OKX has launched the public mainnet of the X Layer network. zero-knowledge Layer 2 on Ethereum using the Polygon Chain development kit
“We imagine the X Layer and other Layer 2 networks as the infrastructure highway of the Web3 world, with dApps as the marketplace and self-custodial wallets as the vehicle to get us there,” said Haider Rafique, OKX CMO. In pursuit of this vision We are creating the most seamless and collaborative ecosystem.”
X Layer, previously known as “X1,” launched on testnet in November. It had more than 50 decentralized applications deployed within a week, with both Web3 and DeFi apps including The Graph, Curve, LayerZero, QuickSwap, Galxe and Timeswap among the apps taking advantage. Layer 2 network
X Layer allows users to deposit and withdraw crypto through OKX with access to over 170 dapps that support token swap, staking, and other smart contract applications. OKX’s 50 million global users will This gives X Layer a potential user base and sufficient liquidity.
OKX confirmed that the OKB token will serve as X Layer’s native asset to pay transaction fees on the network.
OKX is currently the second-largest crypto exchange by monthly trading volume behind Binance, which saw over $60 billion in trading revenue this month.
X Layer uses Polygon’s CDK and AggLayer.
X Layer is a ZK rollup solution built using Polygon’s CDK and is designed to increase transaction volume and reduce costs while maintaining the security of the Ethereum network.
And because X Layer is EVM-compatible, apps using Ethereum can easily deploy on Layer 2 without any major development work.
Polygon Labs openCDK software toolkit launched in August 2023 to help developers build Layer 2 networks for Ethereum powered by zero-knowledge proofs
Several projects such as Immutable , Astar , Canto, Palm Network , Aavegotchi , IDEX , Nubank and Manta Network are using or plan to use Polygon CDK to develop their Layer 2 networks, with OKX also contributing to the tech stack.
The X Layer connects to other networks powered by Polygon CDK through a blockchain aggregation layer, or “AggLayer,” which helps enhance the scale of the ecosystem and enable shared state and end-to-end liquidity across multiple networks.
“X Layer is the next big step in the industry’s ambition to create a truly unified Web3. X Layer’s connection to AggLayer solves the liquidity and user fragmentation problem,” said Marc Boiron, CEO of Polygon Labs. “OKX’s 50 million users now have an easy path to getting started. X Layer and other networks All connected to AggLayer”
refer : theblock.co
picture twitter.com