OKX Ventures, the investment division of OKX, which ranks as the second-largest crypto exchange by trading volume and a prominent player in the Web3 technology space, has announced a strategic investment in Scroll. The latter is a fully open-source platform that leverages zkRollup, a scaling solution for Ethereum that enables native compatibility for existing Ethereum tools and applications.
The investment aligns with OKX Ventures’ mission to support initiatives that boost Ethereum’s scalability using technologies like zkRollups and zkEVM, which help to ease the transaction burden on the current Ethereum blockchain by processing transactions off-chain and then returning the proofs on-chain. This results in increased throughput and cheaper costs compared to the Ethereum base layer, leading to more scalable applications that are easier to use and better suited for widespread adoption.
An Impressive Early Track Record of Success
Scroll has an outstanding track record of early success, having launched a permissionless Goerli Testnet just last week. The pre-alpha concluded with remarkable results, including over 600,000 unique addresses and over 400,000 daily transactions. Off-chain solutions, such as those being developed by Scroll, are implemented independently of Ethereum’s layer 1 mainnet, and this layer 2 solution requires no alterations to the current Ethereum protocol.
Scroll fulfills its objectives by performing computations off-chain and presenting proof of validity to the blockchain. With this architecture, token transfers and specific applications are possible. During pre-alpha and alpha testing, it is anticipated that all existing Ethereum Dapps and smart contracts will be able to transition to it without difficulty. Following subsequent development, Scroll will incorporate smart contracts for widespread usage.
The Scroll Alpha phase, which represents the final stage before the official mainnet launch, is now available to the public. The platform has already attracted 672,729 unique wallet addresses and witnessed over 2,916,472 transactions, highlighting its popularity among the crypto community. OKX Ventures is eagerly anticipating the forthcoming mainnet launch, which is expected to occur in four months, following an intensive development period led by the Scroll team and the wider crypto ecosystem.
OKX Ventures is a prominent investment entity affiliated with the globally recognized trading platform, OKX. The organization is dedicated to exploring the most innovative blockchain projects across the world, supporting cutting-edge blockchain technology, and promoting healthy growth within the global blockchain industry. OKX Ventures also strives to help blockchain entrepreneurs establish successful companies by leveraging its global resources and historical expertise in blockchain ventures. With an initial capital of $100 million, OKX Ventures is committed to investing in projects that offer long-term structural value.