OKTC) and OKB Chain to provide customers with the most streamlined and intuitive web3 experience possible.
OKBC V1, an Ethereum PoA sidechain; OKBC V2, an Ethereum-native ZK rollup platform; and OKBC V3, which enables cross-chain communication between ZK rollups and proposes specialized application solutions based on the V2 platform, make up the three main pillars of the OKBC initiative.
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The first version of OKBC will be optimized for speed and low transaction costs while also being compatible with the EVM and Wasm ecosystems. This will make life easier for both users and programmers.
By providing a Turing-complete zkVM, OKBC V2 will greatly enhance scalability and efficiency without breaking backward compatibility with the Ethereum ecosystem.
OKBC V3 will allow ZK rollups to communicate with one another across chains and provide tailored application solutions built on top of the V2 infrastructure.
The release states that OKBC will support the EVM virtual machine and give developers clear, simple, and actionable materials. OKBC, built on the OKB ecosystem, will link the OKX exchange to the DeFi community.
OKX does not have to worry about short-term financial returns since it already has development, operating, and ecosystem resources. OKBC will provide the SDK that OKX will utilize to integrate deeply with OKX web3 programs.
OKX’s goals
From its inception over two years ago, OKX has reliably operated OKTC. OKX has always been eager to push the envelope of layer 1 technology, constantly improving the foundational technology and expanding with the layer 1 ecosystem.
With OKBC, OKX hopes to connect CeFi and DeFi, bringing innovative scaling solutions to the Ethereum ecosystem.
OKX’s introduction of OKB Chain shows the company is committed to becoming a leader in the blockchain industry and paving the road for a decentralized and accessible web3.
The company is dedicated to furthering development across the blockchain industry; to this end, it plans to integrate the benefits of OKTC and OKBC to provide users with a streamlined and intuitive web3 experience.
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