OKB/OKB#37 31

What Is OKB(OKB)?

OKB is the primary cryptocurrency of the OKX exchange, formerly known as OKEx. It is one of the largest exchanges in the world, known for its high liquidity and trading volume and wide range of trading pairs.

The OKX exchange was launched in 2017 in Hong Kong by Star Xu (CEO) & his team members, Jeff Ren (CIO), Haider Rafique (CMO), Tim Byun (Global Government Relations Officer), Lennix Lai (Managing Director) and Hong Fang (President) and also OKX is owned by OK Foundation, OKX headquarter based in Victoria, Seychelles announced currently active in over 100 countries.

OK Blockchain Foundation launched the OKB coin in 2018, originally on the Ethereum platform but moved to its own OKX blockchain with a total supply of 300 million coins and a circulating supply of 60 million tokens. The value of OKB increases through quarterly token burns conducted by OKEx, with the results of these burns posted on the official website.

OKX exchange facilitates spot trading, trading fee discounts, token sales, staking, participation in governance, payment methods, and investment. 

How Does OKB Work?

OKB operates on its own OKX’s blockchain using a proof-of-stake consensus mechanism, within the OKX platform includes discounts on transactions, such as trading or transferring tokens. 

Transactions are then broadcasted to a network of nodes for validation, legitimacy of translation is verified by nodes based on consensus rules, ensuring sufficient funds in the user's account. Verified transactions are grouped into blocks, created, and added to the blockchain. The transaction involves a smart contract, and the contract’s code is generated users can interact with dApps built on OKExChain, engaging in staking or voting in governance. 

OKB Coin History

• The OKB coin was launched on 24 July 2017 on its platform, OKX, raising 100 million tokens at $1.00.

• OKB (OKB) token reached an all-time high of $ 73.80 on Mar 14, 2024, and an all-time low of $ 0.58 on Jan 14, 2019.

• To convert OKB to USD, you can utilize Coinpedia’s converter https://markets.coinpedia.org/okb/

Where can I buy OKB

Centralized Exchanges: The best exchanges support OKB for swapping or trading, some of the best exchanges are OKX, Gate.io, MEXC, BingX, BitMart, LBank, Pionex, CoinW, and Bitrue.

Decentralized Exchanges (Dex): OKB coin is swapped or traded on Dex like UniSwap, CherrySwap, and Vitex.

Wallets That Support OKB

Hardware Wallets: OKB coin can be stored in hard wallets like Ledger Nano X, SafePal S1, Trezor Safe 3, Tangem wallet, Keystone 3 Pro, and BitBox 02.

Software Wallets: The application or software supporting storage of OKB coin includes Meta Wallet, OK Wallet, Enkrypt, Guard, Atomic Wallet, and Trust Wallet.