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<div class="cryptonews">
 <p class="is-style-lead">OKX launches its Layer-2 blockchain, leveraging Polygon’s technology, to enhance digital transaction efficiency.</p>
 <p>Leading crypto exchange OKX has introduced its own <a rel="noopener noreferrer nofollow" title="exclusive" href="https://thebittimes.com/tag/exclusive.html">exclusive</a> Layer-2 <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>, the X1 <a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a>, leveraging technology from Polygon. This move places OKX in a growing league of exchanges actively developing secondary networks to enhance the efficiency and cost-effectiveness of digital asset transactions.</p>
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    <p lang="en" dir="ltr">Hot Off The Press <br><br>We're thrilled to introduce #X1, our new Ethereum L2 network built on Polygon's CDK.<br><br>Our landmark collab. with @0xPolygonLabs empowers next gen. devs. with increased security, scalability &amp; low transaction costs to BUIDL the future of Web3.<br><br> pic.twitter.com/Wkz11vu2be</p>— OKX (@okx) November 14, 2023
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 <p>This strategic step by OKX follows the trend set by major players like Coinbase, which launched its Base <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a> in August, quickly attracting developer and user interest. Bloomberg reports that Kraken, another major exchange, is also considering the development of its Layer-2 <a rel="noopener noreferrer nofollow" title="blockchain" href="https://thebittimes.com/tag/blockchain.html">blockchain</a>.</p>
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 <p>The emergence of Layer-2 solutions, spearheaded by entities like Polygon, Optimism, and Arbitrum, has primarily aimed to augment Ethereum’s capabilities. OKX’s X1 <a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a> is anticipated to be accessible to end-users in early 2024. A team of fifty developers from OKX is currently dedicated to developing the X1 <a rel="noopener noreferrer nofollow" title="chain" href="https://thebittimes.com/tag/chain.html">chain</a>.</p>
 <p>This trend underscores a broader shift in the cryptocurrency ecosystem, where exchanges are not only facilitators of digital asset transactions but also innovators in blockchain technology, seeking to optimize transactional efficiency and broaden the scope of blockchain applications. However, it remains to be seen whether or not the development of L2 chains can be significantly profitable for exchanges.&nbsp;</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/okx-unveils-exclusive-layer-2-blockchain-powered-by-polygon-tbt70274.html">https://thebittimes.com/okx-unveils-exclusive-layer-2-blockchain-powered-by-polygon-tbt70274.html</a></p>

OKX unveils exclusive Layer-2 blockchain powered by Polygon

TheBitTimes

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