2 weeks ago
Crypto speech OKX yet opened its Ethereum layer-2 network X Layer mainnet to the wide nationalist connected April 15.
The scaling solution’s testnet was launched successful November 2023 to overmuch acclaim and was built with Polygon’s Chain Development Kit (CDK). This toolkit empowers developers to conception their chains utilizing zero-knowledge technology.
OKX Chief Marketing Officer Haider Rafique explained that the steadfast built its layer-2 web due to the fact that it believes the “best mode to execute mainstream adoption is to assistance standard the largest existing Web3 community, Ethereum, alternatively of competing with it.”
Consequently, the steadfast seeks to leverage Polygon and Ethereum communities to bring its 50 cardinal users on-chain.
X Layer
X Layer is simply a highly performant and unafraid Ethereum-based Zero Knowledge (ZK) Layer-2 network.
The level already enjoys immoderate level of adoption, with implicit 200 decentralized applications, including celebrated names specified arsenic Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol, gathering connected it.
Rafique added:
“Now that the X LAYER nationalist mainnet is live, our absorption is to onboard arsenic galore developers and users arsenic possible. Our purpose is to adhd worth by providing a seamless and businesslike acquisition on-chain, to promote and facilitate caller innovations based connected L2 and ZK technologies.”
Moreover, the exchange’s autochthonal OKB token volition beryllium utilized for state payments connected the layer-2 network. This mainnet’s motorboat triggered a affirmative surge successful OKB’s value, registering a 5% uptick contempt the prevailing marketplace downturn affecting large-cap integer assets.
There had been immoderate contention implicit the chain’s branding, which had initially been promoted arsenic X1. Another level built by XEN developers, primitively going by XONE, present known arsenic X1, had raised concerns implicit users perchance confusing the 2 chains. OKX has yet settled connected X Layer, seemingly to debar immoderate branding issues pursuing a suit from the XEN developers.
Layer-2 networks
Layer-2 blockchain networks are engineered to bolster Ethereum’s scalability, a inclination that has surged successful popularity and integration wrong the crypto sphere.
According to data from L2Beat, these networks collectively facilitate 117 transactions per second, marking a important leap implicit Ethereum’s mainchain by a origin of 9.67.
Moreover, the full worth of assets secured connected these networks soared to an unprecedented $45 cardinal earlier somewhat declining to $37 cardinal astatine the clip of reporting.
The station OKX launches ETH layer-2 web X Layer pursuing Coinbase’s Base success appeared archetypal connected CryptoSlate.
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