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 exchangeβs mobile applicationβs 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 Chainβs 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 donβt need to manage multiple native tokens.
βCoinDCX users have provided very positive feedback on the integration of Okto Chain, particularly regarding its user experience and accessibility. Weβve seen higher-than-expected engagement, reflecting a strong demand for a more user-friendly approach to Web3,β
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 networkβs upcoming native token.
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