What is OKTC public chain

OKTC is a set of open source blockchain application public chains developed by Ouyi. It aims to establish a safe and efficient DeFi infrastructure and create a community-based operation, transparent transaction rules and user assets controlled by themselves. Centralized exchange platform (DEX). OKTC Quick Entrance

OKTC is a set of open source blockchain application public chains developed by Ouyi to establish safe, With the goal of efficient DeFi infrastructure, we create a decentralized trading platform (DEX) with community-based operations, transparent trading rules, and user assets controlled by themselves. OKTC Quick Entry

We know that cross-chain technology is a key link in realizing asset and data interaction in the blockchain world, and it is the technical foundation of DeFi. The so-called cross-chain is to realize asset transfer, information exchange and application collaboration between different blockchain platforms. It is similar to a bridge between different public chains, realizing data transmission between different blockchain networks and greatly reducing Transmission costs. Through the cross-chain module, the value interconnection, user interconnection and scene application interconnection of the blockchain can be realized simply and effectively, thereby jointly building an ecosystem and value-added system.

Therefore, OKTC is based on Cosmos’ Tendermint mechanism and Cosmos SDK is built. Cosmos proposed a cross-chain interaction protocol IBC (Inter-Blockchain Communication protocol), Combined with the instant certainty of the Tendermint consensus algorithm, value transmission between blockchains can be realized. In the future, it will also support heterogeneous cross-chain methods to solve the problem of multi-directional circulation of value.

On February 10, 2020, the OKTC test network was officially launched, and for the first time it disclosed the five major ecological directions of OKTC’s future development: first, issuing digital assets; second, independently building a decentralized exchange; Third, release DeFi applications; fourth, run smart contracts to realize self-operation in the blockchain era; fifth, carry BTC cross-chain and other digital asset expansion and linking and other related functions.

At 20:00 sharp on January 15, 2021, the OKTC mainnet was launched on time, with a total of 21 super nodes and 10 candidate nodes.

On July 28, 2021, OKTC officially launched the third phase of mainnet ecological construction. In the third phase, OKTC is open to all developers, and anyone can freely deploy projects on the chain. In just 48 hours after the start of the third phase, TVL on the OKTC chain has exceeded 1.8 billion US dollars, which shows the support and affirmation of the community and users for the future ecological development of OKTC.

As of August 31, 2021, the total number of transactions on OKTC’s current chain is 25,867,371, an increase of 368% from the previous month; the cumulative number of proposals is 44, and the number of currency holding addresses is 1,032,414, an increase of 282% from the previous month; Go The number of contracts after the resumption was 7,595, an increase of 164% from July.

Risk warning:

OKTC is an open source, open decentralized public chain, and anyone can freely deploy projects. From the principle of blockchain technology, Oyi cannot control the quality of any project on OKTC, nor will it endorse or be responsible for any project.

There are certain risks when using any project on a decentralized public chain. Users need to identify the quality of the project themselves and be responsible for their own choices to avoid financial losses.

Before participating in any project on OKTC, you need to know:

1. Before using any project on OKTC, please confirm that you understand all the designs behind it and are willing to bear its risks ;

2. All users and developers can participate in OKTC’s mainnet and testnet for free, and OKTC will not charge any fees;

3. Please be sure to distinguish between the OKTC test environment and the mainnet. Internet environment, all assets in the test environment have no value, beware of fraud;

4. When using any project on the OKTC chain, please be sure to manage your private key and do not use it for any purpose. Do not disclose your private key to others, and be careful when authorizing to third-party projects.

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