CoinDCX has taken a significant step by transforming its DeFi wallet service, Okto Wallet, into a comprehensive Web3 platform for the cryptocurrency community. The company has expanded its services to include a native blockchain, a points program, and a utility token designed to power various activities within the network. This initiative plays a pivotal role in broadening the horizons of decentralized finance while introducing a more secure and decentralized blockchain named the Okto Chain.

The Okto Chain's design emphasizes openness, making it user-friendly for both individuals and developers keen on creating decentralized applications (dApps) without constraints. By fostering a welcoming environment for validators, the blockchain aims to fortify itself against potential threats posed by malicious individuals. Moreover, the platform eliminates the barriers associated with complex blockchain technologies, empowering developers to create advanced web3 applications effortlessly.

The orchestration layer of the platform acts as a supportive scaffold for developers, streamlining the process of creating dApps by offering user-friendly software development kits (SDKs) and a catalog of pre-built blocks. These tools simplify the intricacies of blockchain development, empowering developers to focus on innovation without being bogged down by technical complexities. With over a million users already onboarded through the Okto Wallet app, the Okto Chain has garnered support for the development of twenty dApps, marking a significant milestone in its journey.

Neeraj Khandelwal, the co-founder of CoinDCX, underlines that the Okto Chain is not positioned to rival established layer-1 protocols like BNB Chain and Ethereum but to complement them effectively. Leveraging an innovative approach called asynchronous batching of transactions, the Okto Chain processes multiple transactions concurrently, enhancing its operational efficiency. This methodology leads to faster transaction confirmations and heightened overall throughput. Consequently, the blockchain's scalable modular infrastructure enables it to adapt seamlessly to increasing transaction volumes and user engagement.

In tandem with these developments, CoinDCX has introduced the Okto points program to incentivize user engagement within the ecosystem. The points program, kicking off with its first season, rewards users for interacting with the Okto Wallet. Upon the blockchain's official launch, the points program will motivate users through rewards for their on-chain transactions. Bonus Okto points have already been allocated to existing self-custody wallet holders, setting the stage for an engaging user experience. Furthermore, the company is set to unveil the OKTO token in the near future, with plans to sync its debut with the blockchain's launch. Early adopters can anticipate an airdrop of up to 7% of the OKTO token upon its official introduction, setting the stage for an exciting journey ahead.