On February 16, 2023, Star Xu, the founder of the OKX exchange, dropped a tantalizing hint about the imminent launch of a brand new OKBChain. According to Xu, this new chain will be completely independent of the current OKXChain and will debut in Q1. With his finger on the pulse of the industry, Xu’s announcement has set tongues wagging and anticipation building for what promises to be a game-changing addition to the blockchain landscape. Stay tuned for more updates as the launch date draws near.
In response to a user’s inquiry about the launch date of the testnet, Xu provided a reassuring update, indicating that the launch is imminent. Another Twitter user sought clarification on the relationship between OKBChain and OKT, prompting Xu to issue a tweet elucidating the workings of the new chain. The tone of Xu’s communication was professional and informative, instilling confidence in the community’s anticipation of the upcoming launch.
During his address, Xu confirmed that OKT Chain would remain an L1 chain, while OKB Chain would operate as an L2 chain of Ethereum. He elaborated that OKB Chain will initially utilize side-chain technology and eventually transition to ZK technology. Xu emphasized that OKTC and OKBC are integral components of the OKX core chain strategy.
After the announcement, OKB experienced a remarkable 33% surge in value. OKB is trading at $47.19, indicating a slight 2.2% dip in value within the last 24 hours. However, it’s worth noting that OKB has impressively climbed by 10.35% in the past seven days.
The value of OKB has witnessed a significant surge thanks to many crucial factors. One of the most critical catalysts behind this upward trajectory is the recent announcement by OKX regarding its enhanced partnerships with Filecoin EVM. This development has played a pivotal role in bolstering the price of OKB, signaling a positive outlook for the cryptocurrency.
Filecoin offers a comprehensive solution for data storage and retrieval, enabling seamless access to information on the internet. Meanwhile, the Ethereum Virtual Machine acts as a robust execution framework, streamlining the deployment and operation of diverse code on a blockchain platform. Together, these cutting-edge technologies empower businesses and individuals to harness the full potential of decentralized networks with utmost ease and efficiency.
