• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Gamble +Try
  • Play GamesTry
  • BUY BITCOINTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo

OKEx Kickstarts OKChain Hackathon to Promote Advancements in Commercial Public Chain Infrastructure

Guest Author by Guest Author
7 months ago
in Uncategorized
Reading Time: 2min read
okchain
Advertisement
Nexo Logo
Listen to Article

OKEx has been a leading exchange and trading platform in the crypto industry. It is known for its long list of products and features that offer plenty of options across a variety of assets to the crypto trading community. However, the company’s mission is no longer confined to growing its own ecosystem as it embarks on developing the OKChain commercial public blockchain.

With the OKChain testnet already in place, and the code uploaded on GitHub to make the blockchain open-source, OKEx has now announced the launch of the OKChain hackathon. It is the very first hackathon organized by the company to encourage the development of decentralized applications on the OKChain commercial public chain.

Launched earlier this year, OKChain’s codebase was made open source in April 2020. Last month witnessed the release of the latest version (ver 0.10) of OKChain that included validator selection and dividend mechanism, making it the first public chain created by a crypto exchange to support access of third-party institutions.  During the hackathon, developers from across the world can create OKChain based products and services like development tools, delegator service products, market computing plugin, SDK, and staking service products. Participation is open till July 20, 2020, and the hackathon winners stand to receive up to $5000 equivalent in OKB as rewards.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Announcing the decision to turn OKChain into a collaborative ecosystem rather than limiting its use exclusively for the OKEx ecosystem, CEO of OKEx Jay Hao said, “Adhering to the original spirit of blockchain, OKChain won’t become an extension of the exchange, but an independent ecology. We are looking forward to co-constructing an open, decentralized, practical, and diverse ecosystem with our global users. Now users can realize their will through the voting mechanism, develop their own DEX or dApp and list their own trading pairs freely based on the latest version of OKChain testnet.”

The active involvement of developers and users in the OKChain ecosystem through various initiatives like the hackathon will accelerate the development and testing of the public chain, which in turn could help in establishing the OKChain much sooner.

With OKChain OKEx is offering an advanced commercial blockchain ecosystem to the industry. The peer-to-peer network is completely decentralized with irreversibility and efficient autonomy in its source code. The design makes it impossible for anyone including its developer OKEx to manipulate the decentralized ledger. The node runners on OKChain enjoy high levels of autonomy, allowing them to come to a consensus to effect any development without requiring authorization from its creators. The voting and consensus mechanism on OKChain is managed using the native OKT token which follows an inflationary model.

The latest release of OKChain further optimizes the cost of operating nodes by implementing the concept of OpenDEX model and DEX Operator. It allows the separation of public chain operator from DEX operator to reduce the server and technology costs incurred by the nodes while ensuring future continuous benefits for operators. Contributors to the OKChain stand to receive multiple benefits including block generation rewards, voting reward, mining fee, transaction fee and more.

Learn more about the OKChain Hackathon here

 

TweetShare7
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Guest Author

Guest Author

Related Posts

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

RAMP DeFi Leads The Liquid Staking Race, Opening Ethereum-Based DeFi to Staked Liquidity From Other Blockchains

1 hour ago
Ethereum

Ethereum Signals Bullish Breakout, Why ETH Could Hit New ATH Soon

2 hours ago
Bitcoin

Bitcoin Struggles Below $38K, Why BTC Could Dive To $32K

3 hours ago
Ethereum

Ethereum is On the Brink of Setting Fresh All-Time Highs as Bulls Take Control

10 hours ago
router

Emerging DeFi Project Router Protocol Raises Seed Funding, To Launch Cross-Chain Farming Soon

19 hours ago

Why This Analyst Expects Bitcoin Price Consolidation After the Recent 15% Drop

1 day ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Changelly

Changelly

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

Introducing ethrift.io Non-Custodial FIAT Ethereum Gateway

January 16, 2021

SV-based Taraxa Revolutionizes Legacy Data Auditing With Mathematically Provable Audit Trails

January 15, 2021

Kickoff Your DeFi Journey With YOYO FINANCE – Their Token Sale Is Live

January 14, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • What is Bitcoin?
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Gamble +
  • Play Games
  • BUY BITCOIN

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.