OKC Price Chart Update [OKT]

The OKT price update as of now is $13.25. In the previous 24 hours, its trading volume was $421,237, and its value has decreased by -2.78%. As of now, OKT's live market cap is $235,998,675, and it is ranked as the #766 on the Coincu. OKT has a circulating supply of 17,807,656 and a maximum supply of 17,807,656.

What is OKC: Introduction to OKC Blockchain Technology

OKC is a public blockchain technology developed to establish blockchain-based trading applications. It is an open-source platform that aims to create a secure and efficient decentralized financial architecture. One of its key features is the ability to create a decentralized exchange (DEX) with community-based operations, rules, and regulations. This decentralized approach ensures transparency and allows users to have control over their assets.

The Role of Cross-Chain Technology in OKC Blockchain

In the blockchain world, cross-chain technology plays a crucial role in enabling the interaction between assets and data. This technology serves as the foundation for decentralized finance (DeFi) by allowing asset transfers, information exchange, and application cooperation between different blockchain platforms. By acting as a bridge between public chains, cross-chain technology facilitates the transfer of data between different blockchain networks, reducing transaction costs. It provides a simple and effective way to achieve value application, user connectivity, and scenario-based connectivity between blockchains. This lays the foundation for building a shared ecosystem and value-added system.

The Use of Cosmos SDK and Tendermint in OKC

To create OKCs, the team utilized Cosmos SDK and Tendermint. Cosmos introduces the Inter-Blockchain Protocol (IBC) and the Tendermint consensus algorithm, which features instant completion. These technologies enable the transfer of value between blockchains. In the future, Cosmos can also address issues related to the omnidirectional flow of value by adding support for heterogeneous cross-chain.

What is OKC Token (OKT): Native Token of OKC

In contrast to other blockchain exchanges like BSC or HECO, OKC does not utilize the okex exchange token OKB. Instead, it introduces a new native token called OKT. OKT is a native token issued on the mainnet of OKC. All the original OKT contained in the OKC initialization block will be allocated to OKB holders based on the OKB ratio they stake in the OKEx Jumpstart.

In terms of supply, OKT follows a model of halving the block reward after approximately three years. The current block reward is 0.5 OKT/block, resulting in a theoretical total OKT supply of around 41.69 million.

Highlights of OKC: Key Features and Advantages

• Fast and low-cost transactions: OKC enables fast and almost instant transactions with significantly lower transaction costs compared to Ethereum.
• EVM compatibility: OKC is an EVM compatible chain, allowing developers who have previously worked on Ethereum to easily start building with OKC. They can benefit from similar tools and applications.
• Existing user base and ecosystem: Okex, the parent platform of OKC, has a significant advantage in terms of its large user base. Additionally, Okex's ecosystem has already been developed, making it easier for OKC to gain traction.
• Interoperability with Cosmos ecosystem: OKC can interact with multiple blockchains in the Cosmos ecosystem through the Cosmos IBC Bridge, enhancing its connectivity and potential use cases.

*For more information on OKT, click here.