Bitcoin has experienced 11 years of development, while the blockchain industry has also developed for 11 years. In the past 11 years, blockchain practitioners have made various innovative attempts. Some have improved the capacity of Bitcoin, such as Bitcoin Cash ( BCH), which updates the block size to 8mb. Some extend functions based on the Bitcoin mechanism, such as Ethereum's smart contract. Some have similarly promoted the form of Bitcoin digital currency in the economic field, such as conducting a token model economic experiment in various industries.
After so many attempts, historical development proves that the best application scenario for blockchain technology is still in the financial field. The specific point is the "transaction" of digital currency. The ICO model in 2017 overturned the financing model of traditional finance, allowing small and medium investors to participate in the distribution of stock tokens in the primary market. DEFI (Decentralized Finance) in 2020 enables small and medium investors to do things that market makers do and earn profits by providing liquidity. The root of all these innovations is "transaction." The gathering of ICO funds and the distribution of tokens are transactions, while DEFI provides liquidity for financial derivatives services.
In the past development history, projects that are closely integrated with "transactions" have developed the most rapid and stable development, and have become the mainstay of the entire industry. Such as crypto exchanges, mining machine manufacturers, and mining pool service providers. These are either directly providing "transaction" services themselves, or providing "transaction" products in disguise. On the other hand, those projects that are far away from "transactions" will eventually fall into the trading link. The most obvious thing is that after the token exchange, the price of the currency collapsed, becoming an important turning point in the decline of the project. Talking about the key points, centralized exchanges have played a leading role in the past development history. Not only because of the maturity of its casino model itself, but more importantly, the exchange is the closest place to "transactions."
With people's understanding of digital currency and the understanding of the spirit of Bitcoin, people's requirements for "transaction" will become higher and higher. Although centralized exchanges will exist for a long time, a decentralized financial system is the future. People will realize and value the safety of their assets and the transparency and safety of transactions. The future new financial system will inevitably be decentralized.
In the context of such industry development, OKChain is an exchange public chain system developed by OKEx.
What is OKChain?
OKExChain will build the world's first high-performance trading public chain. As the name implies, the public chain of transactions is a public chain specially created for various transaction scenarios. From the design and optimization of the underlying code of the chain, it can not only ensure the security and anonymity of decentralized transactions, but also meet the needs of high-frequency transactions in different transaction scenarios. OKExChain not only supports decentralized order books and swap transactions, but in the future it will also support oracles to support leveraged, perpetual and other derivative transactions.
OKChain features?
(1) High-performance public chain: a high-performance trading public chain specially optimized for trading scenarios;
(2) Completely decentralized: anyone can run to become an OKExChain super node;
(3) Community-driven: full community autonomy, OKExChain's development direction is decided by OKT holders through on-chain proposals;
(4) Openness: Anyone can create their own digital assets, trading pairs and liquidity pools based on OKExChain;
(5) Extreme compatibility: EVM will be supported in the future, compatible with all smart contracts of Ethereum;
(6) Cross-platform: OKExDEX desktop version supports a variety of operating systems, and lowers the barrier to use blockchain through friendly interactive design;
(7) OKEx cross-chain gateway: OKEx will launch a cross-chain gateway to support the migration of various mainstream assets to OKExChain;
(8) Support spot & derivative transactions: not only support liquidity pool and order book transactions, but in the future will also support oracles, and then support liquidity pool or order book transactions for various derivatives such as leverage and perpetual.
What does OKChain look like?
OKEx Dex
DEX is a decentralized trading platform issued by OKEx based on OKExChain. There are two types of DEX transactions: Order Book and Swap. Allow users to have higher asset control rights and manage their assets more freely. It supports functions such as wallet management, digital asset and transaction pair issuance, liquidity pool creation, etc. It is convenient for users to use various types of DEX products through a friendly UI, and will support more derivatives transactions in the future.
AMMSwap module of OKEx Dex
AmmSwap module: The AmmSwap module has four core functions: creating any currency liquidity pool, adding liquidity, deleting liquidity, and token swap. At the same time, it also provides related API interfaces including query currency prices and liquidity.
What's the latest development of OKChain?
(1) The OKExChain testnet has been upgraded to v0.15.0;
(2) OKExChain Swap: The first phase has been developed and tested;
(3) EVM smart contract: OKExChain is compatible with EVM smart contract, the code has been merged, chain startup, deployment of blocks, and abc interface tests can all run normally.
(4) OKExChain liquidity mining farm function completed the system test, and the accuracy of OKExChain was upgraded from 8 digits to 18 digits.
What is OKT?
OKChain adopts the Dpos consensus mechanism. Based on the needs of the Dpos consensus mechanism, OKT was launched as the basic token of OKChain. OKChain's basic token, OKT, 100% of its genesis block TOKEN is distributed to OKB holders through OKEX Jumpstart .
In the future, OKB holders will have the opportunity to become a super node on OKChain, build an ecosystem together, and share technological innovations.
OKT is the value carrier of OKChain ecology. It will independently operate OKchain's underlying token, and by operating OKchain more powerfully, it will empower OKEx's large ecosystem. Its mission is to promote the growth and prosperity of OKChain, and the expected requirements for OKT can target top-level public chain projects such as ETH and EOS.
OKT itself has clear application scenarios. For example, 21 mainnet nodes must use OKT as collateral, and community voting must use OKT. More importantly, the fees and transaction fees charged by the applications running on OKChain in the future will need to be paid by OKT. This is like a boss building an amusement base. The land belongs to the boss, and the basic amusement facilities belong to the boss, but the new service items in it are not owned by the boss but by the service provider. The service provider must pay the rent to the boss, and the tourist must pay the ticket to the boss. Who is this boss, this boss is OKChain, who are the beneficiaries behind it, and those investors who hold OKT.
Why is OKT the key?
The new financial system in the future must be decentralized. The so-called decentralization does not mean that there is no center, but the original center is dispersed into multiple small centers, and the rights of each small center are transparent and the same. How to achieve such decentralization, one is to achieve decentralized main network nodes technically, and at the same time to decentralize the returnees of benefits. The DPOS mechanism realizes the decentralization of such benefits, and the carrier is OKT.
OKT is an important driving force for the immediate launch of the main network, and it is also a driving force for the development of OKChain. If you are optimistic about the development trend of decentralized trading finance, then you need to participate and hold OKT to truly grasp the future trend.