The X Layer public mainnet has been formally launched by OKX and Polygon.
The 50 million customers of the cryptocurrency exchange OKX recently announced that the X Layer network is intended to speed up and reduce the cost of Ethereum-based transactions for them.
OKX Unveils Cross-Chain Liquidity Platform
The Layer-2 (L2) network is constructed with the Polygon Chain Development Kit (CDK) and employs Zero Knowledge (ZK) for security. Through the AggLayer, the platform enables shared state and liquidity across many chains.
In addition to ensuring that transactions are scalable, the ZK proofs used would help cut expenses. Furthermore, with little development work required, Ethereum-based decentralized apps (dApps) can be easily deployed thanks to its EVM compatibility.
According to Haider Rafique, Chief Marketing Officer of OKX, "X Layer is for visionary builders who are creating applications to help bring millions of people on-chain."
Rafique explained, "We see dApps as the marketplaces and self-hosted wallets as the vehicles that take you there. We see X Layer and other Layer-2 chains as the highway infrastructure of the Web3 world."
The Creative Developer Community of X Layer
Over 50 web3 dApps deployed on X Layer during the first week of its testnet debut, demonstrating the platform's quick uptake since its beta unveiling in November 2023.
Major apps including The Graph, Curve, LayerZero, QuickSwap, Galxe, and Timeswap are among the dApps that are expanding the functionality and reach of the network.
The X Layer network is currently available to users worldwide for asset transfers, cryptocurrency deposits and withdrawals through OKX, and access to a variety of over 170 dApps that provide smart contract interactions, exchanging, and staking.
According to Polygon CEO Marc Boiron, "X Layer is a monumental next step in the industry's ambition to build a truly unified Web3." "The fragmentation of liquidity and users across chains on the AggLayer is resolved by the X Layer's connection to the AggLayer, allowing them to all grow together."
"We are excited to work with OKX to continue achieving our shared goals for the industry, and the impressive roster of talented developers who have already started to build on X Layer is a testament to the potential of the network," Boiron stated.
April 2024, Cryptoniteuae