OKX releases new zKEVM Layer-2 network ‘X1’ using Polygon CDK

OKX recently announced the release of its new zkEVM layer-2 network, X1. The exchange has only launched a testnet of the network for now.

The leading Web3 ecosystem collaborated with Polygon Labs to design the network. The secure and highly performant Ethereum-based ZK L2 network has been built with Polygon CDK. 

OKX has designed the network with a keen focus on developers. That is why X1 will allow developers to build on its on-chain ecosystem to drive Web3 adoption. The network will connect OKX’s 50 million+ users with the Ethereum and Polygon developer communities.

Moreover, as a part of the partnership, OKX will become a key contributor to the Polygon CDK. The exchange will lend its engineering resources to elevate the tech stack for Ethereum scaling. 

In addition to connecting the developer communities, OKX will utilize X1 as its native network. Due to the news’s importance and the prominence of the parties involved, it captured the attention of numerous enthusiasts. Users who were previously uninformed about OKX sought out an OKX review in an effort to comprehend its offerings.

New developers learned that OKX has decided to use OKB, X1’s native token, as a payment method for gas fees on the network. As the enterprise-grade, user-friendly developer protocol, X1 uses ZK proofs to facilitate highly scalable and secure transactions.

In addition, the network is compatible with Ethereum to facilitate the secure and seamless deployment of EVM-based dApps. Its connectivity comes with a wide array of tools, smart contracts, and wallets. 

Jason Lau, the Chief Innovation Officer at OKX, commented on the recent development. According to Lau, X1 is set to be a core part of OKX’s efforts to drive Web3 adoption. Its accessibility and scalability are ideal for builders, helping them deliver top-notch Web3 apps.

The network will maintain the utmost interoperability with other ecosystems. A collaboration with Polygon Labs allows OKX to attract more developers while offering more use cases, added Lau.

David Cox

David is a finance graduate and crypto enthusiast. He projects his expertise in subjects like crypto and Blockchain while writing for CryptoNewsZ. Being from Finance background, he efficiently writes Price Analysis. Apart from writing, he actively nurtures hobbies like sports and movies.

Related Articles

Back to top button
bitcoin
Bitcoin (BTC) $ 65,124.45
ethereum
Ethereum (ETH) $ 3,549.49
tether
Tether (USDT) $ 0.999681
bnb
BNB (BNB) $ 597.95
solana
Solana (SOL) $ 133.03
xrp
XRP (XRP) $ 0.493189
dogecoin
Dogecoin (DOGE) $ 0.122541
cardano
Cardano (ADA) $ 0.387987