OKB (okb) Price Index

Developed by the OK Blockchain Foundation and the OKEx exchange in Malta, OKB is a new cryptocurrency. In terms of trading volume and liquidity, it is one of the world's largest exchanges and currently ranks third in liquidity and fourth in trading volume. However, there are some important distinctions between OKEx and the cryptocurrency exchange Binance. There is a cloud mining service built into the OKEx platform, and the company focuses on options trading for consumers. As a result, Binance is working to provide a wide range of crypto-related services around the world.

This cryptocurrency exchange's unique features can be accessed by purchasing the OKB utility token. It is used to compute and pay trading fees, offer users voting and governance rights on the platform, and reward users for holding OKB tokens

Since its inception in 2017, OKEx has established itself as a world-class trading venue. An extension from the main OKCoin platform was launched in spring 2017. (operating since 2013 in China). OKCoin has shifted its focus to fiat-to-crypto exchange, while OKEx has shifted its attention to crypto trading via an API for algorithmic trading. Users can also access a multi-currency wallet and margin trading features on the exchange.

 OKB Founder?

Jay Hao has been CEO of OKEx from the start, and he still has that job. Hao has worked in technology and engineering his whole life. He has been paying attention to the blockchain industry for a long time, focusing on blockchain-based apps for video streaming and mobile games. Hao worked in the semiconductor industry for twenty years before he joined OKEx. He has made a wide range of codecs, including UVLED, ASIC, FPGA, and multimedia codecs and SOCs for multimedia processors. During this time, Hao got a lot of good product development and management experience.

Mingxing "Star" Xu is another important member of the management team. He started OKCoin in China in 2013 and has become well-known in the business world. In 2017, Xu helped start the separate OKEx exchange in Malta, which has its own legal entity and is run by a different company. Xu is the CEO of the OK Group as of today.

What Makes OKB (OKB) Unique?

In the OKEx ecosystem, the OKB token is very important. It lets people get up to a 40% discount on their purchases (depending on the number of tokens a user has). There are two types of users on the exchange: regular and VIP. Regular users get a level based on how much OKB stock they have, while VIP users get a level based on how much they trade. The commissions are updated every day, and different users get different discounts based on their level.

If a platform member has OKB tokens, which are used in OKEx Earn, they can get passive income (this project helps users earn on their assets). The OKB token is also used to divide up funds on the OKEx Jumpstart platform. After registering on the site, you can take part in Jumpstart. Sales are then made through MixTrust.

OKB is the asset that is built into the OKExChain (the OKEx blockchain). On the chain, the OKB token is used to help with spot trading, derivatives trading, and the development of multiple scalable apps at the same time. A layered architecture also shortens the time it takes to reach a decision, makes it easier to scale, and makes security better.

OKEx regularly burns OKB tokens every three months. This is done to add value to OKB and make the digital coin more appealing to people who own it. OKEX uses 30% of the money it makes from commission fees for this step. On top of that, new users get bonuses when they sign up.

How Many OKB Coins Are in a Currency?

Binance Coin is a lot like the global utility token (BNB). Half of the money made from service fees goes to token holders in proportion to their OKB balance. OKB holders have the right to vote on the platform, the ability to invest, and the ability to trade on OKEx.

There are a total of 1 billion OKB on the market, which are divided as follows:

40 percent goes to the founders and the project, 10 percent to the investors, and 50 percent goes to Airdrops and rewards.

700 million OKB are locked until 2022. This means that in 2021, there will be a total of 300 million tokens.

The extra 700 million OKB that will be made available in 2022 will be given out as follows:

Early investors get $100 million, the founding team keeps $200 million, $100 million goes to the OK Blockchain Foundation, and $300 million is left for public awards.

How does the OKB Network stay safe?

The coin is an ERC-20 token that uses a proof-of-stake (PoS) consensus. OKB used the Ethereum blockchain, but the company later switched to its own blockchain, called the OKExChain.

OKEx is a platform that is very open. OKEx's developers say that security is their top priority and that they work hard to keep the trading environment stable and reliable. For security, they use load balancing, distributed clusters, and other technologies.

OKEx has also made both "hot" wallets and "cold" wallets. Cold wallets are one of the safest ways to store cryptocurrencies. But when it comes to security and capabilities, hot wallets need the most care. So, OKEx added a semi-autonomous multi-signature feature that lets transactions happen quickly, easily, and safely.