Cryptocurrency exchange, OKEx announced to its community that it has entered into partnerships with at least 3 blockchain firms. The news was made public by the exchange’s CEO, Jay Hao after tweeting about the new partnerships, making promises of several inbound developments at OKEx.
OKEx Partners With Three Security Centered Blockchain Firms
The popular cryptocurrency exchange, according to Jay Hao is on a development spree in which it plans to present a couple of use cases for its native cryptocurrency, OKBuild (OKB). The CEO also revealed the partnership his exchange platform has entered into with a few other blockchain firms, three among which are security centered establishments. Among the names already mentioned by Jay Hao are, Slowmist, Beosin, and Certik.
So much to announce for $OKB this week! Other than the upcoming launch of #OKChain, we've just added numerous use cases for the @OKEx native token. I'll announce the first 3 here today, more to come this week!#OKBuild pic.twitter.com/NyW1106U0J
— Jay Hao (@JayHao8) October 22, 2019
Slowmist is a blockchain establishment that focuses on cybersecurity. The cybersecurity firm entered into a partnership with OKEx and launched a “Security Vulnerability and Threat Intelligence Bounty Program.” According to arrangements, the highest level of rewards slated for the detection of a serious vulnerability in the bounty program can reach $10,000.
Similarly, Beosin also focuses on blockchain security and was said to have provided its security services to over 1,000 blockchain projects. And Certik is the creator of the world’s first hacker-resistant system. Having conducted more than 200 audits, Certik was said to have secured up to $6.23 billion.
OkChain In View
The news comes amid anticipation of OKChain, OKEx’s native blockchain. According to the project’s whitepaper,
“OKChain is a new blockchain network that fully supports state sharding and fast consensus. In OKChain, the entire network is divided into multiple shards, each shard maintains an independent ledger, and can handle conflict-free transactions in parallel; a fast consensus algorithm based on threshold signature is used in a shard, achieving efficient block production without forking.”
OKEx has been up to a couple of developments lately. Early on in October, the exchange platform announced its intention of establishing a Self-Regulated Organization, SRO, an initiative that seeks the corporation of other crypto exchanges in order to standardize exchange practices and policies. Further, the exchange got featured and outranked bigger platforms like BitMEX and Binance on a list of “Top Futures Exchange By Trading Volume” rankings that appeared on a couple of platforms like Bloomberg at the time.