Crypto trade OKX lastly opened its Ethereum layer-2 X Layer mainnet to most people on April fifteenth.
The scaling answer testnet was launched in November 2023 to a lot fanfare and was constructed utilizing Polygon’s Chain Improvement Package (CDK). This toolkit permits builders to assemble their chains utilizing zero-knowledge know-how.
OKX Advertising Director Haider Rafique defined that the agency constructed its Layer 2 community as a result of it believes “one of the simplest ways to attain mainstream adoption is to assist develop the most important present Web3 group, Ethereum, as an alternative of competing with it.
Consequently, the agency is trying to leverage the Polygon and Ethereum communities to carry its 50 million customers onto the chain.
X layer
X Layer is a excessive efficiency and safe Zero Information (ZK) community based mostly on Ethereum Layer-2.
The platform is already having fun with a level of adoption, with greater than 200 decentralized purposes constructing on it, together with massive names like Etherfi, Chainlink, Curve Finance, Eigen Layer, and Renzo Protocol.
Rafique added:
“Now that the X LAYER public community is stay, our aim is to get as many builders and customers concerned as doable. We intention so as to add worth by offering a seamless and environment friendly chain expertise, supporting and facilitating new improvements based mostly on L2 and ZK applied sciences.
As well as, the trade’s native OKB token shall be used for gasoline funds on the Layer 2 community. The launch of this mainnet triggered a constructive improve in OKB’s worth, registering a 5% improve regardless of the prevailing market decline affecting the digital property of huge corporations.
There was some controversy over the model of the string, which was initially marketed because the X1. One other platform created by XEN builders, initially from XONE, now referred to as X1, has raised considerations about customers doubtlessly complicated the 2 chains. OKX has lastly settled on the X Layer, apparently trying to keep away from branding points following a lawsuit from XEN builders.
Layer 2 networks
Layer 2 blockchain networks are designed to spice up Ethereum’s scalability, a pattern that has skyrocketed in recognition and integration within the cryptosphere.
Based on information from L2Beat, these networks collectively facilitate 117 transactions per second, a considerable bounce over Ethereum’s primary chain by an element of 9.67.
Moreover, the full worth of property secured on these networks soared to an unprecedented $45 billion earlier than falling barely to $37 billion on the time of reporting.
