DeFi

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/okx-introduces-x-layer-a-new-development-in-crypto-networks">OKX Introduces X Layer: A New Development in Crypto Networks</a><br></p>
<p style="text-align: justify"> OKX, one of the top global <a href="https://en.bitcoinhaber.net/htx-aims-for-regulatory-compliance-with-hong-kong-license-application"></a><a href="https://en.bitcoinhaber.net/crypto-markets-steady-ahead-of-etf-decision">cryptocurrency</a> exchanges, has officially launched a new Layer 2 network, named X Layer, on its mainnet. This significant step highlights the exchange’s push towards enhancing its blockchain architecture and providing advanced tools and technologies within the cryptocurrency sector. </p> 
<h2 id="strong-x-layer-now-available-strong"><strong>X Layer Now Available</strong></h2> 
<p style="text-align: justify"> Initially referred to as X1, X Layer now utilizes technology from Polygon’s Chain Development Kit (CDK) that allows developers to create customized blockchain solutions with zero-knowledge proofs. This move leverages Polygon’s established technology to expand OKX’s blockchain capabilities and foster scalability and innovation. </p> 
<p style="text-align: justify"> In a recent announcement, OKX expressed its commitment to contributing to the codebase of CDK while integrating X Layer into Polygon’s broader ecosystem via an initiative called AggLayer. This integration is designed to enhance liquidity among various blockchain networks developed with Polygon’s technology. </p> 
<p style="text-align: justify"> Mark Boiron, CEO of Polygon Labs, highlighted the strategic importance of the integration, pointing out the access it provides to OKX’s vast user base, potentially enriching the user experience with a more interconnected network of blockchain solutions. </p> 
<h2 id="strong-competition-in-layer-2-networks-among-crypto-exchanges-strong"><strong>Competition in Layer 2 Networks Among Crypto Exchanges</strong></h2> 
<p style="text-align: justify"> The launch aligns with an emerging trend where major cryptocurrency platforms like <a href="https://en.bitcoinhaber.net/the-fall-of-ftx-customer-outcry-over-bankruptcy-plan">Coinbase</a> and Kraken are also venturing into their own Layer 2 solutions, emphasizing the competitive landscape in developing scalable and efficient blockchain networks. </p> 
<h4>Points to take into account</h4> 
<ul> 
 <li>X Layer’s strategic use of Polygon’s CDK highlights a trend of leveraging existing technologies for new blockchain solutions.</li> 
 <li>The integration with AggLayer could potentially streamline liquidity and user transactions across different blockchain platforms.</li> 
 <li>OKX’s initiative could attract more users and developers, offering them comprehensive tools for innovation in the DeFi space.</li> 
</ul> 
<p style="text-align: justify"> X Layer was first tested in November and is set to expand its capabilities, including supporting over 170 decentralized applications. This development underscores OKX’s aim to cultivate a diverse and dynamic ecosystem in the DeFi sector, positioning itself as a foundational player in the evolving Web3 landscape.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/okx-introduces-x-layer-a-new-development-in-crypto-networks">OKX Introduces X Layer: A New Development in Crypto Networks</a></h5>

OKX Introduces X Layer: A New Development in Crypto Networks

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