OKBChain to Launch as Ethereum L2 Chain

OKBChain Unveiled as L2 Chain

OKX founder Star Xu has announced the forthcoming launch of OKBChain, positioning it as a Layer 2 (L2) chain of Ethereum. This strategic move aims to enhance the blockchain's capabilities, initially utilizing side-chain technology and progressing towards Zero-Knowledge (ZK) technology. The initiative is part of OKX's core chain strategies, which includes OKTC and OKBC.

Independent Development Path

Xu clarified that the new OKBChain will be distinct from the existing OKXChain. The anticipated launch is scheduled for the first quarter, with Xu providing insights into the development timeline. He confirmed that OKT Chain will maintain its status as a Layer 1 (L1) chain, while OKBChain will focus on Ethereum integration.

Technological Advancements

The OKTC will soon support WASM, enabling high-performance decentralized app development using languages like Rust and C++. This development is crucial in expanding OKX's technological footprint within the blockchain ecosystem.

Market Impact

Following the announcement, OKB experienced a significant 33% surge in value. Despite a minor 2.2% dip at press time, the token has seen an overall increase of 10.35% over the past week. This price movement is attributed to OKX's increased collaborations with Filecoin EVM, which enhances data storage and retrieval on the internet.

Strategic Collaborations

The integration with Filecoin's EVM is a pivotal aspect of OKX's strategy, providing universal access to data storage and leveraging Ethereum's execution framework. This collaboration is expected to drive further growth and adoption of OKBChain in the blockchain space.