Bitcoin

Polygon

<p><strong>OKX launches X Layer, a Polygon-powered Layer-2 solution that offers seamless integration with its exchange and Web3 wallet to drive adoption and innovation in decentralized applications.</strong></p><h2 id="header-0">Seamless Integration To Bridge Assets</h2><p>Leading crypto exchange <a href="https://cryptodaily.co.uk/2024/03/okx-pays-penalty-in-malta-over-regulatory-failings" rel="noopener noreferrer nofollow">OKX</a> has officially launched the public mainnet of its Layer-2 solution, X Layer. In addition to the OKX Exchange (CEX), the X Layer is also integrated with the OKX Web3 Wallet. This integration will allow users to seamlessly bridge assets from the two platforms to the X Layer and more than 200 decentralized applications.</p><p>According to Polygon Labs CEO Mark Boiron,</p><blockquote><em>“OKX’s 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer.”</em></blockquote><h2 id="header-1">Empowering Developer Community</h2><p>The news was announced via a public statement from OKX Chief Marketing Officer Haider Rafique, published on the company website. According to the announcement, the X Layer has been developed to ensure multiple protocols can function together, thus enhancing the blockchain&#39;s scalability.</p><p>This facilitation helps on-chain developers build their own chains, as it allows them to implement zero-knowledge technology using the customizable toolkit known as the Chain Development Kit (CDK).</p><p>Other major crypto exchanges, like Coinbase and Kraken have also been pursuing their own layer-2 networks. Coinbase has already launched its Base blockchain in August 2023, built on Optimism’s OP Stack.</p><h2 id="header-2">Progress Since Testnet</h2><p>The project has been seeing tremendous success from its testnet phase, during which over 200 dApps and thousands of developers flocked to its offering of a less expensive and faster network to access on-chain apps involving DeFi, infrastructure, bridges, growth tools, wallets, NFTs, gaming, and SocialFi.</p><p>Among the notable dApps onboarded on X Layer are popular DeFi platforms like Curve, Renzo, and QuickSwap, as well as infrastructure applications such as LayerZero, Wormhole, and EigenLayer.</p><p>Rafique writes,</p><blockquote><em>“X LAYER combines the OKX symbol of X - for openness and interoperability - with the word LAYER, which represents different types of protocols that work together to improve the scalability of a blockchain network. X LAYER is built to be versatile, not restricting innovation to a single use case. We envision onchain developers using X LAYER and its infrastructure to create new &#34;Layers&#34; for a multitude of use cases.”</em></blockquote><h2 id="header-3">Focus On Expansion And User Adoption</h2><p>The company’s announcement revealed that its main focus now is to attract a significant number of developers and users to the platform.</p><p>Among its long-term objectives, the OKX team has committed to developing user-friendly dApps by improving interoperability, empowering builders and creators through an advanced tech stack and comprehensive support, and finally, enhancing the on-chain experience by improving transaction throughput and interaction design.</p><p><em>Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.</em></p>

OKX Launches X Layer: Polygon-Powered Layer 2 Network Goes Live

Table of Contents

Crypto Daily™

Other articles published on Apr 16, 2024

What Is Cash App Bank Name & Address? Everything You Need To Know

Bitcoin Price Alert: Historical Trends Spell Trouble for BTC as Halving Looms

Cardano’s Key Upgrades Explained: ADA Sets for $1

Bitget Expands Offerings by Listing Parcl(PRCL) In Solana Ecosystem and RWA Zone (16 Apr)

BlackRock’s Bitcoin ETF Looks To Overtake Grayscale’s; $MEDA Keeps Raising the Bar for New Meme C...

Crypto Bulls Stay Strong Amid Price Drops – Traders Focus on Emerging Altcoins

Join our free newsletter for daily crypto updates!