OKExChain announces EVM compatibility and introduces Hackathon with $50K grand prize pool

VICTORIA, Seychelles, June 24, 2021 /PRNewswire/ -- OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce that OKExChain, an open-source and truly decentralized ecosystem designed explicitly with traders in mind, is now available to developers to kickstart exciting decentralized apps. The goal is to create a decentralized finance infrastructure to encourage community-based projects, to establish transparent and clear trading rules, and also to give users the autonomy to have full control over their assets. As compared to different chains in the industry, OKExChain is specifically designed to support high-volume and high-frequency trading activities with lower gas fees and a higher TPS, or transactions per second.

Following the announcement of the mainnet launch of OKExChain in late last year, we are pleased to add that OKExChain is now Ethereum Virtual Machine-compatible, making it possible for projects from Ethereum to be migrated to OKExChain — also marking the leading standard for smart contract development within the industry.

OKExChain is the ideal one-stop solution for developers looking to create decentralized applications for efficient and seamless on-chain trading of various assets across different blockchains. With performance and efficiency in mind, OKExChain was developed as a trading-focused blockchain technology to lower operational costs when building new trading applications and to enhance the overall user experience for decentralized trading.

OKEx launched OKExChain and continues to play an active role in the ecosystem that supports it. In particular, the OKEx team continues to provide support for R&D, engineering capabilities and educational resources to assist OKExChain users and developers.

To mark the developer launch of OKExChain, the OKExChain Grant Global Online Hackathon is now open for applications. From now to July 11, developers from around the world are invited to submit their projects on DoraHacks' blockchain developer platform, HackerLink.io, for a chance to win a slice of the $50K grand prize pool. The hackathon aims to encourage and support early-stage developer projects with a focus on next-generation decentralized protocols and applications on OKExChain. For more information on the hackathon, please visit https://hackerlink.io/en/grant?type=OKExChain.

OKEx Director of Financial Markets Lennix Lai commented on the latest development of OKExChain:

"OKExChain is the end result of over three years of dedicated research and development from the technology team, and I am beyond excited to share this open-source and truly decentralized ecosystem with the rest of the community. We envision a world where traders will not be segregated by different blockchains but will be able to seamlessly trade assets across various chains with a decentralized trading ecosystem. We look forward to welcoming more developers to build trading apps on OKExChain and be able to contribute to enhancing the overall trading experience and being one step closer to realizing our goal."

About OKEx

OKEx is a world-leading cryptocurrency spot and derivatives exchange that offers some of the most diverse and sophisticated products, solutions, and trading tools on the market. Trusted by millions of users globally, we believe that cryptocurrency will reshape our money and society, enabling all people to live in dignity and freedom. With our extensive range of crypto products and services, and our unwavering commitment to innovation, our mission is to promote and advance cryptocurrency globally – and empower every individual on earth.

SOURCE OKEx