Crypto trade OKX introduced Monday that its Ethereum-based layer-2 scaling community, X Layer, has entered public mainnet—changing into the most recent name-brand blockchain to supply crypto customers sooner and cheaper transactions than Ethereum’s personal mainnet.
Constructed utilizing the Polygon CDK, OKX’s X Layer can be one of many first to reap the benefits of Polygon’s so-called AggLayer. Unveiled by Polygon in January, the answer appears to make many alternative blockchains really feel as if they’re one by a shared community state and liquidity that lets funds seamlessly circulate from one community to the subsequent.
“We’re constructing an ecosystem that’s as seamless and interoperable as attainable,” OKX’s Chief Advertising Officer Haider Rafique mentioned in a press release, including that “X Layer has limitless potential due to [OKX’s] robust neighborhood.”
The Singapore-based trade, which has over 50 million customers globally, is considered one of crypto’s largest by buying and selling quantity. Over the previous day, OKX has seen $4.9 billion price of crypto change palms—greater than the $4 billion in buying and selling quantity registered in the meantime at Coinbase, America’s main crypto trade, based on CoinGecko.
Much like OKX’s embrace of Polygon’s tech, Coinbase’s layer-2 community Base is constructed utilizing the OP Stack from Optimism, a toolkit from one other fashionable Ethereum layer-2 community. Since launching final July, Base has attracted round 8 million customers whereas processing 154 million whole transactions, based on knowledge from Dune Analytics.
Along with low cost transactions, layer-2 networks make interacting with decentralized purposes (dapps) extra possible for customers as a result of they value much less to make use of. Via X Layer, customers have entry to 170 dapps, which is “slated to extend exponentially,” OKX mentioned in a press release.
As of now, notable dapps launched on X Layer embody the decentralized trade QuickSwap, community-building platform Galxe, and the infrastructure platform Thirdweb.
One noticeable distinction between Base and Layer X is the latter community’s embrace of zero-knowledge (ZK) proofs. Permitting somebody to show {that a} assertion is true with out divulging the assertion itself, the idea in cryptography is core to Polygon’s up to date structure and a imaginative and prescient for better interoperability throughout chains.
“X Layer is a monumental subsequent step within the trade’s ambition to construct a very unified Web3,” Polygon CEO Marc Boiron mentioned in a press release. “The X Layer’s connection to the AggLayer solves the fragmentation of liquidity and customers throughout chains.”
Edited by Andrew Hayward
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