Polygon

It is a big step for crypto exchange OKX and Ethereum-based layer-2 protocol Polygon as they joined forces to officially release the former’s X Layer engine on the mainnet. As <a href="https://www.prnewswire.com/news-releases/okx-launches-x-layer-public-mainnet-to-bring-its-50m-users-on-chain-302117393.html" rel="noopener noreferrer nofollow">announced</a> by OKX, the X Layer network is all about speeding up and making Ethereum transactions more affordable for their 50 million users.&nbsp;
Additionally, X Layer will indirectly enable users to interact with decentralized applications, trade digital assets, and participate in various blockchain activities. The mainnet secures and provides efficient transfer of assets across different chains, allowing for seamless cross-chain transactions.&nbsp;
It’s an exciting development that will contribute to the overall evolution of the overall blockchain ecosystem
<h2 id="b-okx-unveils-new-system-to-share-liquidity-b">OKX unveils new system to share liquidity&nbsp;</h2>
The <a href="https://cryptonews.com/news/ethereum-layer-2-starknet-reveals-what-caused-block-outage.htm" rel="noopener noreferrer nofollow">Layer-2 </a>network, which is built using the Polygon Chain Development Kit (CDK) uses Zero Knowledge (ZK) for security. With the help of the AggLayer which facilitates shared state and liquidity by connecting different chains and allowing them to communicate and interact with each other.&nbsp;
Using ZK proofs not only ensures scalability and cost reduction in transactions, but it also enables easy deployment of Ethereum-based Decentralized Applications (DApps) with minimal development effort, thanks to its compatibility with the Ethereum Virtual Machine (EVM).&nbsp;
According to Haider Rafique, the Chief Marketing Officer of OKX, X Layer is designed for forward-thinking creators who are developing applications to onboard millions of people onto the blockchain.
Rafique described the vision of X Layer and other Layer-2 chains as the backbone infrastructure of the Web3 world. In this analogy, DApps serve as bustling marketplaces, while self-hosted wallets act as the vehicles that transport users to these destinations.
<h2 id="b-x-layer-s-built-for-developer-community-b">X Layer’s Built for Developer Community</h2>
Ever since X Layer was introduced in November 2023, it has gained immense popularity. Within just one week of its testnet launch, over 50 web3 dApps have already embraced the platform.&nbsp;
The X Layer’s developer community is buzzing with major DApps like The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap, expanding the network’s capabilities and impact!
It’s a game changer for users from all around the world to leverage the power of the X Layer network for seamless asset transfers, crypto deposits and withdrawals through OKX, and gain access to a wide range of over 170 DApps that enable swapping, staking, and smart contract interactions.&nbsp;
“It’s an exciting development as X Layer is a huge leap forward in our industry’s mission to create a truly unified Web3. With X Layer’s integration with the AggLayer, we can address the issue of fragmented liquidity and users across different chains, allowing them to grow together” says Polygon CEO Marc Boiron
Boiron gave further insights about the network’s potential, highlighting the impressive lineup of skilled developers who have already started building on X Layer. He also emphasized the ongoing collaboration with OKX to achieve their shared industry goals.
The post <a href="https://thecoinrise.com/okx-and-polygon-teamed-up-to-launch-the-x-layer-public-mainnet/" rel="noopener noreferrer nofollow">OKX and Polygon teamed up to launch the X Layer Public Mainnet</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

OKX and Polygon teamed up to launch the X Layer Public Mainnet

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