OKX Launches Ethereum Layer2 Network X Layer on Public Mainnet
OKX, a prominent global cryptocurrency exchange and Web3 technology company, has revealed the introduction of X Layer, its Ethereum-based layer-2 scaling network, on its public mainnet. Constructed using Polygon’s Chain Development Kit (CDK), X Layer aims to offer quicker and more cost-effective transactions than Ethereum’s mainnet, while harnessing the capabilities of zero-knowledge (ZK) technology.
In a nutshell, OKX has launched the public mainnet of X Layer, its Ethereum-based layer-2 scaling network, which was developed using the Polygon CDK. X Layer is among the first to utilize Polygon’s AggLayer, which aims to consolidate liquidity and user experience across various chains.
The launch of X Layer positions OKX as a contender against other major cryptocurrency exchanges like Coinbase and Kraken, both of which have also pursued their own layer-2 networks. Currently, X Layer provides users with access to over 170 decentralized applications (dapps), with plans for a significant expansion of the ecosystem.
OKX has integrated X Layer with its Web3 Wallet, enabling users to view, transfer, and trade X Layer assets on OKX’s DEX and NFT Marketplace. This integration positions OKX as a direct competitor to other major cryptocurrency exchanges, such as Coinbase and Kraken, which have also pursued their own layer-2 networks in the past year. Coinbase’s Base blockchain, launched in August 2023, is built with Optimism’s OP Stack, while Kraken is reportedly interested in creating its own layer-2 solution as well.
One of the standout features of X Layer is its connection to Polygon’s AggLayer, a solution designed to unify liquidity and user experience across multiple chains. By linking to the AggLayer, X Layer aims to provide a seamless and interoperable ecosystem for its users.
OKX’s Chief Marketing Officer, Haider Rafique, highlighted the significance of this integration, stating that “X Layer has limitless potential thanks to [OKX’s] strong community.”
The launch of X Layer demonstrates OKX’s dedication to providing users with cutting-edge technology and a seamless, interoperable experience within the evolving Web3 ecosystem. With the support of Polygon’s CDK and AggLayer, X Layer is poised to become a major player in the layer-2 scaling solutions space, challenging established competitors and driving innovation in the industry.
