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OKEx is creating a blockchain

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OKEx (a Malta-based crypto exchange) has revealed its plans to launch a decentralized exchange on its own blockchain. 

OKEx announced that its operations team has been developing OKChain (a blockchain), which will provide the underlying tech required for OKDEx (its first decentralized exchange). According to the company, OKChain is said to be in its final development stage and in June, a test network launch will take place.


As a result of demand, the exchange said that, by April ending, it will put OKB onto an Ethereum ERC-20 standard blockchain, and as soon as the network is stable, it will move all tokens to OKChain.

The announcement says:


OKB will be the native token of the OKChain network, which can be used to settle transaction fees, or used in the Dapps [decentralized apps] developed on OKChain.


It seems exchanges now see decentralized exchange as a necessary thing they must possess. Binance, which is the largest crypto exchange in the world by adjusted trading volume, is also set to launch a DEX on its own blockchain network.



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