OKX unveils ZK layer 2 network X Layer on public mainnet

Source: Crypto Briefing

OKX announced today the mainnet launch of X Layer (formerly known as X1), a ZK layer 2 (L2) network following its testnet launch in Q4 last year. Developed using the Polygon CDK, X Layer is designed to deliver 100% EVM compatibility, superior performance, and strong security at low fees.

Hiya creators, builders, founders 👩‍💻👨‍💻

🚨 We’re opening X Layer Mainnet to the Public 🚨

With +200 dApps building, X Layer is now accessible to everyone, not just developers.

Experience the power & security of our zkEVM L2 network firsthand.

Start building:… pic.twitter.com/K59dg0sJrG

— X Layer (@XLayerOfficial) April 16, 2024

The network currently supports four popular crypto wallets, including OKX Wallet, MetaMask, Particle Network, and imToken. Notably, OKX’s native token, OKB, will be used to pay transaction fees on the network, OKX said in its press release.

X Layer’s advanced technology also aims to reduce costs and increase speed for millions of users interacting with on-chain applications, utilizing ZK proofs to enhance transaction security and scalability.

“X Layer is for visionary builders who are creating applications to help bring millions of people on-chain,” said Haider Rafique, OKX’s Chief Marketing Officer. “We think X Layer has limitless potential thanks to our strong community and its connectivity with other Ethereum-based networks.”

OKX claims X Layer will connect to Polygon’s extensive ecosystem through AggLayer, a solution that aims to connect blockchains together to enhance overall liquidity.

Polygon CEO Marc Boiron remarked on the importance of X Layer and the role of AggLayer. He said:

“X Layer is a monumental next step in the industry’s ambition to build a truly unified Web3. The X Layer’s connection to the AggLayer solves the fragmentation of liquidity and users across chains on the AggLayer so they can all grow together.”

X Layer has seen explosive growth since its November 2023 beta launch. Over 200 web3 dApps, including popular names like The Graph, Curve, QuickSwap, LayerZero, Wormhole, and EigenLayer (DA), deployed on the platform since its testnet going live.

Transitioning from testnet to mainnet launch, OKX’s X Layer is set to onboard over 50 million users worldwide into web3. It is poised to become a central hub for a vibrant and interconnected digital economy, with the promise of unified liquidity and near-instant transaction finality.

X Layer is integrated with OKX Exchange and the OKX Web3 Wallet to allow users to seamlessly bridge assets between platforms.

Now that the public mainnet is live, OKX is laser-focused on onboarding developers and users. Its goal is to unlock the full potential of L2 and ZK technologies by fostering a vibrant ecosystem of innovative dApps, empowering creators, and delivering a blazing-fast, cost-effective on-chain experience.

With X Layer, OKX has sparked L2 competition among major crypto exchanges. Last July, Coinbase launched Base, a L2 built on Optimism’s OP Stack. Additionally, Kraken is reportedly building its own L2.

Go to Source
Author: Vivian Nguyen