OKX has launched a testnet for the Ethereum layer-2 network called “X1,” as announced on November 14. The network is being developed using the Polygon chain development kit (CDK) and will use zero-knowledge proofs to Verify deposits and withdrawals between layers
OKX is the sixth largest centralized crypto exchange by volume. Its daily trading volume exceeds $1.8 billion.followAccording to CoinMarketCap, the OKB token has a current market cap of more than $3.6 billion. This makes it one of the top 30 cryptocurrencies. When the mainnet version of the new network launches, OKB will be the token used to pay gas fees, the announcement said.
X1 is developed using the Polygon CDK, potentially making it part of the broader Polygon ecosystem, which includes the Polygon zero-knowledge Ethereum Virtual Machine, Polygon PoS, Near, Manta Pacific, and other networks that follow. The announcement states that OKX will be a key contributor to Polygon CDK software in the future and will “invest substantial engineering resources to improve the technology stack for Ethereum scaling solutions.”
Jason Lau, OKX’s Chief Innovation Officer, claims that the new network will help bring new users to Web3, stating:
“X1 will be a key pillar of our efforts to educate and bring our on-chain users into the world of Web3, providing a scalable and accessible network ideal for developers. that can be built on top of X1 to deliver world-class, user-friendly Web3 consumer applications. while maintaining interoperability with other networks and ecosystems.”
refer : cointelegraph.com
picture twitter.com/okx
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