Security is an incredibly important measure for cryptocurrency exchanges, just ask Binance who have been hit by two hacks this year. That is why OkEx have looked to improve its security with numerous important partnerships for their ecosystem.
Alongside the security additions, OkEx has also teased its OkChain release, saying that the testnet is imminent. Many in the industry are excited to see what OkChian will bring to the table.
Jay Hao, company CEO released the news on Twitter late last night. The tweet read:
”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!”
The importance of security can never be understated, especially in the cryptocurrency field. Exchanges and their users are often the victims of security breaches too. Just ask Binance who has been hacked twice this year and their users whose personal details were leaked. Security clearly matters.
So, who are the companies OkEx have partnered with to give its customers the option to use their services and protect them?
The first is Slowmist a company made for cybersecurity. The company has team members coming from Google, Microsoft, W3C, as well as the Ministry of Public Security in China. With reputable backgrounds and a commitment for the industry, Slowmist is an important addition to the OkEx ecology. The company has a project with OkEx called the “Security Vulnerability and Threat Intelligence Bounty Program,” which gives warnings and other important notifications so you can sleep easy at night.
The second is Beosin who focus on the blockchain side of things. Working with over 1,000 blockchain projects, the company is determined to secure blockchains from outside attacks. The third is Certik. With hacking a major issue for many in the industry, Certik have looked to have found a way to combat the thieves. They are the creator of the world’s first hacker-resistant system. After conducting more than 200 audits, and safekeeping up to $6.23 billion, they are a great addition for any OkEx user..
OkChain is about to launch soon
Hao, in his tweet also mentioned that the company is launching OkChain shortly. According to the white paper, 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.”