Indian crypto exchange CoinDCX has integrated with Okto Chain, an orchestration layer designed to simplify Web3 for both users and developers.

What is Okto Chain?

Okto Chain offers a suite of easy-to-use software development kits (SDKs), allowing developers to integrate Web3 functionalities into their applications. This enables a smoother user experience similar to Web2 applications.

Key Features of the Integration

With the recent integration, CoinDCX users can access 50,000 tokens within the exchange’s mobile application’s Web3 mode. This includes major ecosystems like Polygon, Binance Smart Chain, Solana, Base, and 10 other chains.

Users will also benefit from:

  • On-chain rewards
  • OKTO airdrops
  • Self-custody services within the app
  • Okto points for every Web3 transaction

Cross-Chain Interactions and Simplified Transactions

Okto Chain’s chain abstraction facilitates interactions across multiple blockchains. CoinDCX users can perform cross-chain token swaps and multi-chain identity verification seamlessly.

Notably, the Web3 mode allows users to use INR without needing additional wallets. This means users can directly buy tokens like ETH and Matic using fiat currency. All gas fees in these transactions are automatically handled by the orchestration layer, so users don’t need to manage multiple native tokens.

“CoinDCX users have provided very positive feedback on the integration of Okto Chain, particularly regarding its user experience and accessibility. We’ve seen higher-than-expected engagement, reflecting a strong demand for a more user-friendly approach to Web3,”

said Neeraj Khandelwal, co-founder of CoinDCX.

Technical Aspects of Okto Chain

Okto Chain is a zero-knowledge roll-up chain secured by a decentralized set of Proof of Stake (PoS) validators. It integrates Decentralized Wallet Networks (DWNs) and Decentralized Transaction Networks (DTNs).

  • DWNs manage unified wallet accounts secured by Multi-Party Computation, facilitating delegated signing and permissions across various blockchains.
  • DTNs handle asynchronous transaction orchestration, managing tasks like nonce management, gas-fee estimation, and transaction lifecycle management across multiple chains.

Accessing the Okto Ecosystem

Besides the CoinDCX app, the Okto Chain ecosystem can be accessed via the Okto wallet. Launched in 2022, the wallet provides users access to over 100 decentralized apps (dApps) and 20+ blockchains. The wallet also allows users to hold the OKTO token, the blockchain network’s upcoming native token.

Stay updated with the latest trends and news in the cryptocurrency world on Global Crypto News.

Post Views: 3