We began 2019 with one of the most exciting milestones yet for the OAX project. After much anticipation, last month our technology team deployed the layer 2 solution they have been working on over the past year onto the Rinkeby testnet.
This is a significant development as the solution is now available for the rest of the industry to test! It addresses one of the biggest challenges facing the development of digital asset trading — performance. The demo we released earlier shows it is able to handle over 1,000 transactions per second on a single node. For more details, click here.
As mentioned when we announced the testnet deployment, we’re now working to find potential industry partners to operate the finished platform. At the same time, we’re still very much committed to our end-goal, which is to bring digital asset trading to the mainstream!
Another important development for OAX Foundation over the past few months is that as our project progresses and reaches new milestones, we have gradually received more media attention. Our management team — from General Manager, Amanda Liu, to General Counsel, Paul Li, to Technology Director, Wayland Chan — have spent time doing press interviews that have resulted in coverage from a variety of publications. These range from mainstream newspapers such as Hong Kong’s Ming Pao, to industry specialist Crypto Briefing and DigFin, which focuses on news about fintech in Asia.
February also sees us wrapping up the OAX airdrop. At the time of publication, our team has successfully finished the distribution of the airdrop tokens to all eligible participants. Once again, we would like to thank all our loyal supporters for taking part in the campaign!