The Hong Kong University of Science and Technology (HKUST) and OKX announced a groundbreaking collaboration for a cooperative research project examining the application of zero-knowledge (ZK) proofs and the creation of novel cryptographic protocols.
The objective of these developments is to improve the efficiency and scalability of ZK decentralized exchanges (ZKDEXs).
This partnership is in line with the recent Web3 emphasis placed by the Hong Kong government. It also shows how OKX and HKUST are committed to promoting the regional Web3 ecosystem and quickening the growth of Web3 innovations.
The team at HKUST, under the direction of Professor Dimitris Papadopoulos, is highly skilled in technology and has an impressive history in the domains of artificial intelligence, ZK-proofs, and cryptography.
Combining this relationship with the extensive theoretical and practical knowledge of the OKX Web3 team in the blockchain and virtual asset arena will enable the transformation of cutting-edge blockchain technologies into useful commercial applications.
This partnership could have a big influence on the growth of the blockchain sector overall, both in Hong Kong and internationally.
Jason Lau, Chief Innovation Officer at OKX, stated, “OKX constantly develops and brings emerging technologies into the marketplace. We already use ZK technology in our Proof of Reserves to improve customer privacy, as well as in our layer 2 network, X Layer, where it offers scalability benefits.”
Dimitris Papadopoulos, Associate Professor of the HKUST Department of Computer Science and Engineering stated, “HKUST is a strong supporter of the HKSAR Government’s vision to make Hong Kong an international Web3 and virtual asset hub.”
Papadopoulos added that to do that, they must create new, cutting-edge technologies and use them to promote innovation in addition to improving the general public’s awareness of and acceptance of the relevant technology. They are eager to work with OKX in this relationship.
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