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Crypto alternate OKX lastly opened its Ethereum layer-2 community X Layer mainnet to most people on April 15.
The scaling resolution’s testnet was launched in November 2023 to a lot acclaim and was constructed with Polygon’s Chain Improvement Equipment (CDK). This toolkit empowers builders to assemble their chains utilizing zero-knowledge know-how.
OKX Chief Advertising Officer Haider Rafique defined that the agency constructed its layer-2 community as a result of it believes the “greatest technique to obtain mainstream adoption is to assist scale the most important current Web3 neighborhood, Ethereum, as an alternative of competing with it.”
Consequently, the agency seeks to leverage Polygon and Ethereum communities to carry its 50 million customers on-chain.
X Layer
X Layer is a extremely performant and safe Ethereum-based Zero Information (ZK) Layer-2 community.
The platform already enjoys some degree of adoption, with over 200 decentralized purposes, together with well-known names akin to Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol, constructing on it.
Rafique added:
“Now that the X LAYER public mainnet is dwell, our focus is to onboard as many builders and customers as potential. Our goal is so as to add worth by offering a seamless and environment friendly expertise on-chain, to encourage and facilitate new improvements primarily based on L2 and ZK applied sciences.”
Furthermore, the alternate’s native OKB token can be used for gasoline funds on the layer-2 community. This mainnet’s launch triggered a optimistic surge in OKB’s worth, registering a 5% uptick regardless of the prevailing market downturn affecting large-cap digital belongings.
There had been some controversy over the chain’s branding, which had initially been promoted as X1. One other platform constructed by XEN builders, initially going by XONE, now often known as X1, had raised issues over customers doubtlessly complicated the 2 chains. OKX has lastly settled on X Layer, seemingly to keep away from any branding points following a lawsuit from the XEN builders.
Layer-2 networks
Layer-2 blockchain networks are engineered to bolster Ethereum’s scalability, a development that has surged in recognition and integration throughout the crypto sphere.
In response to information from L2Beat, these networks collectively facilitate 117 transactions per second, marking a considerable leap over Ethereum’s mainchain by an element of 9.67.
Furthermore, the whole worth of belongings secured on these networks soared to an unprecedented $45 billion earlier than barely declining to $37 billion on the time of reporting.