Crypto change OKX lastly opened its Ethereum layer-2 community X Layer mainnet to most people on April 15.
The scaling answer’s testnet was launched in November 2023 to a lot acclaim and was constructed with Polygon’s Chain Growth Equipment (CDK). This toolkit empowers builders to assemble their chains utilizing zero-knowledge expertise.
OKX Chief Advertising Officer Haider Rafique defined that the agency constructed its layer-2 community as a result of it believes the “finest strategy to obtain mainstream adoption is to assist scale the most important present Web3 neighborhood, Ethereum, as an alternative of competing with it.”
Consequently, the agency seeks to leverage Polygon and Ethereum communities to convey its 50 million customers on-chain.
X Layer
X Layer is a extremely performant and safe Ethereum-based Zero Data (ZK) Layer-2 community.
The platform already enjoys some stage of adoption, with over 200 decentralized functions, 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 stay, our focus is to onboard as many builders and customers as attainable. Our purpose is so as to add worth by offering a seamless and environment friendly expertise on-chain, to encourage and facilitate new improvements based mostly on L2 and ZK applied sciences.”
Furthermore, the change’s native OKB token will probably be used for gasoline funds on the layer-2 community. This mainnet’s launch triggered a constructive surge in OKB’s worth, registering a 5% uptick regardless of the prevailing market downturn affecting large-cap digital property.
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 referred to as X1, had raised considerations 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 reputation and integration inside the crypto sphere.
In response to knowledge 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 entire worth of property secured on these networks soared to an unprecedented $45 billion earlier than barely declining to $37 billion on the time of reporting.
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