OKX collaborates with HKUST on Hong Kong's first zero-knowledge blockchain technology research
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OKX collaborates with HKUST on Hong Kong's first zero-knowledge blockchain technology research
This collaboration aligns with the Hong Kong government's recent emphasis on Web3, and demonstrates OKX's and HKUST's shared commitment to accelerating Web3 innovation and supporting the development of the local Web3 ecosystem.
Navigating Web3 tides with focused insightsApril 18, 2024 – OKX, a leading global Web3 technology company and digital asset exchange, today announced a pioneering collaboration with The Hong Kong University of Science and Technology (HKUST) to jointly research practical applications of zero-knowledge (ZK) proof technologies and develop new cryptographic protocols. These technological advancements aim to enhance the scalability and efficiency of ZK-based decentralized exchanges (ZKDEX).
This partnership aligns with the Hong Kong government’s growing emphasis on Web3 in recent years and underscores the shared commitment of OKX and HKUST to accelerating Web3 innovation and supporting the development of Hong Kong’s local Web3 ecosystem.
Led by Professor Dimitris Papadopoulos, the HKUST team brings deep technical expertise and outstanding achievements in cryptography, ZK proofs, and artificial intelligence. Combined with OKX’s Web3 team’s extensive theoretical knowledge and practical experience in blockchain and digital assets, this collaboration has the potential to transform cutting-edge blockchain technologies into real-world commercial applications, potentially making a significant impact on the blockchain industry both in Hong Kong and globally.
Jason Lau, Chief Innovation Officer at OKX, said: “At OKX, we are constantly innovating and committed to bringing emerging technologies to market. We’ve already leveraged ZK technology in our Proof of Reserves reports and our Layer-2 network X Layer to improve user privacy and scalability. Now, we’re excited to further advance the benefits of ZK proofs through our research collaboration with HKUST, enhancing scalability and delivering new user benefits that broaden access to Web3. We look forward to seeing the outcomes of this partnership.”
Professor Dimitris Papadopoulos, Associate Chair Professor in the Department of Computer Science and Engineering at HKUST, said: “The Hong Kong University of Science and Technology strongly supports the vision of the Hong Kong SAR Government to establish Hong Kong as an international hub for Web3 and digital assets. Achieving this goal requires not only increasing public understanding and adoption of these technologies but also relentless pursuit of technological advancement and innovation. Our collaboration with OKX, a global leader in Web3 technology, brings us one step closer to realizing this vision.”
About OKX
OKX is a leading technology company building the future of Web3. OKX offers fast and reliable digital asset applications trusted by over 50 million users worldwide, including investors and professional traders. Its industry-leading self-custody solutions include the OKX Web3 Wallet service, empowering users to take control of their digital assets while seamlessly exploring DEXs, NFT markets, GameFi, and thousands of dApps. OKX partners with world-class brands and athletes, including Premier League champions Manchester City F.C., McLaren F1 Team, the Tribeca Festival, golfer Ian Poulter, and Olympic snowboarder Scotty James. Committed to transparency and security, OKX publishes its monthly Proof of Reserves reports. For more information about OKX, download the app or visit: okx.com
About The Hong Kong University of Science and Technology (HKUST)
The Hong Kong University of Science and Technology (HKUST) (https://www.hkust.edu.hk/) is a world-renowned research-intensive university with excellence in science, engineering, business management, and the humanities and social sciences. With an international campus environment, HKUST provides holistic education and promotes interdisciplinary research, nurturing talent with global perspectives, entrepreneurial spirit, and innovative thinking. Over 80% of HKUST’s research was rated as “Internationally Excellent” or “World Leading” in the Hong Kong UGC’s Research Assessment Exercise 2020. HKUST ranked second in the latest Times Higher Education World University Rankings 2023 for young universities, while its graduates ranked 29th globally in the Global Employability University Ranking 2023, placing it among the top institutions in Asia. As of September 2023, members of the HKUST community have founded 1,747 active startups, including nine unicorns and 13 successful exits (via IPO or acquisition), collectively generating over HK$400 billion in economic value. According to InvestHK’s reference to the "QS World University Rankings by Subject 2021," HKUST leads among local universities in four fields related to engineering and materials science.
Disclaimer
This announcement is for informational purposes only and does not constitute investment, tax, or legal advice, nor should it be construed as an offer to buy, sell, or hold any digital assets. Holding digital assets, including stablecoins, involves high risks and the market may be highly volatile; you could lose your entire investment. You should carefully consider whether trading or holding digital assets is suitable for you based on your financial situation and risk tolerance. OKX does not provide investment or asset advice. You are solely responsible for your investment decisions, and OKX accepts no liability for any losses incurred. Past performance is not indicative of future results. If you have any questions regarding your specific circumstances, please consult your legal, tax, or investment advisor.
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