Ethereum

Pacific

Polygon

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 The “X1” network will be part of the Polygon ecosystem and use zero-knowledge proofs to bridge assets from Ethereum.
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 <p>Crypto exchange OKX has launched a <a rel="noopener noreferrer nofollow" title="testnet" href="https://thebittimes.com/tag/testnet.html">testnet</a> for an upcoming Ethereum <a rel="noopener noreferrer nofollow" title="layer-2" href="https://thebittimes.com/tag/layer-2.html">layer-2</a> network named “X1,” according to a Nov. 14 announcement. The network is being developed using the Polygon chain development kit (CDK) and will use zero-knowledge proofs to validate deposits and withdrawals between layers.</p>
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/15/fdd2e94740df8b2ba1ac59d01f266502.webp" alt="" title="">
  <figcaption style="text-align: center;"><em>OKX exchange interface. Source: OKX</em>
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 <p>OKX is the sixth-largest centralized crypto exchange by volume, with&nbsp;over $1.8 billion in trading volume per day, according to data from CoinMarketCap. Its token, OKB, has a current market cap of over $3.6 billion, making it one of the top 30 cryptocurrencies. When a mainnet version of the new network is launched, OKB will be the native coin used to pay gas fees on it, the announcement stated.</p>
 <p>X1 is being developed using the Polygon CDK, potentially making it part of the broader Polygon ecosystem that includes Polygon zero-knowledge Ethereum Virtual Machine, Polygon PoS, Near, Manta Pacific and other networks. According to the announcement, OKX will also be a core contributor to the Polygon CDK software going forward and will “invest substantial engineering resources to enhance the technology stack for Ethereum scaling solutions.”</p>
 <p><em><strong>Related: </strong><strong>Polygon Labs and Near announce ZK prover for WASM integration</strong></em></p>
 <p>OKX chief innovation officer Jason Lau claimed that the new network will help to onboard new users to Web3, stating:</p>
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  “X1 will be a key pillar of our efforts to educate and bring our users on-chain and into the world of Web3. This scalable and accessible network is perfect for developers, who can build on X1 to deliver user-friendly world-class consumer Web3 applications, all while maintaining interoperability with other networks and ecosystems.”
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 <p>OKX is also the creator of OKT Chain, an Ethereum sidechain that uses OKB as its native coin. It isn’t the only exchange to build its own network: Binance launched BNB Chain in 2019,&nbsp;and Coinbase launched its <a rel="noopener noreferrer nofollow" title="layer-2" href="https://thebittimes.com/tag/layer-2.html">layer-2</a> “Base” network on Aug. 9.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/okx-launches-ethereum-layer-2-testnet-using-zk-based-polygon-cdk-tbt70265.html">https://thebittimes.com/okx-launches-ethereum-layer-2-testnet-using-zk-based-polygon-cdk-tbt70265.html</a></p>

OKX launches Ethereum layer-2 testnet using ZK-based Polygon CDK

TheBitTimes

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