OKX, the fourth-largest crypto exchange, has officially launched its layer-2 blockchain network, X Layer, marking a significant step in crypto exchanges developing their own distributed networks. This new development harnesses Polygon’s technology to offer enhanced scalability and integration within the crypto ecosystem.
Advancements in Layer 2 Solutions
X Layer, initially known as X1, operates using Polygon’s Chain Development Kit (CDK), which provides a flexible platform for building custom chains. This technology leverages zero-knowledge proofs to ensure privacy and scalability, positioning OKX at the forefront of layer-2 innovation. The network’s integration with Polygon’s AggLayer promises to unify liquidity and facilitate seamless interactions across various chains.
The launch follows similar moves by other leading exchanges, such as Coinbase with its Base blockchain and Kraken, which is also exploring layer-2 solutions. These developments reflect a broader trend of cryptocurrency platforms enhancing their infrastructure to better serve users’ needs.
Empowering the Web3 Ecosystem
Upon its launch on the public mainnet, X Layer is set to revolutionize user experience by supporting over 170 decentralized applications (dapps), with plans to expand this offering. OKX aims to create a robust infrastructure likened to “highway infrastructure of the Web3 world,” where dapps act as marketplaces and self-hosted wallets serve as vehicles navigating this space.
Polygon Labs CEO Mark Boiron highlighted the ease of onboarding OKX’s 50 million users to X Layer and its connected networks, underscoring the strategic importance of this integration for user access and network growth.
X Layer’s launch not only underscores OKX’s commitment to innovation and user service in the crypto space but also sets a new standard for the integration of layer-2 technologies in enhancing blockchain scalability and efficiency.
