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OKEx Pool Becomes the Pioneer to Support the Ethereum 2.0 Topaz Test Network

2020.04.29 Vivien

OKEx Pool, a world’s leading comprehensive mining pool built upon the top cryptocurrency exchange OKEx, announced to become the first batch of largest-scale mining pools to join Ethereum 2.0 Topaz testnet as a validator, supporting the construction of ETH ecosystem.

Topaz is the only completed testnet of ETH 2.0 mainnet configuration. The launch is a key action before ETH switches its consensus algorithm from PoW (proof-of-work) to PoS (proof-of-stake).

Etherum 2.0 will bring blockchain mass adoption to the next level

Ethereum realized turing complete of blockchain, making it possible to edit and execute smart contracts, thus achieving unprecedented success and established a large ecosystem with diverse applications. However, the PoW mechanism limits the on-chain tps of ETH, which in turn made large-scale and highly concurrent applications are difficult to run smoothly on ETH and limited the expansion of the ecosystem.

ETH2.0 was born to solve this problem. After introducing the PoS mechanism, sharding, and many other technologies, the performance of ETH will be greatly improved, largely alleviating the problem of network congestion caused by low tps. What’s more, it will improve the scalability of ETH and promote more applications, including DeFi, games, ect., to join ETH, and finally achieve mass adoption of blockchain.

OKEx Pool joins the ecosystem as the first batch of validators

OKEx Pool is among the first batch of mining pools to work as validator for the Ethereum 2.0 Topaz test network and is now running stably. It’s a win-win move for big-scale mining pools to join in ETH 2.0. For ETH, OKEx pool and OKEx, the top exchange behind it will generate huge traffic while capturing the attention of a large number of users and development teams. For mining pools, betting on the ETH network will allow them to grow together and share future dividends.

 “We are glad to have become one of the first mining pools that have successfully connected with the Topaz ETH 2.0 test network. As a public chain with the largest ecosystem, ETH has brought the blockchain industry up to a new level in application expanding. We appreciate what ETH dedicated to the industry and have great confidence in the potentials of ETH 2.0,” said Alysa Xu, Chief Strategy Officer of OKEx. “We are willing to contribute to the ETH ecosystem. Actually, we have already established the collaboration with Prysmatic Lab and more specific cooperation will be carried out by us to promote the development of ETH in the near future.”

For more information, stay tuned to OKEx twitter and Press room.

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About OKEx

The world’s largest and most diverse cryptocurrency marketplace, OKEx is where global crypto traders, miners, and institutional investors come to manage crypto assets, enhance investment opportunities, and hedge risks. We provide spot and derivatives trading, including futures, perpetual swap, and options, of major cryptocurrencies, offering investors great flexibility in formulating their strategies to maximize gains and mitigate risks.

Media contact:
Vivien Choi
Email: [email protected]
Telegram: @vivienchoi

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Disclaimer: This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involve significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary.

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