OKX Launches X Layer on Ethereum Mainnet for Faster Transactions

OKX, a prominent crypto exchange, unveiled its Ethereum-based layer-2 scaling network, X Layer, on Monday, marking a significant milestone in providing users with faster and cheaper transactions compared to Ethereum’s mainnet.

Leveraging Polygon’s CDK, X Layer pioneers Polygon’s AggLayer, aiming to unify various blockchains into a seamless ecosystem. Haider Rafique, OKX’s Chief Marketing Officer, emphasized the network’s potential for seamless interoperability, highlighting its limitless possibilities within the strong OKX community. With over 50 million users globally, OKX ranks among the largest crypto exchanges by trading volume, boasting $4.9 billion in daily transactions, surpassing even Coinbase.

Similarly, Coinbase’s layer-2 network Base, utilizing the OP Stack from Optimism, has attracted 8 million users and processed 154 million transactions since its launch. X Layer not only offers cost-effective transactions but also grants access to numerous decentralized applications (dapps), with plans for exponential growth. Notable dapps on X Layer include QuickSwap, Galxe, and Thirdweb, each contributing to a more interconnected Web3 ecosystem. With a focus on zero-knowledge proofs, X Layer epitomizes the industry’s drive towards greater interoperability and liquidity across chains, as Polygon CEO Marc Boiron affirms.

Clever Robot News Desk 18^th April 2024