Bitcoin has experienced 11 years of development, and the blockchain industry has also developed for 11 years. In the past 11 years, blockchain practitioners have made various innovative attempts. Some have improved the capacity of Bitcoin, such as Bitcoin Cash (BCH), updating the block size to 8mb. Some extend functions based on the Bitcoin mechanism, such as the smart contract of Ethereum. Some have similarly promoted the form of Bitcoin digital currency in the economic field, such as attempting to model economics in various industries.
After so many attempts, historical development proves that the best application scenario of blockchain technology is still in the financial field. The specific point is the "transaction" of digital currency. The ICO model in 2017 subverted the financing model of traditional finance, enabling small and medium investors to participate in the distribution of share tokens in the primary market. DEFI (Decentralized Finance) in 2020 enables small and medium-sized investors to do what market makers do and earn profits by providing liquidity. And the root of all these innovations is "transaction". The aggregation of ICO funds and the distribution of tokens are transactions, and the provision of liquidity by DEFI for financial derivatives services is a transaction.
In the past development history, projects that are closely integrated with "transactions" have developed the fastest and most steadily, and have become the main body of the entire industry. Such as encrypted exchanges, mining machine manufacturers, and mining pool service providers. These are either directly providing "transaction" services themselves, or providing "transaction" products in disguise. On the other hand, those projects that are far away from "transactions" will eventually fail in the link of transactions. The most obvious thing is that after the token exchange, the price of the currency fell into a slump, which became an important turning point for the decline of the project. Speaking of the key points, centralized exchanges have played a leading role in the past development history. Not only because of the maturity of its casino model, but more importantly, the exchange is the closest place to "trading".
With people's awareness of digital currency and understanding of the spirit of Bitcoin, people's requirements for "transactions" will become higher and higher. Although centralized exchanges will exist for a long time, a decentralized financial system is the future. People will be aware of and value the security of their own assets and the transparency and security of transactions. The new financial system in the future must also be decentralized.
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OKChain? What is OKChain?
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OKChain features?
(1) High-performance public chain: a high-performance transaction public chain specially optimized for transaction scenarios;
(2) Complete decentralization: anyone can run to become an OEC super node;
(3) Community-driven: Complete community autonomy, the development direction of OEC is determined by OKT holders through on-chain proposals;
(4) Openness: Anyone can create their own digital assets, trading pairs and liquidity pools based on OEC;
(5) Extreme compatibility: EVM will be supported in the future, compatible with all smart contracts of Ethereum;
(6) Cross-platform: OKExDEX desktop version supports multiple operating systems, and lowers the threshold for blockchain use through friendly interactive design;
(7) OKEx cross-chain gateway: OKEx will launch a cross-chain gateway to support the migration of various mainstream assets to OEC;
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What does OKChain present as a product?
OKEx Dex
DEX is a decentralized trading platform issued by OKEx based on OEC. There are two types of DEX transactions, order book and swap. Let users have higher asset control rights and manage their own assets more freely. It supports functions such as wallet management, issuance of digital assets and trading pairs, creation of liquidity pools, etc. It facilitates users to use various types of DEX products through a friendly UI, and will support more derivatives transactions in the future.
AMMSwap module of OKEx Dex
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The latest development of OKChain?
(1) The OEC testnet has been upgraded to v0.15.0;
(2) OEC Swap: The first phase of development and testing has been completed;
(3) EVM smart contract: OEC is compatible with the EVM smart contract, the code has been integrated, and the chain startup, deployment of blocks, and abci interface testing can all run normally.
(4) The OEC liquidity mining farm function has completed the system test, and the OEC precision has been upgraded from 8 digits to 18 digits.
What is OKT? OKChain adopts the Dpos consensus mechanism. Based on the needs of the Dpos consensus mechanism, OKT was launched as the basic token of OKChain. OKChain's basic token OKT, its genesis block TOKEN 100% is distributed to OKB holders through OKEX Jumpstart.
OKB holders will have the opportunity to become super nodes on OKChain in the future, to build an ecosystem and share technological innovations.
OKT is the value carrier of the OKChain ecosystem. It will independently operate the underlying token of OKchain, and by making OKchain more powerful, it will empower the large ecosystem of OKEx. The mission of its existence is to promote the growth and prosperity of OKChain. The expected requirements for OKT can be compared with top-level public chain projects, such as ETH and EOS.
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Why is OKT the key?
The new financial system in the future must be decentralized. The so-called decentralization does not mean that there is no center, but that the original center is dispersed to multiple small centers, and the rights of each small center are transparent and the same. How to achieve such decentralization, one is to realize the decentralized main network nodes technically, and at the same time to disperse the rewarders of the benefits. The DPOS mechanism realizes the decentralization of such benefits, and the carrier is OKT.
OKT is an important driving force for the immediate launch of the main network, and it is also a driving force for the development of OKChain. If you are optimistic about the development trend of decentralized transaction finance, then you need to participate and hold OKT to truly grasp the future trend.
