OKB seems to be on for a rally amid new developments at OKX. The firm announced a new OKBC test net aimed at ETH scaling solutions.
The OKB token seems to be on for a good day amid a new reveal at its native firm that has seen the OKB token surge of over 4% in a period of 24 hours according to CoinMarketCap data. OKB, currently trading at $43.32, has seen a surge of 33% in trading volume within the same period.
OKB 24-hour charts | Source: CoinMarketCap
OKB currently has a market cap of $12,994,791,551 which represents an increase of 4% as of the time of writing. Despite today’s good trend, OKB has recorded a 7% drop in valuation according to weekly stats.
OKX unveils OKB chain testnet
OKX, a leading cryptocurrency exchange, has announced the launch of its OKBChain (OKBC) testnet, which is set to revolutionize the cryptocurrency industry by providing a high-performance, low-fee, and developer-friendly platform that bridges the gap between centralized and decentralized finance.
In 2023 Q1, the OKBC testnet will provide developers with a user-friendly interface compatible with the Ethereum Virtual Machine (EVM) and WebAssembly (Wasm) ecosystems to ensure seamless user and developer experiences.
OKX said that existing Layer 2 scaling solutions like Optimistic Rollup technology and the ZK general network are not mature enough to fulfill the performance and efficiency expectations of extreme use cases. OKX launched the OKBChain (OKBC) to provide consumers a Web2-like experience to solve this problem.
Based on the OKB ecosystem, OKX exchange integration and market assistance will link the DeFi world to OKX. OKBC will get upstream and downstream operational assistance and uniform branding as part of OKX. OKX Web3 Access will integrate OKBC’s SDK with OKX Web3 apps.
OKX has been stable for over two years, and with OKBC, it hopes to connect CeFi and DeFi and provide cutting-edge scaling solutions to the Ethereum community. OKX promises to provide a smooth and user-friendly Web3 experience by combining OKTC and OKBC.
In conclusion, OKBC will revolutionize the cryptocurrency business by delivering a high-performance, low-fee, developer-friendly platform that links centralized and decentralized finance. OKX’s OKBC testnet shows its commitment to blockchain innovation, paving the road for a more inclusive, decentralized Web3.