CoinDCX, a prominent Indian cryptocurrency exchange, has introduced the Okto Orchestration Layer and Okto Chain to simplify blockchain integration and enhance web3 usability across various ecosystems. The Okto Chain provides users with a seamless experience similar to web2 platforms by utilizing chain abstraction. This layer supports developers in creating advanced web3 applications without dealing with the complexities of each blockchain. The Okto Chain also offers SDKs and access to a library of pre-built Blocs for efficient application development.
The newly introduced OKTO token plays a crucial role in maintaining network security and supporting the chain's growth. With over one million users on the Okto Wallet App and over 20 decentralized apps being developed, the chain is gaining traction. CoinDCX has also launched the Okto Wallet points program to reward users for their transactions on the chain.
The public Okto chain aims to be secure and decentralized, promoting a wider participation of validators. The Okto SDK simplifies the development process for new blockchain users, addressing challenges such as nonce management and multi-chain coordination. Although the Okto chain does not aim to directly compete with established chains like BNB Chain, it is designed to complement them.
Long-term sustainability mechanisms, such as staking and rewards, will be detailed in the version two release of the Okto ecosystem's whitepaper. The Okto chain utilizes asynchronous batching of transactions and scalable modular infrastructures within the blockchain, enhancing its efficiency and scaling capabilities.
