OKX, a prominent cryptocurrency exchange, announced on Monday the public mainnet launch of its Ethereum-based layer-2 scaling network known as X Layer.
OKX, a prominent cryptocurrency exchange, announced on Monday the public mainnet launch of its Ethereum-based layer-2 scaling network known as X Layer. By leveraging the Polygon CDK (Crypto Development Kit), X Layer aims to provide users with faster and more cost-effective transactions compared to Ethereum's native mainnet. OKX's X Layer uses Polygon's AggLayer, a solution that seeks to create a unified network state and liquidity across various blockchains, enabling seamless fund transfers between networks.
Haider Rafique, Chief Marketing Officer at OKX, expressed the exchange's commitment to building an ecosystem that prioritizes seamless interoperability. Rafique said: “We envision X Layer and other Layer-2 chains as the highway infrastructure of the Web3 world, with dApps as the marketplaces and self-hosted wallets as the vehicles that take you there. In pursuit of this vision, we are building an ecosystem that is as seamless and interoperable as possible.” With over 50 million users globally, OKX ranks among the largest cryptocurrency exchanges in terms of trading volume.
X Layer not only offers cost-effective transactions but also enhances user access to decentralized applications (dapps). OKX stated that X Layer currently supports 170 dapps, with plans to exponentially increase this number in the future. Notable dapps already integrated with X Layer include QuickSwap, a decentralized exchange, Galxe, a community-building platform, and Thirdweb, an infrastructure platform.
Beyond its technological advancements, X Layer stands out for its adoption of zero-knowledge (ZK) proofs—a cryptographic technique that allows the verification of statements without revealing the underlying data. This aligns with Polygon's vision of promoting greater interoperability and liquidity consolidation across blockchain networks.
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