OKC is a blockchain dveeloped by the popular crypto exchange OX.
It's an open-source public Blockchain technology that provides a decentralized, transparent and secure platform for digitized financial markets.
It is designed to bridge the gap between traditional financial services and new digital assets. The key features of OKC blockchain include efficient and secure transaction processing, fast transaction confirmation times, smart contract capabilities, and enterprise level scalability. With its innovative combination of privacy, openness and security, the OKC blockchain is poised to become a revolutionary force in the world of finance.
Check out some of the popular dApps that support OKC below.
Delegated Proof-of-Stake (DPoS)
The OKC chain is built using Cosmos SDK and Tendermint, which are tested for reliability, scalability, and speed. It's the blockchain developed by the popular cyrpto exchange OKX.
The network can process as many as 2000 transactions per second with minimal cost or fees associated with them. Thanks to its smart contract capabilities, it is perfectly suited for trading purposes. Additionally, it comes with an easy-to-use Web3 interface to get users up and running quickly without having to become experts in blockchain technology.
OKX Chain also offers several advanced features like virtual asset control, 3D asset sharing system integration, NFT validation and a cross-chain asset transfer protocol.
All these functionalities make it perfect for Metaverse applications and building complex decentralized applications that require immense performance levels. It has compatibility with the Ethereum Virtual Machine (EVM) making seamless integration with traditional well-known technologies possible.
The fees associated with the OKC Blockchain vary depending on the services used and the ownership structure of projects using the network.
As an example, small external projects will typically pay no upfront fees but just transaction fees which can range from 0.3% to 4%.
Bigger projects involving partners are likely to be charged by setup and deployment fee plus transaction costs.
Yes, the OKC blokchcin has it's own token, OKT.
The OKT, or OKX Chain Token, is the native token of the OKC network and is also the primary resource that fuels all transactions within the blockchain.
The tokens in the genesis block are all allocated to OKB holdings permanently. All users from within the network can access and transfer these tokens.
As a carrier of value for different applications of Decentralized Exchanges (DEX) and Decentralized Finance (DeFi) platforms, the token has immense utility on a global scale and will help drive Uniswap-style DEXs as well as decentralized lending markets, among many other solutions.
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