OKX debuts X Layer Mainnet, bringing 50m users on-chain

The dazzling firm OKX, famous for crypto trading and Web3 technology, recently released the public X-layer version. The network is fully developed using ZK Rollups, which work on Ethereum’s Zero Knowledge (ZK) Layer-2 (L2) system and seek to enable collaborative resource sharing and trading in multiple blockchains using the AggLayer feature. This platform was developed on the Polygon CDK, a pioneering technology that will change the current perception of decentralized technologies right from user interaction.

X Layer endeavors to change the blockchain sphere by creating fast and inexpensive facilities for millions of users to work with on-chain apps. It is designed with ZK proofs to strengthen transaction security and scalability, substantially reducing operational costs. Moreover, its Ethereum Virtual Machine (EVM) compliance facilitates the deployment of existing Ethereum-based dApps with minimal developer efforts.

Haider Rafique, the CMO of OKX, says that X Layer is a place where innovative designers would want to come, as it will contribute to pouring millions of people into the blockchain world. He believes that the X Layer and other L2 chains are a key element of the Web3 ecosystem, which allows for a flawless and interoperable network.

Since its beta launch in November 2023, X Layer has already had a substantial user base, with over 50 Web3 dApps quickly being deployed on the testnet. This network is still gaining traction with projects like The Graph, Curve, and QuickSwap, to mention but a few. Through its public launch, other users globally can now participate in over 170 dApps, enjoying functions such as the OKX crypto transaction, asset transfer, and smart contract interaction.

OKX is one of the world’s largest crypto exchanges in terms of daily trading volume and manages more than US$22 billion in assets. The OKX Wallet has been recognized notably for its broad compatibility with more than 90 blockchains and functions as a portal into the Web3 world, integrating the most popular DEX and NFT marketplaces.

Boasting over 50 million global users, X Layer immediately gets access to a robust audience at the launch whilst providing liquidity for X Layer from the first days.

OKB, the platform token of OKX, will serve as a gas fee on Layer X, and the process will give rise to a full-fledged integration of OKB within the OKX ecosystem.

Backed by Polygon’s latest CDK, X Layer can bridge the gap between L2 chains and Ethereum development, providing an advanced set of tools to help developers reuse resources and push the limits of blockchain innovation. The OKX developers also contribute significantly to improving Polygon CDK, continuously developing the X Layer platform.

Mark Boiron, the CEO of Polygon, emphasized the necessity of X Layer in ensuring that we attain our goal of unifying the Web3 ecosystem in a recent discussion.

X Layer and AggLayer interconnection is another major point that mainly solves the problem of separated liquidity and users throughout different blockchain network points. Through this, we can create a general increase for all the participants in this field.

The launch of X Layer is heralding the beginning of a new way of doing business using blockchain technology for programmers, traders, and investors interested in cryptocurrency, with a convenient platform where they can find all the opportunities a growing decentralized technology ecosystem has to offer.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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