Crypto Exchange OKX Releases OKB Chain Development Roadmap - TheNewsCrypto

• OKX will rebrand the Layer 1 public chain it has been developing as OKT Chain.
• The press release details OKX’s three-stage strategy for developing the OKBC network.

OKX, a cryptocurrency exchange, revealed its plans for development for the year on Monday with the release of the OKX public chain development roadmap. $OKB Chain (OKBC) is a public chain project started by OKX in February with the intention of developing a ZK-based Layer 2 scaling solution for the Ethereum Layer 2 network.

In the meanwhile, OKX will rebrand the Layer 1 public chain it has been developing as OKT Chain. The OKX exchange’s native token $OKB thus increases in value by 5%, followed by a brief correction. The price has moved from a low of $41.62 to a high of $43.98 in the past 24 hours. In the last 24 hours, trading volume has continued to rise.

Three-stage Strategy

The press release details OKX’s three-stage strategy for developing the OKBC network: $OKB Chain V1, $OKB Chain V2, and $OKB Chain V3.

Moreover, $OKB Chain V1 is an Ethereum PoA side chain that prioritizes fast transaction times and cheap transaction costs. $OKB Chain V2 is the native ZK Rollup platform on Ethereum, which significantly increases scalability and efficiency. $OKB Chain V3 allows ZK Rollups to communicate with one another across chains and aids in the development of decentralized applications (DApp).

On the OKTC testnet in October, OKX reached a testing performance of 6,000 TPS. The OKBC V1 testnet, which will emphasize decentralization and zkEVM, will be released shortly. Interestingly, a dual-chain method is now in the works to combine OKTC and OKBC’s strengths for a more streamlined and intuitive Web3 experience.

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