OKX Expands Web3 Ecosystem with Four New Inscription Standards

Leading Web3 technology firm, OKX, is set to integrate four new inscription token standards into its platform, further solidifying its position as a comprehensive Web3 ecosystem. The newly introduced standards include Atomicals (ARC-20), Stamps (SRC-20), Runes, and Dogecoin’s Doginals (DRC-20), aiming to enhance the capabilities of the OKX Wallet and Marketplace services.

We're the first-to-market with four new inscription token standards across #Web3 Wallet and Marketplace:

◼️ Atomicals
◼️ Stamps
◼️ Runes
◼️ Doginals

Details here: https://t.co/c0LAuwKrhP pic.twitter.com/wkKpHUShe8

— OKX (@okx) January 29, 2024

Starting from February 5, OKX Wallet users will enjoy full support for SRC-20, with other standards like DRC-20, ARC-20, and Runes following later in the month. Additionally, OKX Marketplace users can look forward to zero-fee transactions, making the entire experience more user-friendly.

Technical Expansion of OKX Wallet

The OKX Wallet, known for supporting inscriptions across 23 networks, including popular ones like Bitcoin and Ethereum, will now accommodate the newly introduced standards. Jason Lau, Chief Innovation Officer at OKX, expressed the company’s commitment to advancing Web3 technologies.

By empowering users to easily buy, sell, create, and trade leading token standards on one platform with zero trading fees, OKX is simplifying access and removing barriers so users can explore and realize the potential of inscriptions. He stated

Understanding Inscriptions

Inscriptions, which embed various forms of data onto the blockchain, represent a powerful technology with versatile applications. The integration of standards like BRC-20 and Ethscriptions has significantly expanded the capabilities of blockchains, introducing new functions for digital asset management. This move by OKX aligns with the broader trend of advancements in inscription technology shaping the future of Web3.

Conclusion

In addition to its technical updates, OKX emphasizes transparency and security by regularly publishing Proof of Reserves. The platform has also formed partnerships with high-profile sports and entertainment entities, including Manchester City FC, McLaren Formula 1, and the Tribeca Festival, demonstrating its commitment to enhancing user experiences beyond the technical realm.

OKX’s integration of new inscription standards marks a significant milestone in the evolution of Web3 ecosystems. The move aligns with the platform’s commitment to innovation, user accessibility, and the seamless integration of blockchain technology into various aspects of the digital landscape.

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