untitled design

OKX together with Polygon will launch L2 network X1

Cryptocurrency exchange OKX, in partnership with Polygon, launched a test network of the L2 solution X1.

“X1 will be a secure and high-performance platform for creating dapps. Gas will be paid in OKB, the native token of OKX,” the developers noted.

The zero-knowledge proof-based network will be built using Polygon’s Chain Development Kit (CDK), with the exchange as the primary participant. OKX also plans to “invest significant engineering resources to improve the technology stack for Ethereum scaling solutions.”

ZK developments are designed to make the platform secure by reducing transaction costs. The network will EVM-compatible, which will allow “connection to a wide range of smart contracts, wallets and tools,” OKX representatives emphasized.

Over the past 7 days, the OKB token has increased by 15.6%, trading at $60 (according to CoinGecko).

Polygon Labs introduced the Polygon CDK in August. The open source modular base allows any developer to launch their own L2 network, which will be connected to other chains through a common ZK bridge.

The solution is positioned as an evolution of the Supernets platform, which allows projects to use sidechain-like application chain protocols.


Source: Cryptocurrency

You may also like

Get the latest

Stay Informed: Get the Latest Updates and Insights

 

Most popular