Seychelles-based cryptocurrency exchange OKX announced the launch of its new blockchain dubbed OKBChain, which is separate from the existing Ethereum Virtual Machine (EVM)-compatible smart contracts protocol OKXChain.
According to OKX’s founder Star Xu, the new OKBChain would foster the development of an OKB decentralized ecosystem.
OKX Unveils New Protocol for Decentralized Economy
As per Xu’s tweet, OKBChain will be launched in Q1 2023 as a separate protocol from OKXChain, as they serve different purposes.
The CEO clarified that the OKXChain is a proof-of-stake blockchain co-built by communities while the OKBChain would be developed and operated by OKX.
As EthereumFair’s official Twitter account further explained, OKBChain would be more focused on providing business solutions to organizations and businesses. On the other hand, OKXChain will continue to offer a decentralized platform for creating and deploying decentralized applications (dApps).
