OKX, a prominent cryptocurrency exchange, has unveiled its own Ethereum-based Layer 2 network named X Layer, following in the footsteps of industry giants like Coinbase. Designed to offer users lower fees and improved interoperability with decentralized applications (DApps), X Layer leverages zero-knowledge proofs (ZK-proofs) to enhance security and scalability.
The public mainnet of X Layer was officially launched on April 15, developed using Polygon’s Chain Development Kit (CDK). Utilizing the aggregation layer of the Ethereum Extension Protocol, X Layer facilitates shared state and liquidity across various blockchain networks. This integration allows for faster and more cost-effective transactions when interacting with on-chain applications.
X Layer's compatibility with the Ethereum Virtual Machine (EVM) ensures seamless migration for developers seeking to deploy or transition Ethereum-based DApps without the need for significant code rewrites. Haider Rafique, OKX's chief marketing officer, emphasized the significance of layer 2 networks like X Layer in building a seamless and interoperable Web3 ecosystem.
The network's mainnet test version was initially launched in November 2023, attracting over 50 Web3 DApps to the testnet. Notable DApps such as Graph, Curve, LayerZero, QuickSwap, Galaxy, and Timeswap have chosen to deploy on OKX's Layer 2 network, leveraging its capabilities for enhanced functionality and efficiency.
OKX users will benefit from X Layer's features, enabling asset transfers, cryptocurrency deposits and withdrawals, and access to a plethora of DApps offering token exchange, staking, and smart contract functionalities. The native token of OKX, OKB, serves as X Layer's native token, facilitating gas fee payments on the network and fostering a seamless user experience. Through its integration with Polygon CDK and AggLayer, X Layer connects with other chains, promoting interoperability and liquidity transfer across diverse blockchain protocols.
