Subject: VEN
OKX Ventures Announces Strategic Investment in 0G, Accelerating On-Chain AI Evolution
SINGAPORE, March 26, 2024 /PRNewswire/ -- OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, is pleased to announce that it has invested in 0G, formerly known as Zero Gravity, which offers state-of-the-art Data Availability (DA) and storage solutions.
The first modular AI chain has revolutionized the launch of decentralized AI apps by providing the fastest DA layer. 0G Labs bridges the gap between Web2 and Web3 data speeds and costs, enabling new use cases such as on-chain AI, on-chain gaming, and high-frequency DeFi. Its architecture supports horizontal scaling, offering the fastest DA with a throughput of 50GBs per consensus layer. This leads to costs that are 100 times cheaper than existing systems.
DA serves as the linchpin for blockchain scalability, balancing decentralization and security. DA strategies are diverse, grounded in differing data storage use cases, on-chain data storage, off-chain execution processes and hardware node upgrades. Noteworthy developments like Proto-Danksharding and EIP-4844 address DA needs for Ethereum rollup solutions, including rollups, optimistic rollups and zero-knowledge rollups.
OKX Ventures invested in 0G due to its unique and efficient approach to DA in the blockchain space. 0G's modular stack is a layer 1 design that offers a promising solution to the challenges of scalability, security and decentralization. It allows for settlement on all leading L1s such as Ethereum and execution on leading layer 2s or app chains. This investment aligns with OKX Ventures' commitment to fostering innovation and advancement within the blockchain technology ecosystem.
OKX Ventures Dora Yue said: "As Polygon's original DA provider, 0G is dedicated to providing the most modular and unrestricted infrastructure. Our support aims to position 0G as a leading DA provider, offering programmability, security and high performance for diverse Rollup-as-a-Service (RAAS) and AI scenarios in the coming years. We eagerly anticipate the launch of its testnet this year."
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About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX, with an initial capital commitment of USD100 million. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.
Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.
Find out more about OKX Ventures here.
SOURCE OKX Ventures
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