OKX, one of the largest crypto exchanges and Web3 ecosystem, opened public access to the main network of the X Layer blockchain. The X Layer architecture makes interacting with on-network applications cheaper and faster for millions of users.
X Layer is an Ethereum-based layer 2 network developed using the Polygon Chain Development Kit (CDK) to pool liquidity across multiple blockchains through the AggLayer platform. The network is based on zero-knowledge proof technology, which reduces costs and also increases the security and scalability of transactions.
X Layer is EVM-compatible, allowing you to quickly deploy Ethereum-based decentralized applications (dApps) and create new layer 2 blockchains.
“X Layer is suitable for developers who create cutting-edge applications to reach millions of users. We envision X Layer and other layer 2 networks as the infrastructure of the Web3 world, where decentralized applications are marketplaces and wallets are the transport that will help you get there. To achieve this goal, we strive to create a seamless ecosystem with maximum compatibility,” said OKX Marketing Director Haider Rafique. “We believe X Layer has limitless potential thanks to its connections to other Ethereum-based networks and our powerful community.”
The beta version of X Layer was rolled out in November 2023. Within a week of the launch of the testnet, more than 50 Web3 decentralized applications were running on it. More than 170 dApps are also available on the platform for exchange, staking and interaction with smart contracts. Polygon supports a comprehensive set of protocols that simplify access to key scaling solutions, including ZK rollups, sidechains, application-specific networks, and data availability protocols. The largest Web3 projects operate on Polygon: Aave, Uniswap and OpenSea.
Once the mainnet is launched, users around the world can use X Layer to transfer, deposit and withdraw cryptocurrency on OKX. To pay gas fees on X Layer, OKB, the OKX platform token, will be used.
In the future, they plan to connect other blockchains based on Polygon CDK to X Layer through AggLayer. Connecting to AggLayer enables liquidity pooling between X Layer and other networks, thereby increasing the size of the X Layer community and simplifying access to liquidity.
Earlier this month, OKX reported significant growth in its user base in the Russian market.
Source: Bits

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