Cryptocurrency exchange Okcoin has announced that it is partnering with Stacks Accelerator and Stacks Foundation to launch Bitcoin Odyssey, a $ 165 million funded plan that aims to push Bitcoin by Ethereum as a startup blockchain for decentralized applications.
The notion is to assistance carry all aspects of Web3 like DeFi, NFT, DAO and metaverse to Bitcoin. Until now, Ethereum has often existed as a major blockchain in generating dApps. But some Bitcoin developers desired to see that transform, so the Bitcoin Odyssey plan was born with a mission to obtain this.
We are cooperating with @StacksStartups & venture spouse to type the up coming chapter of #Bitcoin. We get in touch with this energy Bitcoin Odyssey.
Together we are pledging $ 165 million for decentralized app advancement tasks $ BTC & @Pile.
To know extra:https://t.co/iMg88i6zBS
– Okcoin (@Okcoin) March 11, 2022
On the Stacks side, this is a platform founded in 2016 by Muneeb Ali and Ryan Shea, an open supply protocol for developers to put into action sensible contracts (automated activity execution software package) and NFTs on the Bitcoin blockchain. In January final 12 months, Stacks launched its core network, taking the STX undertaking token to attain its optimum industry capitalization of $ three.seven billion.
However, with the recent weak industry functionality, STX’s capitalization rapidly fell to $ one.84 billion. However, prior to the announcement of the launch of the Bitcoin Odyssey plan, STX grew to become the unusual coin right now to increase up to 32.two%, trading at USD one.four at press time.
In addition to getting funding, tasks chosen for Bitcoin Odyssey will obtain direct help from respected organizations in the cryptocurrency field. The Bitcoin Odyssey initiative is co-hosted by Alex Chizhik, head of Okcoin, and Kyle Ellicott, spouse of Stacks Accelerator. Some other prominent representatives incorporate Digital Currency Group, GSR, and White Star Capital, all of which will allocate money and assets to Stacks-based mostly tasks.
Additionally, Bitcoin Odyssey will also assistance fund CityCoin-oriented tasks this kind of as MiamiCoin (MIAMI) or New York Coin (NYCCoin), also formulated working with the Stacks protocol launched late final 12 months.
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