On April 18, 2024, OKX, a leading Web3 technology company and virtual asset exchange, announced a groundbreaking collaboration with the Hong Kong University of Science and Technology (HKUST) to jointly research the practice of zero-knowledge (ZK) proof technology and the development of new encryption protocols. These technological breakthroughs aim to enhance the scalability and efficiency of ZK decentralized exchanges (ZKDEX).
This collaboration aligns with the Hong Kong government’s recent focus on Web3 and confirms the shared commitment of OKX and HKUST to accelerate Web3 innovation and support the development of the local Web3 ecosystem. Under the leadership of Professor Dimitris Papadopoulos, the HKUST team has accumulated rich technical knowledge and outstanding achievements in cryptography, ZK proofs, and artificial intelligence. Combined with the OKX Web3 team’s extensive theoretical and practical experience in blockchain and virtual assets, this collaboration is expected to translate cutting-edge blockchain technology into practical business applications and potentially have a significant impact on the development of the entire blockchain industry in Hong Kong and globally.
Jason Lau, Chief Innovation Officer of OKX, stated, “OKX is constantly innovating and committed to introducing emerging technologies to the market. We have already used ZK technology to improve user privacy and scalability with our reserve proof reports and X Layer second-layer network. Now, we are excited to further explore the benefits of ZK proofs through research collaboration with HKUST and enhance scalability to bring new benefits to users, increasing their exposure to Web3. We look forward to seeing the results of this collaboration.”
Professor Dimitris Papadopoulos, Associate Professor of the Department of Computer Science and Engineering at HKUST, said, “HKUST strongly supports the Hong Kong SAR Government’s vision of making Hong Kong an international center for Web3 and virtual assets. To achieve this goal, we need to not only enhance public understanding and usage of relevant technologies but also persistently promote technological progress and innovation. Collaboration with OKX, a global Web3 technology company, takes us further towards this goal.”
About OKX:
OKX is a leading technology company dedicated to building the future of Web3. OKX has developed virtual asset applications that combine speed and reliability, and is highly favored by over 50 million global investors and professional traders. OKX’s industry-leading self-custody solutions include the OKX Web3 wallet service, which allows users to have control over their virtual assets while exploring DEX, NFT markets, GameFi, and thousands of dApps. OKX works closely with world-class brands and athletes, including English Premier League champions Manchester City F.C., McLaren F1 Team, Tribeca Festival, golfer Ian Poulter, and Olympic snowboarder Scotty James. OKX is committed to transparency and security and publishes its reserve proof report monthly. For more information about OKX, please download our app or visit okx.com.
About the Hong Kong University of Science and Technology:
The Hong Kong University of Science and Technology (HKUST) is an internationally renowned research university that excels in science, engineering, business administration, and humanities and social sciences. With an internationalized campus, HKUST provides a holistic education and interdisciplinary research, nurturing talents with international perspectives, an entrepreneurial spirit, and innovative thinking. Over 80% of HKUST’s research was rated as “international excellence” or “world-leading” in the University Grants Committee’s “2020 Research Assessment Exercise” in Hong Kong. In the latest Times Higher Education Global Young University Rankings 2023, HKUST ranked second, and its graduates ranked 29th in the world in the 2023 Global University Employability Ranking, placing it among the top Asian institutions. As of September 2023, members of HKUST have established 1,747 active start-up companies, including nine unicorn companies and 13 successful exits (listed or acquired), creating over HKD 400 billion in economic value. The Investment Promotion Agency recently cited the “2021 QS World University Subject Rankings” to showcase the performance of the five local universities ranking among the top 100 globally in various innovative fields, with HKUST leading in four engineering and materials science fields among local universities.
Disclaimer:
This announcement is for reference only. This announcement does not intend to provide any investment, tax, or legal advice and should not be considered as an offer to buy, sell, or hold virtual assets. Holding virtual assets, including stablecoins, carries high risks, and market volatility can be significant, and you may even lose the entire value of your assets. You should carefully consider whether you are suitable to trade or hold virtual assets based on your financial situation and risk tolerance. OKX does not provide any investment or asset advice. You are solely responsible for the investment decisions you make, and OKX will not be held responsible for any losses. Past performance is not indicative of future results. If you have any questions regarding your specific situation, please consult your legal/tax/investment expert.