Highlights:

  • XSR is finally registered on OKEx.
  • The project aims to develop smart cities by integrating IoT with blockchain technology.
  • OKEx recently opened XSR deposits and enabled XSR withdrawals.
  • Integrating IoT with the blockchain technology will help to solve issues, including lack of standardization and high costs, said Jay Hao, CEO of OKEx.
  • OKEx arranged a contest in which traders can participate and win a prize pool of about 1,200,000 XSR

OKEx is a leading platform of a cryptocurrency spot and derivatives exchange. It recently declared the listing of  Xensor (XSR), a revolutionary project planned to meet the needs of smart cities by incorporating internet-of-things (IoT) with the blockchain technology.

Recently, as part of the listing, OKEx opened XSR deposits, followed by spot trading against BTC and USDT. Thus, on the same day allowed withdrawals of XSR.

About Xensor

It is headquartered in Hong Kong and designed by the team of South Korean developers. XSR is a rapidly developing blockchain project that works on unraveling problems associated with IoT network infrastructure that is used to develop smart cities. The use of the IoT network helps XSR to strengthen data security by automating certain points of data management, including transactions and data storage. Further, it helps to reduce the overall maintenance costs and construction costs of IoT communication networks.

“Like blockchain, IoT technology has developed rapidly in recent years, yet it also has some obstacles to overcome. IoT currently suffers from high costs, overly complex solutions, and a lack of standardization. Some of these problems can be solved by integrating IoT with blockchain technology,” said Jay Hao, CEO of OKEx. This was mainly to acknowledge the value of a combination of blockchain and IoT.

Further, he added, “For example, blockchain can address the issues of data privacy security and value mining. At the same time, it can help reduce the high maintenance costs and advance the IoT industry standards. We are happy to integrate these two emerging technologies with high potential and look forward to seeing blockchain adopted by more industries.”

Xensor also helps in enhancing the utilization of information, apart from creating a reasonable and economic IoT network to mechanize fixed asset management and machinery. The XSR token is exclusively used for trading the information assembled from the IoT network in a secure, decentralized manner. Thus, as a reward for sharing data, the XSR hardware allows users to quarry XSR tokens.

Also, OKEx arranged a contest recently where traders can participate and win a prize pool of about 1,200,000 XSR along with other exclusive rewards and about 550 XSR bonuses for new consumers.

About OKEx

OKEx is a world-foremost cryptocurrency exchange, offering enhanced financial services to traders across the globe by using blockchain technology. To improve the trader’s strategy, OKEx offers hundreds of futures and token trading pairs. Also, it is known as one of the best digital asset exchanges by trading volume and serving millions of consumers in about 100 territories. Its BTC futures trade has about USD 1.5 billion of volume daily and is exclusively known by the gold standard for the industry.

OKEx believes that integration of IoT and blockchain technology will help to eradicate barriers to transactions, will have a significant impact on the global economy, and will increase the efficacy of transactions across society.