OKX and HKUST Collaborate to Conduct Hong Kong's First Zero-Knowledge Blockchain Technology Research

On April 18, 2024,OKX, a leading global Web3 technology company and virtual asset exchange, and the Hong Kong University of Science and Technology (HKUST) today announced a first-of-its-kind collaboration to jointly research the practice of zero-knowledge (ZK) proof technology and the development of new cryptographic protocols. These technological breakthroughs are designed to enhance the scalability and efficiency of the ZK Decentralized Exchange (ZKDEX).

This collaboration is in line with the Hong Kong Government’s emphasis on Web3 in recent years, and also confirms the shared commitment of OKX and HKUST to accelerate Web3 innovation and support the development of the local Web3 ecosystem.
Led by Professor Dimitris Papadopoulos, the HKUST team has accumulated rich technical knowledge and outstanding achievements in the fields of cryptography, ZK proofs and artificial intelligence. Coupled with the OKX Web3 team’s rich theoretical and practical experience in the field of blockchain and virtual assets, this collaboration is expected to transform cutting-edge blockchain technology into practical commercial applications and may have a significant impact on the development of the entire blockchain industry in Hong Kong and the world. Jason Lau, Chief Innovation Officer of OKX, said, “OKX is constantly innovating and committed to bringing emerging technologies to the market. We have already used ZK technology in our Proof of Reserves report and Layer 2 network X Layer to improve user privacy and provide scalability. Now, we are excited to further promote the benefits of ZK proofs through our research collaboration with HKUST, and to increase access to Web3 by improving scalability and bringing new benefits to users. We look forward to seeing the results of this collaboration.” Prof. Dimitris Papadopoulos, Chair Associate Professor of Computer Science and Engineering at HKUST, said, “HKUST strongly supports the HKSAR Government’s vision of making Hong Kong an international Web3 and virtual asset hub. To achieve this goal, we must not only increase public understanding and usage of relevant technologies, but also relentlessly promote technological advancement and innovation. Collaborating with OKX, a global Web3 technology company, brings us one step closer to this goal.” About OKX OKX is a leading technology company building the future of Web3. OKX develops fast and reliable crypto-asset applications that are used by over 50 million investors and professional traders worldwide. Its industry-leading self-custody solutions include the OKX Web3 Wallet service, which allows users to add custody of their own crypto-assets while exploring DEXs, NFT marketplaces, GameFi, and thousands of dApps. OKX works closely with world-class brands and athletes, including 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 Proof of Reserves Report monthly. For more information about OKX, please download our app or visit: okx.com

About HKUST

The Hong Kong University of Science and Technology (HKUST) (https://www.hkust.edu.hk/) is an internationally renowned research university with world-class excellence in science, engineering, business management, humanities and social sciences. HKUST offers an international campus, holistic education and interdisciplinary research to nurture outstanding talents with global vision, entrepreneurial spirit and innovative thinking. Over 80% of HKUST's research was rated as "internationally excellent" or "world-leading" in the Research Assessment Exercise 2020 of Hong Kong's University Grants Committee. We are ranked second in the latest Times Higher Education Young University Rankings 2023, and our graduates are ranked 29th in the world for employability in 2023, among the top universities in Asia. As of September 2023, HKUST members have founded 1,747 startups that are still active, including 9 unicorns and 13 companies that have successfully exited (IPO or M&A), creating a total economic benefit of more than HK$400 billion. Invest Hong Kong earlier cited the "QS World University Rankings by Subject 2021" to showcase the performance of five local universities ranked in the top 100 in the world in multiple innovation fields, among which HKUST ranked first among local universities in four engineering and materials science fields.

Disclaimer

This announcement is for reference only. This announcement is not intended to provide any investment, tax or legal advice, nor should it be regarded as an offer to buy, sell or hold virtual assets. Holding virtual assets, including stablecoins, is riskier and market volatility may be greater, and you may even lose all the value of your assets. You should carefully consider whether you are suitable for trading or holding virtual assets based on your financial situation and risk tolerance. OKX does not provide any investment or asset advice. You are solely responsible for your investment decisions and OKX will not be held liable for any losses. Past performance does not represent future results. If you have any questions about your specific situation, please consult your legal/tax/investment experts.