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VICTORIA, Seychelles, March 16, 2023 /PRNewswire/ -- OKX Ventures, the investment arm of OKX, the second largest crypto exchange by trading volume and a leading Web3 technology company, today announced its strategic investment in Scroll, a zkEVM-based zkRollup, Ethereum equivalent and open source, enabling native support for existing Ethereum applications and tools.
The investment is aligned with OKX Ventures' vision to support projects that improve the scalability of Ethereum by using technology such as zkEVM zkRollups to ease the transaction burden on the existing Ethereum blockchain by processing off-chain transactions and subsequently sending transactions. Try the chain again. The result is higher performance and lower costs compared to the Ethereum base layer, making applications easier to use and more scalable for mass adoption.
Scroll has an impressive track record of early success, having just launched a permissionless Goerli Testnet last week. His pre-alpha closed with impressive results of over 600,000 unique addresses with over 400,000 daily transactions at the end of January.
Off-chain solutions like the type Scroll is developing are implemented separately from the Ethereum Layer 1 mainnet, and this Layer 2 solution requires no changes to the existing Ethereum protocol. Scroll achieves its goals by running computations off-chain and sending a validity check to the chain. With this architecture, it can be used for token transfers and specialized applications. After pre-alpha and alpha testing, all existing Ethereum smart contracts and Dapps are expected to be able to migrate effortlessly. After further development, Scroll will implement general purpose smart contracts.
Scroll Alpha, the last phase before the mainnet, is now open to all and has 672,729 unique wallet addresses and over 2,916,472 completed transactions.
OKX Ventures expects to see the mainnet launch within four months, after a period of dedicated and intensive development by the Scroll team and the broader crypto community.
About Scroll
Scroll is a community-first, fully open source, zkEVM-based zkRollup on Ethereum that enables native support for existing Ethereum applications and tools.
By leading the way in cutting-edge research and building the tools for the future of decentralized applications, Scroll is committed to its vision of scaling Ethereum to 1 billion users.
About OKX Ventures
OKX Ventures is an investment institution belonging to one of the most important trading platforms worldwide: OKX. It is dedicated to exploring the best blockchain projects on a global scale, supporting the most advanced blockchain technology innovation, promoting healthy development of the global blockchain industry, and investing in long-term structural value.
OKX Ventures is also committed to helping entrepreneurs who contribute to the development of the blockchain industry build great companies and bring global resources and historical experience to blockchain projects. The initial capital of OKX Ventures is USD 100 million.
About OKX
OKX is a leading technology company in its sector, which seeks to build the future of Web3. Considered one of the fastest and most trusted crypto trading platforms by investors and professional traders around the world, OKX is the second largest crypto exchange in the world by trading volume.
OKX proprietary custody solutions include the Web3-compliant OKX Wallet, which allows users greater control of their assets, expanding their access to DEX, NFT markets, DeFi, GameFi and thousands of dApps.
OKX has partnered with several top brands and athletes: Tribeca Film Festival, English Soccer League champion Manchester City F.C., McLaren Formula 1 team, golfer Ian Poulter, Olympic medalist Scotty James and the Formula 1 driver Daniel Ricciardo.
OKX is committed to transparency and security, and publishes its Proof of Reserves every month.
For more information about OKX, download our App or visit us at: okx.com
Disclaimer
This announcement is for informational purposes only. It is not intended to constitute any type of legal, tax or investment advice, nor should it be considered an offer to buy, sell or hold digital assets. Digital asset funds, including stablecoins, carry a high level of risk, can fluctuate widely, and may even lose value. You should carefully consider whether trading or holding digital assets is convenient for you based on your financial condition. Please seek professional investment, tax or legal advice on any issues relating to your specific circumstances.
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