OKX launches Ethereum layer-2 testnet using ZK-based Polygon CDK

Crypto speech OKX has launched a testnet for an upcoming Ethereum layer-2 web named “X1,” according to a Nov. 14 announcement. The web is being developed utilizing the Polygon concatenation improvement kit (CDK) and volition usage zero-knowledge proofs to validate deposits and withdrawals betwixt layers.

OKX speech interface. Source: OKX

OKX is the sixth-largest centralized crypto speech by volume, with over $1.8 cardinal successful trading measurement per day, according to information from CoinMarketCap. Its token, OKB, has a existent marketplace headdress of implicit $3.6 billion, making it 1 of the apical 30 cryptocurrencies. When a mainnet mentation of the caller web is launched, OKB volition beryllium the autochthonal coin utilized to wage state fees connected it, the announcement stated.

X1 is being developed utilizing the Polygon CDK, perchance making it portion of the broader Polygon ecosystem that includes Polygon zero-knowledge Ethereum Virtual Machine, Polygon PoS, Near, Manta Pacific and different networks. According to the announcement, OKX volition besides beryllium a halfway contributor to the Polygon CDK bundle going guardant and volition “invest important engineering resources to heighten the exertion stack for Ethereum scaling solutions.”

Related: Polygon Labs and Near denote ZK prover for WASM integration

OKX main innovation serviceman Jason Lau claimed that the caller web volition assistance to onboard caller users to Web3, stating:

“X1 volition beryllium a cardinal pillar of our efforts to amended and bring our users on-chain and into the satellite of Web3. This scalable and accessible web is cleanable for developers, who tin physique connected X1 to present user-friendly world-class user Web3 applications, each portion maintaining interoperability with different networks and ecosystems.”

OKX is besides the creator of OKT Chain, an Ethereum sidechain that uses OKB arsenic its autochthonal coin. It isn’t the lone speech to physique its ain network: Binance launched BNB Chain successful 2019, and Coinbase launched its layer-2 “Base” web connected Aug. 9.