Bytom and OKChain reached a cooperation to build an ecosystem in DeFi, cross-chain and other fields

Yesterday (February 18), in an online live broadcast entitled "Old Issues and New Opportunities of the Public Chain", Bi-chain researchers revealed two major events:

1. Bytom and OKChain have reached a cooperation to cooperate on nodes, DEX, cross-chain, etc .;

2. Bytom plans to open recruitment and election of federal nodes for the gateway, gradually open MOV governance rights, and open up an open financial ecosystem;

At present, MOV, the latest strategy of the original chain, has started. MOV represents Biyuan's pursuit and dedication to the future vision of decentralized finance. It presents a decentralized financial ecosystem that grows from the bottom to the upper layers. It combines high-performance consensus, a multi-layered Layer 2 architecture, Originally discrete technical features such as cross-chain, DEX, and stable finance are integrated.

"We use practical actions and products to explain to the industry how to build a complete decentralized financial ecological landscape that conforms to the law of development. What factors and difficulties need to be considered comprehensively, and we have indeed found a lot of The opportunity for people to realize this is where we are very proud and confident, and it also supports our belief that we will continue to make MOVs bigger. MOVs will succeed and BTM will succeed.

Gradually open MOV governance rights and open up the financial ecosystem

MOV is an abbreviation of three words, which respectively represent a decentralized transaction mechanism, a decentralized federal gateway framework, and a high-performance vertical side chain. This is also the achievement that the original chain will deliver to the community this year.

At that time, the election and recruitment of key roles in the three major structures will be gradually opened to the industry, releasing rights and powers, and letting everyone build a completely transparent decentralized financial ecosystem.

Specifically, when building a cross-chain key infrastructure, a decentralized federal gateway, the original research team created a modern financial-grade risk control and accounting system, which will provide transparency, security, reconciliation, and avoid data errors. The risk control guidelines take into account the entire business architecture, in addition to integrating mature MPC and practical threshold signatures and other advanced cryptographic mechanisms, making the gateway more powerful and flexible.

The technology system ultimately needs to serve the decentralized system. The original chain plans to open the recruitment of election gateway federal nodes. The project owners in various fields that can build a decentralized financial ecosystem will master the MOV ecological power, and play a win-win situation with each other. .

Biyuan Chain researcher mentioned: "We are very clear about the importance of an integrated cross-chain ecosystem entrance. If it can be done well, its significance will be comparable to that of a centralized exchange, and it is also the subject of all decentralized financial propositions afterwards. this."

Bytom and OKChain reached a cooperation agreement to explore the implementation of cross-chain cooperation in many fields

Based on the unanimous goal of building open finance, Bytom and OKChain announced that they have reached a cooperation. Bytom will work with OKChain at the source of infrastructure construction to establish an interconnected ecosystem and jointly build each other's ecology. The person in charge of OKChain's technology stated that "Beahara is our ecological partner and intends to participate in the election of OKChain nodes. OKChain and Beahara cooperate on a cross-chain, and the technical staff of the two sides are already communicating and docking."

It is reported that OKChain was launched on the testnet on February 10. OKChain is a decentralized public chain that supports various decentralized applications, allowing any user to issue their own digital assets, create their own digital asset trading pairs, and conduct free transactions.

What are the aspects of the cooperation between Bytom and OKChain?

1. Both Bytom and OKChain support DeFi applications. OKEx DEX and Bytom DEX share listing information through cross-chain technology. Based on blockchain technology and digital assets, they continue to develop distributed financial application scenarios, such as market data and blockchain browsing. And other derivatives businesses;

2. After OKEx DEX is officially launched, MOV stablecoin trading pair cooperation is also under consideration;

3. Bytom's original heterogeneous chain cross-chain solution has completed cross-chain with many chains, such as BTC and Ethereum. Next, we will conduct cross-chain cooperation with OKChain, and also discuss the IBC protocol. At present, the technical staff of the two sides have docked;

4. Bytom intends to participate in the election of OKChain nodes and jointly build a "commercial chain alliance" with an open mind. Blockchain technology and financial services are inherently highly compatible.DeFi has received continuous attention since its birth and has inspired unlimited creativity. However, the current DeFi network still operates in an isolated ecosystem, and mutual assets form an island of value, making multi-asset interoperability difficult. Biyuan's MOV cross-chain protocol is the key driving force for DeFi to enter the 2.0 era, allowing digital assets to truly flow freely. The cooperation between Bytom and OKchain reflects the determination of the two open ecosystems to build a win-win situation, hoping to lead distributed open finance into a new phase.

We will continue to update Blocking; if you have any questions or suggestions, please contact us!


Was this article helpful?

93 out of 132 found this helpful

Discover more


Coinbase: Safer to ASIC-friendly PoW coins, anti-ASIC will only lead to mining centering

Recently, the digital asset trading platform Coinbase has changed the number of confirmation requirements for the fou...


From the perspective of "de-dollarization" in Web3, speculate on the ultimate form of currency in the future

From a technical perspective in the field of Web3.0, there are mainly two paths to "de-dollarize". One is to increase...


South Korea is enacting a cryptocurrency bill, virtual currencies will be classified as digital assets

According to the news, the Korean National Assembly is working on a bill to provide a legal basis for cryptocurrencie...


Encrypted Money Investment Revelation: Why is the Black Sheep a billionaire?

Foreword: This is a very thick chicken soup, but that's why some people are better than others. Whether it'...


Why aren't institutional investors coming in? What are they worrying about?

Source: Medium Author: Cristián Bohn Translator: Xin Nan Produced by: Odaily Planet Daily Lawyer Reviews | FCoin...


Can you make money in the cryptocurrency market by means of news?

First of all, as an individual investor, the currency market is definitely a relatively weak one. Investment is actua...