In a decisive move to provide cheaper transactional capabilities and enhance operability for its users interacting with decentralized applications, cryptocurrency exchange OKX has launched an in-house Ethereum-based layer-2 scaling network solution.
For context, X Layer is an Ethereum layer-2 scaling solution powered by Zero-knowledge proofs (ZK proofs) through the Polygon Chain Development Kit. Its EVM compatibility allows developers to launch or move Ethereum-based decentralized apps (DApps) without necessarily having to change the entire code.
OKX Remains Committed To Exploring X Layer Potential
Commenting on the recent development, OKX Chief Marketing Officer Haider Rafique disclosed that X Layer and other layer-2 have shown potential to become an integral part of the global Web3 ecosystem, adding that OKX is not just excited but deeply committed to the potential of X Layer.
Part of his statement read thus, “We are building an ecosystem that is as seamless and interoperable as possible. We think X Layer has limitless potential thanks to our strong community and its connectivity with other Ethereum-based networks.”
Possible Users’ Expectations
Before now, OKX had launched the Mainnet beta version of X layer in November 2023, attracting over 50 Web3 DApps to launch on the test net. Following its recent in-house model release, it is safe to say that users would expect more from the exchange.
According to findings from reputable sources, OKX plans to leverage X Layer's capabilities to revolutionize the user experience. With its ability to provide faster and more cost-effective transactions, users can interact with different on-chain applications with unprecedented ease and efficiency.
Using the OKX platform's dedicated token, OKB, the X Layer will allow users to transact on the platform and access about 200 DApps with token swaps, staking, and Smart contract functionality options.
On the other hand, Polygon CDK, renowned for providing mutual benefits for OKX, X Layer, and other chains linked to Polygon's AggLayer, will facilitate the transfer of liquidity between these chains, enhancing the overall functionality of the trading firm.
Describing the interconnection highlighted above, Polygon CEO Marc Boiron stated, "X Layer's connection to the AggLayer solves the fragmentation of liquidity and users across chains on the AggLayer so they can all grow together. OKX's 50 million users now have an easy path to onboarding to X Layer and all the other chains connected to the AggLayer."
