New Venezuelan Crypto "Petro Gold" Announced

According to president of Venezuela, Nicolas Maduro, new coin will be backed by gold
22 February 2018   631

Two days after the beginning of "petro" presale, which already raised 735 million dollars, Venezuelan President Nicholas Maduro announced another crypto currency, provided with a resource of raw materials. This is reported by the Reuters

The new digital token will be called "petro gold" - instead of oil it will be provided with precious metals.

Next week I‘m going to launch the petro gold, backed by gold, which is even more powerful, that will strengthen the petro.

Nicolas Maduro

President, Venezuela

It is not yet clear which gold will support the "petro gold" - it can be either gold already mined or gold still lying in the bowels of the country. No details about the new currency, except that it will be launched next week, has not yet followed. However, this announcement is unlikely to help "petro" and the Venezuelan government, which is criticized literally from all sides.

In the "petro" many see a poorly thought-out solution aimed at stimulating the weakening economy of Venezuela, where the currency has been in free fall for several years, and inflation has reached 600%. Some financial experts even refer to Venezuela's "oil" crypto currency as a "trick" and "counterfeit currency."

OKEx to Launch OKChain Based Decetralized Exchange

Great role in the upcoming exchange will be played by OKB coin, which will be trasfered to OKChain as soon as its development finished
22 March 2019   79

OKEx cryptocurrency exchange will launch a decentralized trading platform on its own blockchain.

Currently, the OKChain blockchain is in the final stages of development, and its test network may be launched as early as June 2019. When the OKEx blockchain becomes stable enough, it will transfer OKB to it, which will then perform the function of the native OKChain token and be used to pay commissions, as well as in its own decentralized network applications.

The primary purpose of OKChain is to launch the OKDEx decentralized exchange, where the OKB token will be used to participate in presales. In addition, project teams will use OKB tokens to pay the service fee to the super nodes of the network.

While the total volume of OKB emissions is 1 billion, 300 million tokens are in circulation today, and 700 million remain blocked. Of this number, 300 million OKB will be distributed to users through the loyalty program, and 400 million belong to the OK Blockchain Foundation and the exchange team. However, for a more efficient formation of the OKB ecosystem, the blocking period of these 700 million tokens will be extended from 2020 to 2022, writes OKEx.

In addition, OKB will be the only token to be accepted during the initial exchange offerings (IEO) on the OK Jumpstart platform, announced earlier this month. According to the company, it is currently negotiating with various projects and will soon announce the launch of the first IEO on OK Jumpstart, for which investors will be admitted who have passed personal verification and have OKB tokens in their accounts.